Sanjay Jaju: Media and Entertainment Sector Contributes ₹3 Lakh Crore to the Economy
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Synopsis
Sanjay Jaju announced that the media and entertainment industry contributes ₹3 lakh crore to GDP, outpacing economic growth. He discussed regulatory reforms and government initiatives at the 19th India Digital Summit, addressing challenges like misinformation and copyright concerns, while expressing optimism for the industry's global leadership.
Key Takeaways
- Media and entertainment sector contributes ₹3 lakh crore to GDP.
- Industry growth rate surpasses overall economic growth.
- Call for regulatory reforms and updates to the Cinematographic Act.
- Challenges of fake news and AI biases acknowledged.
- Government initiatives to support creators highlighted.
New Delhi, Jan 17 (NationPress) The media and entertainment industry is contributing ₹3 lakh crore to the GDP, expanding at a pace significantly swifter than the overall economic growth, stated Sanjay Jaju, Secretary of the Ministry of Information and Broadcasting, on Friday.
During his address at the 19th India Digital Summit (IDS) in New Delhi, Jaju emphasized the necessity for regulatory reforms, advocating for light-touch regulations and modifications to the Cinematographic Act to combat piracy and enhance accessibility.
He also pointed out several government initiatives, such as the establishment of the Indian Institute of Creative Technologies and the Create in India Challenge, scheduled to take place during the upcoming ‘Waves Summit’ in February.
“These challenges span various sectors within the media and entertainment domain. Numerous challenges are also of a global nature. The industry is actively addressing these challenges, and I’m pleased to report that we have received remarkable participation from creators throughout our nation,” Jaju remarked.
Addressing the challenges facing the industry, Jaju recognized the issues of fake news and misinformation, highlighting concerns related to AI-driven recommendations, which can unintentionally result in algorithmic biases.
“We are conscious of the unequal returns faced by many creators on digital platforms. There are ongoing concerns regarding copyright and content quality, especially for children, particularly content that fosters disharmony and sexual violence,” he stated.
Nonetheless, he expressed optimism that the industry can navigate these challenges and emerge as a global leader in the realm of media and entertainment.
The two-day 19th India Digital Summit is being organized by the Internet and Mobile Association of India (IAMAI) in partnership with the Ministry of Electronics and Information Technology (MeitY) and the Ministry of Information and Broadcasting.
