“We need leaner regulation and a much simpler governance structure in place to realize the potential of India’s media and entertainment sector, which has the potential to grow from the current $ 24 billion to $ 100. billion dollars by 2030, “K Madhavan said. , Managing Director of Star & Disney India and Chairman of the CII National Committee on Media and Entertainment.
He was speaking at the 9th edition of the CII Big Picture Summit which was held virtually on Wednesday.
“This (M&E industry) has the potential to grow from the current $ 24 billion to $ 100 billion by 2030, which is our vision and our goal. The industry’s potential is untapped – pay TV is still at 120 million of India’s 300 million households, we only have 500 million smartphones in a country with over 950 million mobile subscribers. The pandemic has pushed customers to embrace technology like never before – as evidenced by the growth of e-commerce, online video and digital games – and it can take the industry to new heights.
“To realize this potential, we need a lighter touch on regulation and a much simpler governance structure in place,” Madhavan said.
There are different types of restrictions to which this sector is subject, although it has within it to make India a real atmanirbhar (autonomous), he added.
“We can increase our exports, increase the number of jobs for young talent and, most importantly, make India a global content leader if policies are designed according to industry requirements. We have senior government officials present at this session today. I urge them to consider the demands of the industry and facilitate its growth, ”he added.