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MEA news 27th June 2022 ardorcomm Anurag Thakur estimates that the media and entertainment sector will generate Rs 7.5 billion annually by 2030

Anurag Thakur estimates that the media and entertainment sector will generate Rs 7.5 billion annually by 2030

The media and entertainment ecosystem is a rising sector that, according to Union Minister Anurag Singh Thakur, will produce Rs 4 lakh crore annually by 2025 and Rs 7.5 lakh crore by 2030. The rapidly growing digital infrastructure in the nation and the ongoing developments in the AVGC (animation, visual effects, gaming, and comics) sector, according to the Minister for Information and Broadcasting, have the potential to turn India into the preferred post-preferred post-production hub of the media and entertainment industry.

At the National Conference on the “Changing Landscape of Media and Entertainment 2022,” which was held in Pune and organised by the Symbiosis Skill and Professional University, he gave the keynote speech.

“The media and entertainment ecosystem is a sunrise sector, which is expected to generate Rs 4 lakh crore annually by 2025 and reach USD 100 billion or Rs 7.5 lakh crore industry by 2030. The government has designated audio-visual services as one of the 12 Champion Service Sectors and announced key policy measures aimed at nurturing sustained growth,” he stated.

“Many job roles have emerged in the field – video editing, color grading, visual effects (VFX), sound design, rotoscoping, 3-D modeling, etc. Each job role in this sector requires a specific set of skills and competencies. It is imperative for the industry and academia to come together and design programs relevant to the needs of this sector,” Thakur added.

According to the minister, the government is also looking at new collaborations with the private sector to make sure Indian students are up to date with the latest technological developments.

According to Thakur, who said that “Digital India” had significantly improved the Indian content sector, “With quality content, easy access and an eager audience, India is ready to narrate its own success story and become a content creation hub.”

According to him, India was selected as the first-ever Country of Honor at the Cannes Film Festival, and the Indian delegation walked the red carpet with a pan-Indian feel rather than what they refer to as Bollywood.  “I don’t like Bollywood, Tollywood terms, it should be Indian film industry. There the diversity was visible,” he added.

Even during the pandemic, according to Thakur, India added as many as 50 unicorn start-ups, “which speaks volumes about India’s entrepreneurial spirit,” he stated in reference to the developing start-up eco-system in India.

Thakur expressed his desire to see an increasing number of start-ups come from the talent pool created by prestigious film institutes like FTII and SRFTI.

Source: PTI

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