India’s content creation market to reach $480 billion by 2035: Minister

New Delhi, Oct 18 (IANS) India is poised to become the content creation capital of the world, with the market projected to grow from the current $30 billion to $480 billion by 2035, Union Minister for Communications Jyotiraditya Scindia has said.Addressing a panel discussion during the ‘India Mobile Congress 2024’ in the national capital, the minister emphasised the democratisation of information access and India’s readiness to embrace next-gen technologies like 6G to lead the digital revolution.According to a recent report by EY, the Indian content industry was expected to hit $30.6 billion this year.The experts emphasised that AI in content creation is an opportunity to expand revenue streams, reduce costs and tap into new markets, especially in tier 2 and 3 cities where content consumption patterns are evolving.As AI facilitates real-time personalisation and interaction with audiences, the creative economy is set to grow exponentially, they added. The conversation centred on AI’s ability to complement, not replace, human creativity.AI is enhancing regional content, with 95 per cent of YouTube consumption in India now being in regional languages, reflecting a shift from the predominantly English-speaking digital sphere just a few years ago.AI-driven content can help educate and raise awareness, offering unprecedented opportunities for spreading meaningful information, said industry experts.The 8th edition of the ‘India Mobile Congress’ was kicked off with its inauguration by Prime Minister Narendra Modi at Bharat Mandapam in the national capital. PM Modi took a walkthrough of the exhibition area before officially inaugurating the event.The ‘India Mobile Congress 2024’ is hosting over 400 exhibitors, about 900 startups and participation from over 120 countries. The event is also showcasing more than 900 technology use case scenarios, hosting more than 100 sessions with over 600 global and Indian speakers.India is also hosting the prestigious World Telecommunication Standardisation Assembly (WTSA) 2024 from October 14-24.--IANSna/

Yubaraj

Oct 18, 2024 - 06:44

New Delhi, Oct 18 (IANS) India is poised to become the content creation capital of the world, with the market projected to grow from the current $30 billion to $480 billion by 2035, Union Minister for Communications Jyotiraditya Scindia has said.

Addressing a panel discussion during the ‘India Mobile Congress 2024’ in the national capital, the minister emphasised the democratisation of information access and India’s readiness to embrace next-gen technologies like 6G to lead the digital revolution.

According to a recent report by EY, the Indian content industry was expected to hit $30.6 billion this year.

The experts emphasised that AI in content creation is an opportunity to expand revenue streams, reduce costs and tap into new markets, especially in tier 2 and 3 cities where content consumption patterns are evolving.

As AI facilitates real-time personalisation and interaction with audiences, the creative economy is set to grow exponentially, they added. The conversation centred on AI’s ability to complement, not replace, human creativity.

AI is enhancing regional content, with 95 per cent of YouTube consumption in India now being in regional languages, reflecting a shift from the predominantly English-speaking digital sphere just a few years ago.

AI-driven content can help educate and raise awareness, offering unprecedented opportunities for spreading meaningful information, said industry experts.

The 8th edition of the ‘India Mobile Congress’ was kicked off with its inauguration by Prime Minister Narendra Modi at Bharat Mandapam in the national capital. PM Modi took a walkthrough of the exhibition area before officially inaugurating the event.

The ‘India Mobile Congress 2024’ is hosting over 400 exhibitors, about 900 startups and participation from over 120 countries. The event is also showcasing more than 900 technology use case scenarios, hosting more than 100 sessions with over 600 global and Indian speakers.

India is also hosting the prestigious World Telecommunication Standardisation Assembly (WTSA) 2024 from October 14-24.

--IANS

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