As per Information and Broadcasting Minister Anurag Thakur, the OTT market in India is likely to grow at 21% every year and invited the foreign producers to shoot films in the country.
While speaking at the “India Forum” in Cannes, he also added that the government will take all measures to speed up co-production from around the world and also offer the best locations in India for film shoots.
“We are poised to take another leap as 300 million (30 crore) citizens are set to connect online as India marches ahead in cementing its space in the media and entertainment sector,” the minister said.
He also mentioned that the startups which are involved in the media and entertainment sector will deliver their best in the animation, visual effects, gaming and comics (AVGC) segment.
He said the government has envisioned major initiatives over the last eight years to boost co-productions, film shoots and film facilitations in India.
Further he highlighted that Uttar Pradesh and Madhya Pradesh have come up with their own film facilitation policies and provided co-production opportunities.
He said these efforts are aimed at boosting India’s media and entertainment ecosystem, which is expected to generate $53 billion annually by 2025.
“The government of India has officially designated audiovisual services as one of the 12 ‘champion service sectors’ and recently set up an AVGC task force comprising industry leaders to prepare a policy roadmap for India to take a quantum leap in this sector and position us as the preferred ‘post-production hub of the world,” Anurag Thakur said.
