According to the audited balance sheets filed with the Advertising Agencies Association of India, JWT is the leading agency in India.
Extrapolating from the balance sheets, the agency rankings would be as under: JWT (pictured Colvyn Harris, CEO), Lowe, Mudra, O&M, Draftfcb Ulka, Leo Burnett, McCann, RK Swamy, Rediffusion, Contract, Grey, Pressman, Dentsu Marcom, MAA, Madison, TBWA, Bates, Interface, Publicis India, Saatchi and Saatchi, Cheil, Dentsu Communications, Euro, Percept, Publicis and Triton.