“We need a lighter touch on regulation and a much simpler governance structure in place to achieve the potential of the media and entertainment sector in India, which has the potential to grow from the present $24 billion to $100 billion by 2030,” said K Madhavan, Managing Director of Star & Disney India, and Chairman of CII National Committee on Media & Entertainment.

He was speaking at the 9th edition of the CII Big Picture Summit held virtually on Wednesday.

“This (M&E industry) has the potential to grow from the present $24 billion to $100 billion by 2030, which is what our vision is and target should be. The potential of the industry is untapped – Pay TV is still at 120 million of the 300 million households in India, we only have 500 million smartphones in a country which has over 950 million mobile subscribers. The pandemic has driven customers to adopt technology as never before – as seen in the growth in e-commerce, online video, and digital gaming – and this can drive the sector to new heights.

“To achieve this potential, we need a lighter touch on regulation and a much simpler governance structure in place,” said Madhavan.

There are various kinds of restrictions that this sector is being subjected to although it has within it to make India truly atmanirbhar (self-reliant), he added.

“We can increase our exports, increase the number of jobs being given to young talent, and most importantly, make India a global leader in content if policies are shaped as per the requirements of the industry. We have senior representatives of government present in this session today. I urge them to look into demands of the industry and facilitate its growth,” he further stated.

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