Entertainment sector contributes $ 61.2 billion to the country’s economy every year

Mumbai: The fast growing film, television and streaming industry in India contributed $ 61.2 billion to the country’s economy in 2024. A new report released by the Motion Picture Association in the World Audio-Visual and Entertainment Summit (Waves) concluded in Mumbai today provided the observation of the rapidly growing Indian screen sector. According to the report, the film, television and streaming sector have contributed significantly to the economy by providing 2.64 lakh jobs across the country.

According to researchers compiling this data, the entertainment industry in India is growing at the annual growth rate of six to seven percent every year. Its joint gross revenue is expected to reach $ 17.5 billion in the next four years. However, it is expected that if the government provides a favorable environment, the entertainment industry can grow at a rate of 9 to 10 percent and generates a revenue of $ 20 billion in the next four years.

According to a report supported by the Ministry of Information and Broadcasting, the Commerce and Industry of India (FICCI), Producers Guild of India and other agencies, direct gross production of the region is expected to reach $ 16.8 billion by 2024. MPA Chairman and CEO Charles Rivcin said on the occasion that India has become a global market for MPA members.

Entertainment sector contributes $ 61.2 billion to the country’s economy every year

Rahul Dev

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