23rd edition of FICCI FRAMES ( 3-5 May 2023)
Govt. to soon announce AVGC policy and create AVGC Mission:
NFDC to come up with own OTT as a platform to showcase those films that don't get space in the market
Indian M&E sector to touch Rs 3 trillion in 2025: FICCI-EY Report
In his inaugural address Apurva Chandra, Secretary, Ministry of Information & Broadcasting, Govt of India shared that the government is working to soon bring an Animation, Visual Effects, Gaming and Comic (AVGC) policy and create an AVGC Mission.
Addressing the 23rd edition of FICCI FRAMES, Mr Chandra said, “Animation, visual effects and graphics are areas which have tremendous potential. With the establishment of the AVGC Task Force and the creation of a national policy for AVGC, India will be well on its way to becoming a global leader in the AVGC industry.”
He further assured the industry of support from the government and stated, “The government would like to be facilitators and supporters of the media and entertainment industry so that it reaches the world stage. We would like to work with the industry to set up more and more institutes so that more manpower comes on board in the industry.”
Underlining the role of National Film Development Corporation of India (NFDC), Mr Chandra said, “Through NFDC we need to finance projects and give support to young film makers who don't have access to funds otherwise. We plan to come up with NFDC's own OTT as a platform to showcase those films that don't get space in the market so that young talent gets a chance to showcase its talent.The Cabinet has recently approved the revamp of the Cinematograph Act so that strict actions can be taken against piracy.
Dr PD Vaghela, Chairman, Telecom Regulatory Authority of India (TRAI) said, “With the way technology is changing and the way new players are coming, we must ensure a level playing field for all. We should not impose regulations or restrictions on the new players; less regulation is the best regulation.”
Mr Subhrakant Panda, President, FICCI said, “Media & Entertainment industry in India is growing at a CAGR of 10.5 per cent and is expected to reach Rs 2.86 trillion in 2025, underscoring both its importance and resilience.
FICCI is committed to working with all stakeholders for the growth of the Indian M&E industry and supporting its global ambitions.”
Ms Jyoti Deshpande, Chair, FICCI M&E Committee; CEO, Viacom 18 Media & President - Media & Content Business, Reliance Industries Ltd said, “With disruptions and an imminent equally disruptive entertainment launch, a digital-forward economy has already seen content and data consumption levels reach monumental proportions by global standards.
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Highlighting the global recognition of Indian film industry, Actor Ayushmann Khurana said, “The more local we go, the more global we reach. Our film industry is at the cusp of global greatness”.
FICCI-EY report titled ‘Windows of opportunity - India’s media & entertainment sector maximizing across segments’ was also launched at the FICCI FRAMES 2023. Highlights of the FICCI-EY Report:
- Indian M&E sector grew 20% in 2022, touching the highest ever mark of INR2 trillion
- It is expected to grow a further INR 734 billion to reach INR 2.83 trillion in 2025
- Advertising grew 19% and crossed INR1 trillion (INR1 lakh crore) for the first time
- Digital media grew by INR132 billion to reach INR571 billion, and now comprises 27% of the Indian M&E sector and 48% of all advertising revenues
- Except for TV subscription, all M&E segments grew in 2022
On the second day, Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India delivered a pre-recorded addressin which he said “The Government is supportive to all the efforts by the media & entertainment industry to expand the frontiers of the sector globally. Your (industry’s) commitment to take Indian cinema on the global map, will help the industry to succeed.”
Lauding FICCI FRAMES – the congregation of stakeholders of Media & Entertainment sector, the Minister said, “I'm delighted to be a part of the event, which has the theme 'inspire, innovate & immerse', which is relevant to the current times. It also reflects the vibrancy that the media industry demonstrates as a key pillar to India's cultural heritage.Praising the recent Oscar wins for the 'Naatu-Naatu' song and the 'Elephant Whisperers' the Minister said this achievement showcases India's emerging contribution in the field of entertainment.
During the day, two glamour gals of the industry viz; actress Bhoomi Pednekar and Rakul Preet Singh also participated in the discussion topics as the panellists. High light of Rakul Preet Singh’s arguments was a point on the Pay parity of genders in the industry. She convincingly made an argument “What I think is that your pay needs to be decided on the basis of how much crowd you can pull to the theatres as opposed to what gender you are. If you are a male, female or a character actor, if you are attracting the audience to theatres, you should be paid something that is proportional to that, and not on the basis of your gender”
-------Mohan Siroya
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