Thakur: The entertainment and media industry is expected to generate Rs 7.5 million a year by 2030, says Minister Anurag Thakur.

The media and entertainment ecosystem is a sunrise sector that is expected to generate Rs 4 million crore per year by 2025 and grow to Rs 7.5 million by 2030. Union Minister Anurag Singh Thakur said here on Sunday. The Minister of Information and Broadcasting also stated that the rapidly developing digital infrastructure in the country and the current advances in the AVGC sector (animation, visual effects, games and comics) can make India the preferred post-production hub of the media and entertainment industry.

He delivered the keynote speech at the National Conference “Changing the Media and Entertainment Landscape 2022” organized by Symbiosis Skill and Professional University in Pune.

“The media and entertainment ecosystem is a rising sector that is expected to generate Rs 4 million annually by 2025 and reach USD 100 billion or Rs 7.5 million by 2030. The government has identified audiovisual services as one of the 12 Champion Service Sectors and has announced key policy measures to ensure sustainable growth,” he said.

“A lot of professions have appeared in this area – video editing, color correction, visual effects (visual effects), sound design, rotoscoping, 3-D modeling, etc. Each position in this sector requires a specific set of skills and competencies. It is critical that industry and academia come together and develop programs that meet the needs of this sector,” added Thakur.

The government is also exploring new partnerships with the private sector to keep Indian students up to date on future technology trends in the sector, the minister said.

Stating that the content creation industry in India has seen a huge boost thanks to Digital India, Thakur said, “With quality content, easy access and an eager audience, India is poised to tell its own success story and become a hub for content creation. ”

He said that India was chosen as the first country of honor at the Cannes Film Festival and the Indian delegation walked the red carpet as a pan-Indian flair, not like Bollywood as they call it.

“I don’t like Bollywood, from Tollywood’s point of view, it should be the Indian film industry. There was diversity,” he said.

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

Thakur said he hopes to see more and more startups emerging from the talent pool of leading film schools such as FTII and SRFTI too much.

and BAFTA award-winning sound designer Resul Pukutty, who was the guest of honor at the event, said educational institutions should revive the ancient Indian tradition of imparting wisdom to students so they can face the outside world beyond developing skills.

“Look at a movie like The Matrix which took the idea of ​​Indian mythology and became an extremely popular movie. We never took something from our culture and released it into the universe to learn or be a part of it,” he said.

Sound is memory and memory is knowledge. Our Vedas are organized in such a way that they are easy to remember sounds. We are a civilization that has forgotten the power of sound. He added that in our storytelling of film and artistic endeavors, this does not reflect the kind of landscape we need to change.