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Media has a significance which is far greater than what is reflected, says I and B Secretary Amit Khare 

“Less regulation is better than more regulation, and self-regulation than regulation by the Government. Self-regulation and less regulation complement each other very well, if the regulation is spelt out in clear and unambiguous terms,” this is what Secretary, Ministry of Information & Broadcasting, Amit Khare stated at FICCI Frames 2019 here on Tuesday.

He was delivering the keynote address at the inaugural session of the 20th edition of the three-day conference, whose theme is ‘FRAMES @ 20: Global Goes India’. Khare was referring specifically to the broadcast medium. Speaking of India’s Media and Entertainment industry, he said the sector has “a big role in enhancing India’s image on the global stage. The sector is led by the private sector, the role of the Government has been that of a facilitator, not that of a regulator.”

Acknowledging its importance, “since it generates millions of jobs, significant revenues and is growing at a fast rate”, Khare said that policies and regulations have developed platform-wise, not content-wise. “In 2019, when there is a convergence of platforms, we need to rethink and realign some policies for providing a level-playing field,” he said, adding, “The media has a significance which is far greater than what is reflected by the revenues it generates; it can create a change in public perception and hence, needs to be treated differently… The government wants to grow with the M&E industry and has high expectations from it.”

Secretary Khare also launched the FICCI — EY Knowledge Paper on the M&E industry in India, the Cyril Amarchand Mangaldas Law Book and Odisha Film Policy. The Indian M&E sector reached Rs 1.67 trillion (US$ 23.9 billion) in 2018, a growth of 13.4 per cent, according to the FICCI-EY Report which forecasts Rs 2.35 trillion (US$ 33.6 billion) by 2021. Television retained its position as the dominant segment; growth is expected in the digital arena which will overtake film in 2019 and print by 2021.

Delivering the Media Mastermind address, Ronnie Screwvala Chairman & Co Founder, UpGrad highlighted the need for more entrepreneurs and leaders in M&E to steer the industry forward and stressed the importance of innovation, perseverance and resilience. Mr. Screwvala also said that the media companies of tomorrow will not be media companies, but consumer companies, with a strong focus on the consumer.

Chief Executive Officer, National Geographic Partners, Gary Knell asked the industry how we can harness the power of storytelling to encourage the young Indians to explore and change the world. Noting the universal power of stories to inspire and the profound social impact of media, he exhorted the audience “to commit to posterity and play our part in the future growth of the industry.”

FRAMES is a three-day global convention covering Films, Broadcast (TV & Radio), Print, Advertising, Digital & New Media, Animation, Gaming, and Visual Effects. Apart from delegates, it is attended by industry stakeholders and government policy makers from India and abroad. As in past years, FICCI Frames has more than 35 Knowledge Sessions and several high profile speakers including Todd Yellin, VP, Products, Netflix and hit film maker Rohit Shetty.

 

 

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 FICCI FRAMES 2019