India’s creative economy to get new boost with white paper on policy reforms

Speaking at the opening of two-day summit, Gaurav Banerjee, chair, CII National Council on Media & Entertainment and MD & CEO, Sony Pictures Networks India, called for specialised creative institutions, stronger industry–academia partnerships, regional creative clusters, and urgent public–private collaboration to unlock the next chapter of growth.

Ministry of Information and Broadcasting Secretary Sanjay Jaju being feliciated during the "12th CII Big Picture Summit", in Mumbai. (Source: ANI Photo)

At the 12th Big Picture Summit, where the Confederation of Indian Industry (CII) unveiled a white paper on Priority Policy Reforms to propel Indian monitoring and evaluation (M&E) to new heights, Sanjay Jaju, secretary of Ministry of Information and Broadcasting (I&B) advocated industry-led growth. The white paper outlines actionable recommendations to drive growth, foster innovation, and position India as a leader in the global creative economy.

Speaking at the inaugural session in Mumbai, Jaju called on the industry to view the WAVES Summit not as a standalone event, but as part of an ongoing movement — one that continually inspires new waves of creativity, innovation, and progress. “Our Prime Minister (Narendra Modi) has consistently reminded us that each wave in this journey builds upon the last, urging us to reflect on where we stand as an industry and how we can move forward together,”Jaju said.

The I&B secretary underscored that entertainment, alongside food, shelter, and clothing, remains a fundamental pillar of civilisation. India’s creative economy, he noted, is now a livelihood source for over 10 million people, contributing approximately Rs 3 lakh crore to the national GDP. “The true value of our sector goes beyond numbers: it connects people, fosters harmony, and links nations together,” he said.

In spite of its rich cinematic legacy, Jaju said: “India holds only 2 per cent of the global M&E market. Our challenge—and opportunity—is to transform our creative potential into products and stories that earn global recognition.” As AI is transforming entertainment, he said the filmmakers should embrace new technologies. “As a rising economic power, India’s stories must be heard and seen worldwide. This is the essence of our soft power,” he said.

Speaking at the opening of two-day summit, Gaurav Banerjee, chair, CII National Council on Media & Entertainment and MD & CEO, Sony Pictures Networks India, called for specialised creative institutions, stronger industry–academia partnerships, regional creative clusters, and urgent public–private collaboration to unlock the next chapter of growth.

Rajan Navani, co-chair, CII National Council on Media & Entertainment and MD & CEO, Jetsynthesys, emphasised AI’s potential as a creative partner and underscored the importance of trusted government–industry frameworks while Gunjan Soni, co-chair, CII National Council on Media & Entertainment and Country MD, YouTube India, highlighted the rise of creative entrepreneurship and democratisation of content creation.

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