New Delhi, Sep 18 (IANS) Minister of State for Information and Broadcasting and Minister of State for Parliamentary Affairs, Dr. L. Murugan said on Friday that India’s creative economy is emerging as the country's next major growth frontier that can open new employment and entrepreneurship opportunities for young people.

Dr. Murugan told participants at the Jindal Policy Conclave the animation, visual effects, gaming and comics (AVGC) sector is expected to require nearly 2 million skilled professionals by 2030.

Sectors such as film, music, gaming, animation, design, publishing, advertising and digital content are creating new opportunities for employment and entrepreneurship, he noted.

Dr. Murugan noted that the creative economy contributes 3.1 per cent to global GDP and 6.2 per cent of global employment, with an estimated 57 million Indians already working in cultural and creative occupations. India’s media and entertainment economy stands at Rs 2.5 trillion.

The government has announced support for the Indian Institute of Creative Technologies and AVGC Creator Labs in 15,000 schools and 500 colleges to prepare youth for emerging opportunities.

Dr. Murugan also emphasised that the growth of the creative economy must be supported by appropriate legal and policy frameworks, including copyright protection, fair compensation for creators and responsible use of artificial intelligence.

He urged young people to question assumptions and institutions with respect, reason and evidence and contribute their ideas and skills towards building a Viksit Bharat by 2047.

India’s media and entertainment sector is projected to grow at a compound annual rate (CAGR) of about 7 per cent, reaching approximately Rs 3,067 billion by 2027, according to government data.

The government projected this ecosystem to scale up to $100 billion by 2030, moving from a content-consuming nation to a global creator and exporter of intellectual property.

—IANS

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