The Indian Media & Entertainment (M&E) sector is set for substantial growth, with a projected 10.2 percent increase, reaching US$30.8 billion (Rs 2.55 trillion) by 2024 and a 10 percent compound annual growth rate (CAGR), hitting US$37.2 billion (Rs 3.08 trillion) by 2026. A pivotal shift is anticipated as digital media is expected to surpass television as the largest segment 2024.

Despite achieving an 8 percent growth in 2023 and surpassing pre-pandemic levels by 21 percent, specific segments like television, print, and radio still trail their 2019 benchmarks.

For Australia, the first major implication of this Indian media and entertainment growth is there is increased demand for content, talent and creativity. The second major impact is for market entry and product promotion. India media is a rapidly changing landscape and digital is the future.

Source: FICCI-EY Report 2024