Govt supportive of M&E sector efforts to expand globally: Piyush Goyal

Industry’s commitment to take Indian cinema on the global map will help it succeed

MUMBAI, 04 May 2023: Mr Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India today said, “The Government is supportive to all the efforts by the media & entertainment industry to expand the frontiers of the sector globally.”

Addressing the 23rd edition of FICCI FRAMES, Mr Goyal said that India is on the pathway to become a developed nation by 2047. “As we enter the Amrit Kaal, the next 25 years which will be the defining years for India, I’m sure, our entertainment & media industry will make a mark that will be matchless. 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.”

Mr Goyal added that the theme also resonates with our belief that creativity can indeed enhance commerce. The M&E industry is today the cultural ambassador of the country and has given a unique identity to India, he noted.

“The Media & Entertainment industry can showcase to the world, the New India of today, boosting the economy, helping the country reach a new audience, influencing opinions, and spreading positivity,” asserted Mr Goyal.

Appreciating the industry for adopting modern technologies, Mr Goyal said, “We are looking at a proliferation of technology in the media and entertainment industries. With digital platforms coming up, I believe this industry will grow by leaps and bounds.”

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.

“We gave a social message that sustainability is at the core of our thinking and comes naturally to Indians. We also gave a message of Naari Shakti that Indian women of substance are defining the New India,” he added.

“The skill, innovation & technology of the industry is nurturing talents and hard work. Let’s together build an industry which entertains, empowers, enlightens & inspires the whole nation, in this journey of progress & prosperity,” he emphasized.

Ms Jyoti Deshpande, Chair, FICCI M&E Committee; CEO, Viacom 18 Media and President – Media & Content Business, Reliance Industries Ltd and Mr Shailesh K Pathak, Secretary General, FICCI also shared their perspective on the Indian media and entertainment sector.