In a recent address during the National Creators Award, Prime Minister Narendra Modi underscored the pivotal role of creators as digital ambassadors for India. He highlighted the significance of the creative economy, which has grown to a remarkable $30 billion industry, contributing 2.5% to the country's GDP and providing 8% of jobs. This sector is increasingly recognized for its potential to drive innovation and shape the future of India's economy [15d51ec2].
The Prime Minister's remarks come just ahead of the 55th International Film Festival of India (IFFI), set to commence on November 20, 2024, in Goa. This year's festival theme, 'Young Filmmakers – The Future is Now,' emphasizes the importance of nurturing new talent in the film industry [15d51ec2].
The rise of digital content creation has been fueled by a booming influencer marketing sector, valued at INR 3,375 crore, with over 200,000 content creators actively engaging audiences. With 110 crore internet users and 70 crore social media users in India, the landscape for creativity is thriving. Notably, creators with over one million followers can earn between INR 20,000 to INR 2.5 lakh monthly, showcasing the lucrative opportunities available in this space [15d51ec2].
To support this burgeoning sector, the Indian government has initiated several programs, including the establishment of the Indian Institute of Creative Technology (IICT) and the World Audio Visual & Entertainment Summit (WAVES). Additionally, the 'Create in India Challenges' have garnered significant interest, with over 14,000 registrations, encouraging innovation and creativity among aspiring creators [15d51ec2].
Modi also called on creators to embrace emerging technologies such as 5G and artificial intelligence, which are expected to further enhance the capabilities of the creative economy. As India continues to position itself as a global leader in creativity and innovation, the collaboration between the government and the creative community will be crucial in shaping the future of this dynamic sector [15d51ec2].
This focus on the creative economy complements previous discussions on India's advancements in animation, gaming, and mobile exports, as highlighted in Modi's 'Mann ki Baat' address on October 27, 2024. The Prime Minister's emphasis on self-reliance through the 'Aatmanirbhar Bharat' initiative reflects a comprehensive strategy to bolster domestic industries and foster a culture of innovation across various sectors [d2dd8a6a].