Delivering the keynote address at Publish Asia, he said the advertiser is no longer a cash cow and has been transforming into a partner of publishing house.

Later, N Murali, the managing director, The Hindu, exhorted the industry move to a strategy of profitable growth against the present high artificial growth.

Murali said, "There has been a sharp decline in the print industry in the current economic meltdown. In India, the runaway growth of print during the recent boom years had masked several trends and practices that militate against sound economic and business fundamentals. Very low cover prices have resulted in artificial circulation numbers and creation of artificial economics, where realisation from the selling price of the newspaper is less than the resale of the newspaper."