Even as the sales of newspapers and magazines decline globally, in India their circulation increased by more than 23 million copies a day between 2006 and 2016, according to a new report from India’s Mumbai-based Audit Bureau of Circulation — an average growth of nearly 5% per year.

The bureau said, “India is one of the brightest spots [for] print media,” and cited growing literacy and education, India’s overachieving economy and more local content as reasons for the print boom, reports CNN.  India is also likely helped by the fact that it has more paid publications (7,871) than other countries and dozens of regional languages.

Indian print publications are forecast to bring in advertising revenue worth $4.5 billion by 2021, up from an estimated $3.1 billion in 2016. By then, India’s print media industry will be worth  $6.7 billion adds the bureau.