Indian Media & Entertainment Sector Projected To Cross $100 Billion By 2030

NEW DELHI- The country’s media and entertainment sector is projected to cross $100 billion by 2030, the government announced on November 15.

This sector has emerged as one of the nation’s fastest-growing industries, primarily powered by digital innovation, strong youth-driven demand, and a surge in creative entrepreneurship.

The government has recognized the industry as a high-potential segment within the services economy. It is projected to grow at a compo

und annual rate of about 7 per cent, reaching approximately Rs 3,067 billion by 2027. “The national outlook envisions this ecosystem scaling up to $100 billion by 2030, signaling a decisive shift from a content-consuming nation to a global creator and exporter of intellectual property,” it said. With its gross value-added share steadily increasing over the last decade, the sector contributes significantly to both value addition and job creation across the country.

India holds a 40 to 60 per cent cost advantage in animation and Visual Effects (VFX) services, supported by a large, skilled workforce. According to the official statement,

“This comparative edge has attracted a steady inflow of international projects and positioned India as a preferred destination for global post-production work.”

Furthermore, Indian stories are successfully building emotional and cultural connections across continents, with nearly 25 per cent of the total viewership for Indian Over-The-Top (OTT) content originating from overseas audiences.

The government noted that the formal recognition of the Animation, Visual Effects, Gaming, Comics, and Extended Reality sector is a key factor behind the creative resurgence. In the AVGC -XR sector, technology, storytelling, and innovation converge, defining the next chapter of the country’s media and entertainment growth. (IANS)

(Courtesy: https://indiawest.com/)