The Indian motion picture and television industry is one of the largest and fastest growing sectors, contributing c. USD 8.1 billion (c. INR 50,000 Cr.) to the country’s economy, equating to 0.5% of GDP, in 2013, according to a new report launched on March 12. The sector also supports a significant 1.8 million (18.8 lac) jobs.
The ‘Economic Contribution of the Indian Motion Picture and Television Industry’, by leading financial services firm, Deloitte, was launched during a panel discussion at FICCI FRAMES, 2014, being held at the Renaissance Mumbai Convention Centre.
It was presented to an audience of leading film and TV industry representatives and media by the Motion Picture Dist. Association (MPDA), India, in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI) and local screen associations: The Film and Television Producers Guild Of India (FTPGI) and the Film Federation of India (FFI).
The report assessed the economic contribution of the wide range of sectors that make up the industry value chain, including film production and distribution, film exhibition, non-theatrical revenues, TV production, TV broadcasting and TV distribution and the fast-growing new media sector.
While the growth in total gross value added (GVA) of 15% over 20092 indicates the growing significance of this industry in the Indian economy, industry representatives were eager to reflect that the sector had the potential to contribute on a much greater scale if content was better protected and the complex taxation of the industry reviewed.
Key Findings of the Deloitte Economic Contribution of the Indian Motion Picture and Television Industry 2013 include:
• Film and TV contribute c. USD 8.1 billion (c. INR 50,000 Cr.) to the country’s economy, equating to 0.5% of GDP
• Total gross output of c. USD 18.5 billion, (c. INR 115,000 Cr.)
• Supports 1.8 million (18.8 lac) jobs