India M&E industry projected to reach $100 billion by 2030: Apurva Chandra

India M&E industry projected to reach $100 billion by 2030: Apurva Chandra

The I&B ministry will set up the AVGC task force by the end of March.

Apurva Chandra

Mumbai: The Indian media and entertainment industry is valued at $28 billion and is projected to reach $100 billion by 2030 growing at a cumulative growth rate of 12 per cent, said the ministry of information and broadcasting secretary Apurva Chandra. Chandra was addressing a roundtable organised by the India Pavilion at the Dubai Expo.

Chandra mentioned that the MIB will set up an AVGC (animation, visual effects, gaming and comics) task force by the end of March 2022 “with the purpose of formulating the AVGC policy to further facilitate the companies in the sector.”

Chandra was leading a delegation of the ministry comprising actor R Madhavan, Doordarshan director-general Mayank Agarwal, I&B ministry joint secretary Vikram Sahay, Central Board of Film Certification CEO and National Film Development Corp of India managing director Ravinder Bhakar.

The I&B secretary also met with Channel 2 Group Corp chairman Ajay Sethi on the matter of starting a live radio channel in India dedicated to sports. “The current broadcasting of live cricket in India on radio lacks quality and content and there is a delay of around 11 seconds as well,” said Chandra.  

Channel 2 Group is ready to invest in infrastructure, marketing, and content and sought the support of the government of India in terms of the channel. The company is in a 60:40 revenue sharing model Prasar Bharati but is not producing content. Channel 2 Group operates FM channels in Dubai, a TV channel in Kenya, Media City, cricket teams in the Caribbean and South Africa among other key activities. The company also owns ICC global cricket radio rights.

SS Rajamouli’s film "RRR" was launched globally at the Dubai Expo in the presence of the I&B secretary, global media houses, and key delegates from India and UAE. The director and actors Ram Charan and NT Rama Rao Jr were also present at the event.