India set to be entertainment hub; revenues to cross $100 billion: Mukesh Ambani

Indias media and entertainment industry revenues are set to grow by nearly fourfold to cross USD 100 billion in the next decade billionaire Mukesh Ambani said on ThursdaySpeaking at the governmentpromoted WAVES here Ambani whose company controls a sizable part of the sector said the day is not far when the country becomes the entertainment hub of the worldIndia is one of the most populous countries in the world and once it becomes the third largest economy globally its media and entertainment sector has the potential to be the largest in the world the richest person in the country saidAmbani whose group controls Network18 one of Indias largest media conglomerates as well as digital platforms entertainment channels and content streaming platforms said the fusion of storytelling and digital technologies has created a strategic and economic opportunityIndias media and entertainment industry is today valued at USD 28 billion It can grow to over USD 100 billion in the next decade This growth will drive entrepreneurship generate millions of jobs and create a ripple effect across sectors he said while speaking at the inaugural session of the WAVES 2025 conference hereThe worldclass digital infrastructure built on 5G is the countrys secret weapon Ambani said adding that soon it will be elevated to 6GAmbani said Jios partnership with Disney to run the overthetop platform Hotstar marks the dawn of a new era in digital storytellingIndia has to invest in content clusters train talented youngsters in animation and visual effects and create an enabling regulatory environment that rewards inclusion and imaginationHe also said that we have to forge partnerships and collaborations with innovative entrepreneurs artists and studios from around the worldIndias entertainment and cultural industry is not just soft power it is real power he saidIn our civilizational heritage of over 5000 years we have vast treasure troves of timeless tales from the Ramayana and Mahabharata to folklore and classics in dozens of languages They touch peoples hearts around the world because they celebrate universal human values brotherhood compassion courage love beauty and care for nature he saidNo nation can match Indias storytelling power Therefore with great confidence and creativity let us take our stories globally to heal a divided world he said terming the media and entertainment sector as presenting a strategic opportunity and not just cultural and economic prospectsStating that India has become a frontranking digital nation he said the fusion of storytelling and digital technologies is unique to IndiaIt has multiplied the impact and reach of entertainment and cultural experiences beyond imagination The tools of AI and immersive technologies can make our stories more captivating than ever before and take them instantly to audiences across languages countries and culturesBy mastering these tools Indias supertalented young creators will rule the global entertainment industry with blockbusters Ambani notedIn an increasingly turbulent and uncertain world our stories give the hope of a better future with their power to unite inspire and enrich he saidReferring to the recent terror attack in Pahalgam Ambani said the presence of Prime Minister Narendra Modi at the conference sends a strong message of hope unity and unshakable resolveAll of us gathered here offer our heartfelt condolences to the families of the victims he saidModi ji you have the full support of 145 crore Indians in this fight against the enemies of peace justice and humanity Their defeat is certain Indias victory is also certainSpeaking about the conference he said representatives from 90 countries and 10000 delegates are participating in the WAVES 2025This is the josh of Naya Bharat the spirit of New India Bold in its dreams Fast in its execution And determined to surpass global standardsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoeveratOptionskeyd0ddb8ef8f1a62a8cdd22fac27fc5ea7formatiframeheight90width728params