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The Indian M&E sector grew by 8% in 2023, reaching INR2.3 trillion (US$27.9 billion), 21% above its pre-pandemic levels in 2019. New media, comprising digital and online gaming, emerged as the frontrunner in growth, contributing INR 122 billion of the overall increase of INR 173 billion, and consequently, increased its contribution to the M&E sector from 20% in 2019 to 38% in 2023.
Experiential (outside the home and interactive) segments continued their strong growth in 2023, and consequently, online gaming, filmed entertainment, live events, and OOH media segments grew at a combined 18%, contributing 48% of the total growth. With the exception of television, which experienced a marginal decline of 2%, all other segments experienced positive growth in 2023.
The FICCI Entertainment Division has been cheerleading the potential of this sector for the last ten years. It interfaces extensively with the entire gamut of the entertainment industry to work on issues which ought to be represented to the government as well as studies and explores the various commercial nuances of this growing and vibrant sector.
Some key policy issues being addressed currently are:
- Broadcasting Services (Regulation) Bill, 2023.
- Digital Personal Data Protection Act, 2023.
- Implications Of The E-commerce Moratorium On Audio- Visual Services Sector.
- Cigarettes And Other Tobacco Products (Prohibition Of Advertisement And Regulation Of Trade And Commerce, Production, Supply And Distribution) Act 2023.
- Levying GST on IT-enabled Services Including Localization And Other Similar It Enabled Services Sectors Like AVGC & Media Content Services.
- Draft Telecom Bill, 2022.
- TRAI Consultation Paper On Ease Of Doing Business In Telecom And Broadcasting Sector.
- The National AVGC Policy 2022.
- The New Gaming Policy.
- Guidelines On Accessibility Standards In The Public Exhibition Of Feature Films In Cinema Theatres.
The FICCI Media & Entertainment Committee, established in 1998, works with its 7 sub-groups/forums representing Brodcast, AVGC-XR, Films, Radio, Film-Exhibition, Digital and Skills-Education.
Team Leader
Leena Jaisani
Deputy Secretary General
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