The film, television and broadcasting industry in India achieved $ 61.2 billion of the total economic contribution during the year 2024, according to a new report issued by the Motion Picure Association (MPA) in cooperation with Deloitte.
The results, which were revealed at the top of the visual entertainment in the opening world in Mumbai, draw a picture of a prosperous creative ecosystem that supports 2.64 million jobs across the country.
This report, supported by the Indian Ministry of Information and Broadcasting, is the best Indian banners Gistar, the Federation of Indian Chambers of Commerce and Industry (FICCI), and the Producers Syndicate in India and Creative First revealed that the direct total production of the sector has reached 16.8 billion dollars in 2024, indicating the wide challenges.
Looking at the future, the researchers record the annual complex growth by 6-7 % over the next four years, which may reach combined revenue of about $ 17.5 billion by 2029. More optimistic, with effective organizational measures, growth can accelerate to 9-10 %, which causes revenue to approximately $ 20 billion.
MPA president and CEO Charles Revakkin addressed the gathering of industry leaders and government officials, stressing the strategic importance of the Indian market to the American studios.
“India is a decisive global market for MPA members – its dynamic films, television and broadcasting industry is a strong driver for functions, cultural influence and the country’s general creative economy,” said Revakkin. “Our members are proud to invest in developing local stories that reflect unparalleled imagination for creators from every corner of India and their participation with the international masses.”
At the forefront of the report, Kevin Fawz, CEO of Entertainment at Jiostar and Ficci M & E Chair, stressed the importance of expanding the scene of telling stories in India outside the traditional production centers.
“For evolution, the next stage of the story of the stories must reflect the full presentation of the cultural fabric of India,” he won. “Instead of relying only on the metro, the industry must now direct its resources and ambition to detect the rich creative potentials in places as much as it worsens like Bilaspur in Christtisgarh or Ranchi in JHARKHAND.”
The President of the Guild of India Shibasish Sarkar highlighted the recent developments in skills, training and production quality as institutions for future growth, noting that “the film and television industry can become a major sector in global trade aspirations in India.”
The launch of the report was followed by a high -strength MPA committee that includes governmental and industrial weights, including MIB Sanjay Gago, Corporate Development Chairman at Disney Justin Warbruck, VP Video Vice President, and Kelly, with Urmila Venogopalaan, President and MD of MPA Asia Pacific, focused on working in India.
