The 11th CII Big Picture Summit calls for “Create in India” as the vision for the M&E Industry
Mr Piyush Goyal, Hon'ble Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles in his keynote address at the 11th CII Big Picture Summit today, commended the contributions of the Media and Entertainment industry during the pandemic in delivering content, providing entertainment, and encompassing relevant information when the whole world was shut. He mentioned that the Government is working on extending support to the industry and has already increased the foreign direct investment limit to allow 100% foreign ownership in order to attract technology and relevant companies from around the world in the M&E sector in India. The Hon’ble Minister said, “we can work with the media industry towards a simplified framework that is less debilitating and where the red carpet is generally rolled out for both Indian and international artists and then we can imagine India’s rising soft power can provide opportunity for the next generation.” He mentioned that India needs to diversify into newer markets and create better ecosystems by providing new canvas for creativity to flourish. He stressed on the need of introducing more skill development courses or educational courses to further bring in talent to be able to produce content matching international standards. The Hon’ble Minister assured the industry of full support by the Government in working towards the endeavours of the industry to build it into one of the fastest growing industries in the country. He further urged the industry to collectively work with all stakeholders to showcase the soft power of India and reflect India's strengths and rich culture to the rest of the world.
Mr Apurva Chandra, Secretary, Ministry of Information and Broadcasting said that the major challenge lies in fighting fake news and protecting the people from misinformation.” He mentioned that the Direct to Mobile Broadcasting, an initiative by IIT Kanpur, is a pilot study which would lead to the profusion of content in India owing to the large number of households consuming data. Mr Chandra highlighted the many relaxations introduced by the Government with respect to FM and the transfer of channels. Furthermore, TRAI will soon release consultation papers on recommendations for FM which the Government will then action on, as mentioned by Mr Chandra. He advocated that the ultimate vision for the M&E industry must be “Create in India”, focusing solely on creating content in India. The Government is working towards attracting more and more foreign artists to come in India to shoot content.
Mr K Madhavan, Chairman, CII National Committee on Media & Entertainment and Country Manager & President, Disney Star urged the Government to introduce a comprehensive National Broadcasting Policy to ensure the growth of the M&E sector. Despite the availability of a huge talent force, India currently has only a 1% share in the global AVGC sector. He apprised that the industry can target 5% global market share in the next five years, having a potential to create 1,60,000 jobs. He further urged the Government to provide the necessary incentives for marking India a preferred location for international films.
Mr Biren Ghose, Vice Chairman – CII National Committee on Media & Entertainment Chair – CII Sub Committee for AVGC & Immersive Media, Country Head - Technicolor India in his closing remarks assured that the industry is working towards showcasing the soft power of India, as is the vision of the Prime Minister of India. He also commended the way the Ministry of Information and Broadcasting is working inter-ministerially which, along with the efforts of all the stakeholders, has resulted in the creation of policies quickly.
17 November 2022