Indias media and entertainment industry is expected to grow by over 81 per cent from the current level of Rs 91,700 crore to Rs 1,66,000 crore by 2017,according to Ficci-KPMG report released at the inaugural ceremony of Ficci Frames 2013 in Mumbai on Tuesday.
In 2012,the television segment accounted for 45 per cent of the Rs 83,100 crore market. Its share is likely to go up to 50 per cent by 2017,with a size of Rs 84,760 crore of the Rs 166,100 crore market. Print media is expected to post a moderate combined annualised growth rate (CAGR) of 8.7 per cent to touch Rs 34,020 crore from the 2012 level of Rs 22,410 crore. Indian film industry is slated to grow from the present Rs 11,240 crore to Rs 19,300 crore in 2017,the report said.
This industry is an economic enterprise,which is capable of creating employment and wealth much faster than most other sectors and with the ability to be a force multiplier, said Uday Shankar,Chairman of Ficcis Media and Entertainment Committee. The growth of the industry should be supported by bold policy and regulatory initiatives,he said.
The three-day Ficci Frames is the largest media and entertainment jamboree in Asia.