Panaji, April 22 (PTI): Experts from the advertising world assembled here for a two-day conference, which will deliberate on taking the Rs 1,500 crore industry to the level of Rs 5,000 crore.

An estimated 2,300 advertising professionals from across the country are participating in the Advertising Agencies' Association of India's (AAAI) annual festival, Adfest, which began on Friday at Cavellossim beach, about 50 km from here.

Goa Chief Minister Pratapsingh Rane inaugurated the meet, which is being held in the state for the second consecutive year.

"Advertising agencies should play a role of a friend rather than a middleman between producer and consumer," Rane said during his inaugural address.

"While safeguarding its own interests, the advertising firms should also look after interest of consumers too," the Chief Minister added.

"We want the event to be more than just an award show... It should be a platform for exchange of ideas," Arvind Sharma, Chairman of the event committee, told the gathering.

Srinivasan K Swamy, president, AAAI, said that deliberations would be aimed to hone the creativity and also to boost this Rs 1,500 crore industry into a Rs 5,000 crore one.

The Media Award and Best Advertisement Awards would be presented during the conference.