M&E Sector To Exceed $100 Bn By 2030: Apurva Chandra, MIB

The Union Secretary for Information and Broadcasting Apurva Chandra has exhorted the media and entertainment industry to set a target of growing the industry to more than USD 100 billion by the year 2030. 

“India will be a 10 trillion dollar economy in the next 10 years, we should target that the media and entertainment sector should grow to more than 100 billion dollars by 2030. The Ministry of Information and Broadcasting will do whatever it takes to support the M&E sector and help it grow,” he said. 

The secretary further shares that Invest India is going to be leveraged in order to bring in higher foreign investment into India in the film sector.

The ministry has merged various film units under one; NFDC based in Mumbai is going to be the hub of the cinematic arm of the government. With this, we want to revamp the film facilitation office. 

"More than 100 billion dollars of FDI is coming to India this year. We want to leverage Invest India to bring in foreign investment, we will reach out to foreign filmmakers to come to India,” Chandra said.

The government of India will work with the states and formulate a model theatre policy. Over the past 5-6 years, the number of theatres has been on a decline. We need to reverse this trend, Chandra added