Live
- Stokes motivates his team to put in extra effort, says England pacer Potts
- From overcoming setbacks to leading India in U19 Women’s Asia Cup, Niki Prasad's amazing journey
- Constitution debate: PM Modi hails 'Nari Shakti'; makes strong pitch for 'United Bharat’
- Bihar: Inquiry initiated against principal who went to buy veggies during school hours
- TN: DMK postpones executive meet due to heavy rains & Parliament session
- Porous silicon oxide electrodes can fix durability issues in batteries: Researchers
- Jalandhar civic polls: AAP promises launch of 100 e-buses, round the clock water supply
- Economic upliftment of rural women is priority of Tripura govt: CM Saha
- Rajmata Jijabai Trophy: Manipur move to top of the table, T.N register first win
- Italian envoy Baroli hoping to strengthen ties with India through football
Media, Entertainment can be 6.5L cr industry: CII
Media, Entertainment can be `6.5L cr industry: CII. Indian media and entertainment industry has the potential to Rs 6.5 lakh crore turn over by 2025 provided it gets adequate infrastructure and government support, the Confederation of Indian Industry (CII) said on Sunday.
New Delhi : Indian media and entertainment industry has the potential to Rs 6.5 lakh crore turn over by 2025 provided it gets adequate infrastructure and government support, the Confederation of Indian Industry (CII) said on Sunday.
.jpg)
"Indian media and entertainment industry has the potential to reach Rs 6.5 lakh crore by 2025," the CII said on the eve of its two-day Big Picture Summit beginning here on Monday. "This would imply growth to Rs 210,000-250,000 crore by 2020.
Such robust growth can come only on the back of enabling infrastructure and the support of the government and the industry itself," a CII and Boston Consulting Group vision paper prepared for the summit said.
"With a growth potential of 13-16 percent year-on-year it has the potential to emerge as one of the largest employment providers, contributing significantly to the gross domestic product," said the paper titled Vision 2020 Document on Media and Entertainment Sector.
The current size of the industry is estimated at about Rs 115,000 crore. Digital media advertising in 2014 grew at a staggering 44.5 percent in 2014 over the previous year. "The next decade will see a consumption explosion with the rapid growth of digital media.
India already has 250-300 million digital screens which include smart phones, tablets, laptops and PCs," said CII director general Chandrajit Banerjee. "This is more than the number of TV and film screens put together. This number is projected to multiply to 600 million screens by 2020, implying that every second Indian will have a personal media consumption device.
The impact of this will be massive," he added. For the films sector, however, 2014 presented a mixed picture, with a handful of box-office records, while several more were unable to attract audiences. Thus, overall profitability was impacted. Actor-producer Ajay Devgn and veteran actress Sharmila Tagore are among those likely to participate in the summit during October 19-20.
The report says the next decade could also provide India the opportunity to emerge as a global media and entertainment hub. "Unlike mature Western markets, digital media could expand the overall market size by tapping into latent demand and driving new media consumption rather than merely replacing other, more traditional platforms," Kanchan Samtani, partner at Boston Consulting Group said.
