Media and entertainment sector can hit $100 billion by 2030: Apurva Chandra

Hoping that India will become a $10 trillion economy within a decade, Ministry of Information and Broadcasting (MIB) Secretary Apruva Chandra said on Tuesday that the media and entertainment sector should aim $100 billion growth by 2030.

“We will be a $10 trillion economy in the next 10 years. The media and entertainment sector should aim to achieve at least one percent of this share and reach over $100 billion by 2030,” Chandra said at the FICCI Frames event in Mumbai on Tuesday.

Chandra kicked off the two-day event being held at the Westin Hotel in Powai.

The MIB Secretary assured the industry that his department would do whatever it takes to support the media and entertainment industry and help it grow.

Chandra tells the audience that the MIB through the Film Facilitation Office (FFO) is approaching foreign investors asking them to invest in the M&E sector in India.

“We want to revamp the Cinema Facilitation Office. Over $100 billion of FDI flows into India this year. We want to leverage Invest India to attract foreign investment to reach foreign filmmakers,” he said.

The secretary added that the ministry will work with states to facilitate film shooting in India.

“We recently announced an incentive policy at the Cannes Film Festival for co-productions in India. With the incentives given by the states as well, it becomes a viable and attractive package for filmmakers,” noted Chandra.

AVGC working group report coming soon

Chandra announced that the Animation, Visual Effects, Games and Comics Promotion Task Force (AVGC), which he leads, will submit its report to the government in two weeks. After that, it should be adopted by the end of the year.

The MIB had set up the AVGC Promotion Task Force in April this year in conjunction with industry leaders after the Union Government made an announcement to this effect in the EU budget. Union 2022-23 to recommend ways to achieve and enhance national capabilities to serve Indian markets and global demand. .

anti-piracy law

Chandra said the Cinema Act Amendment Bill, which aims to tackle content piracy, will be tabled in the winter session of parliament.

A special section on piracy is being introduced in the Cinematograph Act which will deal with piracy. The amendment would allow for criminal provisions in the Film Act, which the MIB has been working with industry bodies on. Piracy of content as such is dealt with in the Copyright Act.

AVGC Center of Excellence

AVGC center of excellence in the process of being created with 26% of the shares of CII and FICCI. The central government only owns 48%, so it is driven by the private sector.

Theaters will be set up all over India

According to Chandra, the government is preparing a model cinema policy which will help states to establish cinema and entertainment halls across India. “On World Cinema Day, when ticket prices were capped at ₹75, record numbers of people thronged to cinemas to watch movies. It shows that people are hungry for movies. “industry needs to do the best it can to meet its needs. Many parts of the country are still unserved. We want states to open movie theatres, perhaps as well as sports facilities and other entertainment facilities in all areas.

He cited the example of the Karnataka government and said that he had opened movie theaters in six districts in the last 5-6 months after Chandra’s request. Chandra had written to the state after representatives from various walks of life approached him asking for his intervention in the case.

Indians can watch movies without net

Using Direct-to-Mobile Broadcasting ie (D2M) technology, OTT content will soon be available to everyone in India on their mobile phones via a link without using internet data, Chandra informed.

He said, “Data is the cheapest in India which has shifted the consumption model from linear and TV to OTT. Public Service Broadcaster Prasar Bharati and IIT Kanpur have developed a proof of concept where more than 200 channels can be watched and high quality movies can be viewed on mobile phones without consuming data, using direct streaming to mobile.

Media and Entertainment Skills Council

Chandra also announced that the government is working to set up a media and entertainment skills council that will help prepare a skilled workforce for the industry.

The Skills Council has an important role to play, as skills are the most important role in job creation, he noted.

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