India’s creative sector is buzzing with energy, yet its ability to scale globally hinges on solving critical gaps. From Bollywood’s universal charm to rapid digital advancements, the potential for growth is immense. However, pressing issues like skill shortages and infrastructure constraints could hinder progress.
Take Bollywood’s growing global fanbase as an example. At a Thai restaurant in Bangkok, an Indian visitor was pleasantly surprised when a waitress enthusiastically performed a snippet of Dola Re Dola from Devdas. She jokingly confessed she wasn’t Aishwarya Rai but admitted her love for the song. Similarly, the 2022 film Gangubai Kathiawadi, featuring Alia Bhatt, became a sensation in Thailand, with fans sharing viral videos emulating the movie’s iconic characters. These examples reveal Bollywood’s widening appeal beyond traditional borders.
Yet, the bigger question remains: can India’s creative economy create enough jobs and compete globally? And where does it stand in terms of exports in the global creative market?
The Global Landscape of Creative Exports
India lags behind global leaders in creative exports. As per the UNCTAD Creative Economy Outlook 2024, countries like China ($250 billion), the United States ($46 billion), and Italy ($39 billion) dominate the space. Meanwhile, India’s exports stood at a modest $21 billion in 2022, reflecting a significant opportunity to grow.
Research from the Asian Development Bank Institute (ADBI) and ICRIER emphasizes the untapped potential of India’s creative industries. With the right push, this sector could address critical issues like youth unemployment. Presently, creative fields contribute 8% to India’s workforce—substantially higher than Turkey (1%) and South Korea (1.9%). A notable portion of these workers, aged between 15 and 29, underscores the creative economy’s role in shaping India’s future.
Digital Revolution Drives Growth
India’s creative sector has experienced unprecedented expansion, fueled by digitalization. Internet usage has grown by a staggering 340% over the past decade, with smartphones becoming the primary gateway to entertainment. The media and entertainment industry is expected to grow by 10% annually between 2024 and 2028, further cementing the role of digital platforms in driving this transformation.
Streaming services have been instrumental in connecting Indian creators with international audiences. From generating diverse revenue streams to enabling cross-border collaborations, these platforms have broadened the horizons for Indian talent. The country’s cost-effectiveness and ability to deliver quality output also make it an attractive outsourcing hub for global creative projects.
Challenges Threatening Growth
Despite its achievements, India’s creative economy grapples with serious challenges. The Animation, Visual Effects, Gaming, and Comics (AVGC) sector, projected to generate over 2.3 million jobs by 2032, struggles with a lack of skilled talent. While universities churn out graduates in fields like animation and VFX, many fail to meet international standards.
Other barriers include piracy, high infrastructure costs, and stiff competition from global players. Even in fashion and design, India has yet to match the international recognition achieved by Southeast Asian brands.
What Needs to Be Done?
To unlock the full potential of its creative economy, India must prioritize strategic action. Initiatives such as the All India Initiative on Creative Economy (AIICE) and the National Centre of Excellence (NCoE) for AVGC-XR are promising, but they need effective implementation to deliver results.
Solving intellectual property bottlenecks, fostering innovation through interdisciplinary collaboration, and promoting Indian content on global platforms are crucial steps forward. Drawing lessons from ASEAN’s collaborative model could also provide a blueprint for regional integration and growth.
The Road Ahead for India’s Creative Sector
India’s creative economy stands at a critical juncture. With its rich cultural diversity and technological advancements, the country has all the elements to become a global leader. However, realizing this vision requires focused investments in skill development, infrastructure, and policy reform.
As India’s creative industries continue to attract global attention, the challenge lies in sustaining this momentum and transforming potential into tangible outcomes. By addressing gaps and fostering innovation, India can confidently position itself as a major player in the global creative economy.
Author: This news is edited by: Abhishek Verma, (Editor, CANON TIMES)
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