India’s media and entertainment sector needs to grow by around 15 percent every year to achieve its ambition of becoming a USD 100 billion industry by 2030, according to a white paper released at the CII Big Picture Summit in Mumbai today.

A PTI report, quoting the white paper, said, the industry needs faster growth to achieve this target. The media sector includes television, films, digital media, advertising, music and other entertainment businesses.

The industry has been witnessing changes in the way people consume content, with digital platforms creating new opportunities for businesses. However, achieving the $100 billion target will require sustained growth and efforts to strengthen the sector.

The media and entertainment industry plays an important role in India’s economy by supporting content creation, advertising, broadcasting and other related businesses. Continued investment, innovation and a supportive business environment will be important for the sector’s expansion.

The CII white paper highlights the industry’s growth ambition and the need to accelerate its development to achieve the target. The goal reflects the potential of India’s large audience base and growing demand for entertainment and digital content.