Regional market offers huge growth potential for M&E industry: I&B Minister

With growing number of internet subscribers, India’s robust Media & Entertainment industry provided huge opportunities for content creators, curators, advertisers, app developers and online streaming companies. This was stated by M Venkaiah Naidu, Minister for Information & Broadcasting, while addressing the delegates at the 12th Indo-US Economic Summit in New Delhi yesterday.

He added that the regional markets provided huge potential for growth of M&E industry in the country, with content consumption by consumers getting more and more localised.

Speaking further, Naidu said that India offered the world’s largest base of young work-force, an expanding middle class constituting one of the biggest consumer markets and a robust, well functioning democratic system, along with its pro-reforms Government, which are scripting a turnaround story in India’s development journey.

The Minister noted that appropriate platforms such as the Indo-US Economic Summit would help evolve innovative ideas and strategies to address many challenges that the nation was facing. Major flagship schemes of the Government like Make in India, Skill India, Digital India and Swachh Bharat were touching the right chords amongst all stakeholders to make these flagship schemes a success.

Speaking about Urban Development sector initiatives, Naidu said that initiatives like Smart City Mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Heritage Rejuvenation through Infrastructure Development and Augmentation Yojana (HRIDAY) and Swachh Bharat Mission were all based on the principles of Urban Renaissance, namely Bottom-up approach, Autonomy to Local Bodies and shift from Project based to Area Based approach.