Regional constitutes nearly half of India’s film exports: Anant Goenka

In a grand gathering of luminaries, the 24th edition of FICCI Frames 2024 got underway, marking Asia’s largest and most impactful annual global convention on media and entertainment business. The event has long served as a nexus for the brightest minds and leading voices in the M&E sector.

This year’s theme, “Reflection, Realities, and Road Ahead”, prompted a collective pause to reflect on the industry’s journey, acknowledging both challenges and triumphs while envisioning the path forward. The conference was inaugurated by Mangal Prabhat, Minister of Skill Development and Entrepreneurship, Government of Maharashtra.

FICCI Frames has played an instrumental role in influencing the trajectory of India's media and entertainment landscape, becoming a cornerstone for industry leaders to converge, collaborate, and shape the future.

In his opening address, Anant Goenka, Vice President, FICCI and Vice Chairman, RPG Group, expressed gratitude to the esteemed guests and emphasised on the transformative growth witnessed by the Indian media and entertainment sector over the past decade.

The advent of digital connectivity and platforms has propelled the industry into a rapid growth trajectory, bringing forth a plethora of opportunities along with disruptive challenges. An intriguing shift highlighted by Goenka is the surge in demand for regional content, with regional cinema now constituting nearly half of India’s film exports. This growth underscores the industry's increasing prominence and relevance.

Goenka acknowledged the pivotal role of the digital revolution, reshaping the industry’s landscape. The OTT market in India has experienced exponential growth in recent years, prompting the need for fine-tuning regulations around privacy, data security, and content monitoring. In an era dominated by data analytics and artificial intelligence, industry stakeholders are increasingly relying on data-driven insights for content creation, distribution strategies, and audience engagement initiatives.

FICCI Frames, against the backdrop of these transformative trends and industry dynamics, assumes even greater significance. It emerges as the platform for dialogue, innovation, and collaboration, providing attendees with the opportunity to engage in thought-provoking discussions, gain valuable insights from industry luminaries, and forge meaningful partnerships that will collectively shape the future of the media and entertainment sector.

As the conference unfolds over three days, the call to action is clear: to inspire, innovate, and propel the media and entertainment sector to new heights. FICCI Frames 2024 stands poised as a beacon guiding the industry through reflections on its past, addressing present realities, and charting a course for an exciting and dynamic future.