Media & Entertainment sector can touch $100 billion by 2030: Apurva Chandra – Exchange4media
Hoping that India will become a $10 trillion economy in a decade, Ministry of Information and Broadcasting (MIB) Secretary Apruva Chandra said on Tuesday that media and entertainment sector should target to grow by $100 billion by 2030.
“We will be a $10 trillion economy in next 10 years. Media and entertainment sector should target to get at least one percent of share of this and grow to more than 100 billion dollars by 2030,” Chandra said at the FICCI Frames event in Mumbai on Tuesday.
Chandra inaugurated the two-day event that is being held at Westin hotel in Powai.
The MIB secretary assured the industry that his ministry will do whatever it takes to support the media and entertainment sector and help it grow.
Chandra tells the audience that MIB, through Film Facilitation Office (FFO), is approaching foreign investors asking them to invest in M&E sector in India.
“We want to revamp Film Facilitation Office. More than $100 billion of FDI is coming to India this year. We want to leverage Invest India to bring in foreign investment to reach out to foreign filmmakers,” he said.
The secretary added that the ministry will work with states to facilitate film shooting in India.
“We have recently announced incentive policy at Cannes Film Festival, for co-productions in India. With incentives given by states too, it becomes a viable and attractive package for filmmakers,” Chandra noted.
AVGC Taskforce report soon
Chandra announced that the Animation, Visual Effects, Gaming and Comics (AVGC) Promotion Task Force, which he is heading, will submit its report to the government in two weeks. After that, it is likely to be adopted by year-end.
MIB had constituted AVGC Promotion Task Force in April this year in participation with industry leaders after the Union government made an announcement in this regard in the Union Budget 2022-23 to recommend ways to realise and build domestic capacity for serving Indian markets and the global demand.
Law to curb piracy
Chandra said that the Cinematograph Act amendment Bill, that aims to curb content piracy, will be tabled in the winter session of parliament.
A particular section about piracy is being introduced in the Cinematograph Act that will deal with piracy. The amendment would enable penal provisions in the Cinematograph Act, for which the MIB has been working with industry bodies. Content piracy as such is dealt with in the Copyright Act.
AVGC centre of excellence
AVGC centre of excellence being set up with 26% stakes each of CII & FICCI. The central government holding just 48% so that it is being driven by the private sector.
Theatres to be set up across India
According to Chandra, the government is preparing a model film theatre policy which will help states to set up film and entertainment theatres across India. “On the World Cinema Day, when ticket prices were capped at ₹75, a record number of people throng to cinema halls to watch movies. That shows people are craving films. Now, the industry must do its best to satisfy their needs. Many areas in the country are still unserved. We want states to open film theatres, may be along with sports and other entertainment facilities across all area.”
He cited the example of Karnataka government and said that it opened cinema halls across six districts over the past 5-6 months after Chandra’s request. Chandra had wrote to the state following representatives from various quarters approached him seeking his intervention in the matter.
Indians can watch films without net
Through Direct-to-Mobile Broadcasting ie (D2M) technology, OTT content will soon be accessible to everyone in India on their mobile phones through a link without using internet data, Chandra informed.
He said, “Data is cheapest in India which has shifted the consumption pattern from linear and TV to OTT. Public service broadcaster Prasar Bharati along with IIT Kanpur has come up with a proof of concept where more than 200 channels can be watched and high-quality films can be watched on mobile phones without consuming data, using direct-to-mobile broadcast.”
Media & Entertainment Skill Council
Chandra also announced that the government is working to setup a media and entertainment skill council which will help prepare a skilled workforce for the industry.
Skill Council has a big role to play, since skilling is most important part in creating more jobs, he noted.
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