Indian media and entertainment sector projected to cross $100 billion by 2030

New Delhi, Nov 15 (IANS) The country’s media and entertainment sector is projected to cross $100 billion by 2030, said the government on Saturday. 

The sector, which has emerged as one of the country’s fastest-growing industries, is powered by digital innovation, youth-driven demand, and a surge in creative entrepreneurship.

“Recognised by the government as a high-potential segment within the services economy, the sector is projected to grow at a compound 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, signalling a decisive shift from a content-consuming nation to a global creator and exporter of intellectual property,” said the government in an official statement.

With its gross value-added share steadily increasing over the last decade, the sector contributes significantly to value addition and job creation.

The country offers a 40 to 60 per cent cost advantage in animation and VFX services, supported by a large, skilled workforce.

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

Further, Indian stories are building emotional and cultural connections across continents, with nearly 25 per cent of total viewership for Indian OTT content originating from overseas audiences.

The government noted that the formal recognition of the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC -XR) 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, the statement said.

"India’s AVGC -XR sector is entering a phase of strategic growth marked by innovation, skill development, and policy convergence. The focus ahead lies in transforming the creative economy into a global powerhouse, driven by indigenous talent, technological advancement, and creative entrepreneurship," the statement said.

--IANS

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