I&B Ministry’s Secretary Apurva Chandra stresses on more contribution from media, entertainment industry to economy
Information and Broadcasting Ministry’s Secretary Apurva Chandra has laid stress on more contribution from media and entertainment industry to the economy. He said the media and entertainment industry in India is about 23 billion Dollar. Speaking at the FICCI Frames 2022 in Mumbai, he said, India’s GDP is about 3.6 trillion Dollar. However, the industry contributes less than one percent of the GDP and stressed improving these numbers.
He said, the way India’s economy is picking pace it is going to be a 10-trillion Dollar economy in the next 10 years. A target should be kept by the media and entertainment industry to grow to 100 billion Dollar. The Secretary assured that the Ministry of I&B is a facilitator and will do everything possible to support the media and entertainment industry. He said, when National Cinema Day was celebrated on the 23rd of this month, ticket prices were brought down to 75 rupees which elicited a good response from cinema-goers as theatres ran to their full capacity.
Speaking about Invest India, the Secretary said that more than 100 billion Dollar of FDI is coming to India this year. He said the government wants to take advantage of Invest India to attract investment in media and entertainment industry as well. The Ministry of Information and Broadcasting will partner with Invest India to reach out to foreign countries and filmmakers to shoot films in India and collaborate in this endeavour.
