Thakur: Media and entertainment industry is expected to generate INR 7.5 crore annually by 2030, says Minister Anurag Thakur

Union Minister Anurag Singh Thakur said the media and entertainment ecosystem is the sunrise sector, which is expected to generate INR 4 crore annually by 2025 and grow to INR 7.5 crore by 2030. The Minister of Information and Broadcasting also said that the rapid expansion of digital infrastructure in The country and the continuous developments taking place in the AVGC (Animation, Visual Effects, Games and Storyboards) sector have the potential to make India a preferred hub for the post-production media and entertainment industry.

He was giving the keynote address at the National Conference on “Changing the Landscape for Media and Entertainment 2022” organized by Symbiosis Skill and the Professional University of Pune.

“The media and entertainment sector is an entry-level sector, which is expected to generate INR 4 crore annually by 2025 and reach US$ 100 billion or Rs 7.5 crore by 2030. The government has identified audio-visual services as one of the Rs 12 crore leading service sectors and announced for major policy actions aimed at nurturing sustainable growth.”

“Many job roles have emerged in this field – video editing, color grading, visual effects (VFX), sound design, 3D modeling, etc. Each job role in this sector requires a specific set of skills and competencies. It is essential that you meet industry and academia together and design programs relevant to the needs of this sector.”

The minister said the government is also exploring new partnerships with the private sector to ensure Indian students are aligned with upcoming technology trends in the sector.

Noting that India’s content creation industry has seen a massive development with Digital India, Thakur said, “With high-quality content, easy accessibility and an eager audience, India is ready to tell its own success story and become a content creation hub.”

He said that India was chosen as the first-ever country of honor at the Cannes Film Festival and that the Indian delegation walked the red carpet as an all-India flavor and not like Bollywood as they call it.

He said, “I don’t like Bollywood, Tollywood terms, it should be the Hindi film industry. The diversity was obvious.”

Speaking about India’s growing startup ecosystem, Thakur said that even during the pandemic, India has added as many as 50 unicorn startups, “which speaks volumes about India’s entrepreneurial spirit.”

Thakur said he hopes to see more and more startups emerging from the pool of talent produced by leading film schools like FTII and SRFTI as well.

BAFTA award-winning sound designer Rizul Bokoti, who was the guest of honor at the event, said educational institutions should pay homage to the ancient Indian tradition of imparting wisdom to students to face the outside world, along with developing skill sets.

He said, “Look at a movie like ‘The Matrix’, which took an idea of ​​Indian mythology and became a hugely popular movie. We never took anything from our culture and put it into the universe and learn or be a part of it,” he said. .

Sound is memory and memory is knowing. Our Vedas are organized in such a way that those sounds are easily memorable. We are a civilization that has forgotten the power of sound. It does not appear in our narrative of cinema, he added, that artistic endeavors are the landscape we need to change.

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