Over the past decade, the dynamics between advertising agencies and their clients have undergone significant transformations, primarily driven by the rapid changes in the media and consumer landscape.

While the traditional agency-on-record model still exists, it has had to evolve to meet the demands of an increasingly fast-paced, always-on, and crowded consumer environment. As a result, new partnership structures have emerged.

Today, many large clients work with multiple agency partners, encompassing both established agencies and newer firms. These collaborations aim to enhance marketers' ability to seize opportunities and navigate the complexities of brand-building in an uncertain landscape.

To gain insights into the evolving nature of agency-client relationships in this new era, CNBC-TV18 interviewed three industry experts: Amit Doshi, Chief Marketing Officer at Britannia Industries; Subramanyeswar, Group CEO at MullenLowe Lintas Group; and Harshil Karia, founder of Schbang.

Watch the accompanying video for the entire conversation.