India’s Creative Industries July 5, 2011Posted by rwituja in Young Creative Entrepreneur.
Tags: applications, business, creative industries, Design, employment, entertainment, Fashion, film, indian industry, infrastructure, internet market, media, mobile, opportunities, retail, revenue, technology, textile
- Media and Entertainment is one of the fastest growing sectors inIndia. The entertainment industry estimated at about US$ 9.4 billion in revenues in year 2010 is expected to reach revenues of US$ 10.7 billion in 2011.
- With the advent of new technologies such as 2G and 3G, and increasing mobile penetrationIndia’s music industry is scaling on a high note.
- India is the largest film producing market in the world and one of the largest employment sectors in India.
- India is the third biggest Internet market, with over 100 million internet user base and the amount of time spent on the Internet for an average user in the country is 16 hours a week. According to Google estimates, 40 million users access Internet through mobile phones and download 30 million applications. New technologies such as 3G, broadband and mobile infrastructure are also helping in propelling this trend.
- The growth of the fashion industry in India is mainly driven by the growing exposure of domestic designers at international forums attracting a large number of international clients, launch of focused business education courses for emerging designers and the establishment of an industry association. Rising affluence has increased brand awareness among Indian consumers. The Indian textile industry provides direct employment to over 35 million people.
- Growing wealth and disposable incomes of the country’s middle and upper classes, facilitated by the growth in retail infrastructure for entertainment products and services, and the demands for creativity in business is all opening up vast opportunities for businesses in this sector.
Copyright: India Brand Equity Foundation, March 2011 (http://www.ibef.org)