India’s M&E industry to reach US$ 100 billion by 2030: MIB Secretary

The National Film Development Corporation (NFDC) is going to be the government’s cinematic arm, and the Ministry of Information and Broadcasting (MIB) will merge numerous film units into a single entity

September 28, 2022

DC space in India, during the first half of this year, has gone above 9 million sq. ft. with a capacity of 600+ MW

By 2024, DC capacity is expected to double with an additional 400 MW under construction across major Indian cities

Tier II and III cities are also expected to see a rise in demand for DCs, owing to the policy refinement for the industry by the government

Most of the investments were attracted by hyper-scale DCs between 2018-2021 at 77%

India’s media and entertainment industry is expected to reach US$ 100 billion by 2030, according to Apurva Chandra, secretary of the Ministry of Information and Broadcasting (MIB). 

Chandra said that the country’s media and entertainment industry is expected to reach the number, while India becomes a US$ 10 trillion economy over the next eight years.

The NFDC is going to be the government’s cinematic arm and the MIB will merge numerous film units into a single entity. Chandra also said that the Film Facilitation Office will undergo changes, and deliver it to Invest India, the country’s main investment arm. 

The government plans to work with States to facilitate and promote film shooting in India, and also reach out to international filmmakers to work in the country. It has recently announced an Incentive Scheme for Audio-Visual Co-production and an Incentive Scheme for Shooting Foreign Films in India, at the Cannes Film Festival. 

According to Chandra, movie theatres are witnessing a steady decline over the last 5-6 years. As a remedy, the ministry will work on coming up with a single-window portal for opening theatres, through the combined effort of the Film Facilitation Office and Invest India. Launching a Model Theatre Policy is also in the pipeline for States

Additionally, as a result of the pandemic, the pace of OTT viewership has increased over time leading to a rise in employment within the domain. The Media & Entertainment Skills Council is planning to skill more people to increase employment in the sector.


Link: Mint

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