Chennai: The next five years will see digital technologies and content emerging as predominant and online video will be the new norm for the entertainment sector as rising internet penetration and smart phone ownership in the rural areas enable access to online videos, Governor Banwarilal Purohit said.
“Indian and international video platforms are currently looking forward to ramp up their presence in the country and capitalise on the massive shifts in consumer behavior,” Mr Purohit said on Saturday.
“To gain greater recognition in the global arena and to further expand our (entertainment) industry, we should work to develop the explored areas and explore the unexplored areas,” he said and called upon the film industry to draft an action plan that would catapult India to the status of global leader in the entertainment industry.
A number of initiatives such as digitising the cable distribution sector to attract greater institutional funding, increasing FDI limit from 74 per cent to 100 per cent in cable and DTH satellite platforms, and granting industry status to the film industry have been taken by the government under Prime Minister Narendra Modi to encourage the entertainment industry, he said.
“Culture appeals to the heart and the mind. It is more powerful than mere economic logic that appeals to the mind alone. The power of culture to affect people in large numbers cannot be matched by any amount of political or economic rhetoric,” he said, highlighting the importance of entertainment industry. The Governor was speaking at the inaugural of the 'Indian Entertainment Industry: Global Leader in the Making' organised by the Bharat Niti in association with the South India Film Chamber of Commerce, here on Saturday.
“The conference aims to examine the ways and means by which India can emerge as the world leader in the entertainment sector,” he said and underscored the importance of interaction between the government and industry. He lauded the organisers for bringing the experts in the entertainment industry under one roof.
“India is also experiencing rapid economic growth resulting in a burgeoning middle class. With such a youthful demographic base and a rise in disposable incomes, the propensity to spend on leisure and entertainment is growing faster than the economy itself,” he added....