Tech & creator ecosystem to drive India’s creative sector: Ashwini Vaishnaw

“The International Film Festival of India (IFFI) has become a significant milestone in the development of the Indian film industry. India is focused on developing a content creators’ economy, which is vibrant and rapidly growing,” said Union Minister for Information & Broadcasting, Ashwini Vaishnaw, in a video message during the vibrant Opening Ceremony of the 55^th IFFI held in Goa.

The minister also highlighted India’s creative sector as a dynamic force contributing to economic growth and showcasing the country’s rich cultural heritage. “People are coming up with innovative content that showcases India's diverse cultures, cuisines, rich heritage, and gems of Indian literature and languages in interesting and creative ways as the country continues to empower creators, foster innovation, and drive cultural diplomacy on the world stage,” he added.

#IFFI has become a very important milestone in the development of film industry in India. We are focused on developing content creator's economy

We have a very vibrant creator's economy where people are coming up with very innovative content. With the addition of technology and… pic.twitter.com/1SqWSiEoKi

— PIB India (@PIB_India) November 20, 2024

The Union Minister also called upon creators to leverage cutting-edge technologies to craft stories that resonate with global audiences while reflecting India’s unique identity. “With the integration of technology and the development of a robust creators’ ecosystem, we believe India’s creative sector will continue to thrive,” he said.

The minister extended a warm invitation to all film lovers, filmmakers, and IFFI delegates, expressing hope that the festival would foster new partnerships and collaborations for creative minds. “We also hope that young creators will find mentorship and guidance here. The ideas shared during this event will help shape the direction of the industry in the coming years,” he added.

Vaishnaw also elaborated on the growth trajectory of India’s creative economy. “India’s creative economy is rapidly expanding, now valued at $30 billion, contributing nearly 2.5% to India’s GDP and providing livelihoods to 8% of the workforce. The influencer marketing sector alone is valued at INR 3,375 crore, with over 200,000 full-time content creators contributing to India’s global presence,” he shared. The minister pointed out that cities such as Guwahati, Kochi, and Indore are emerging as creative epicentres, fuelling a decentralized creative revolution across the country.

Vaishnaw further emphasized the broader impact of India’s creative industries, stating that they extend beyond GDP growth, helping shape the country’s global soft power through Bollywood, Regional cinema, and other cultural outputs.

He reiterated about the government’s interventions adding that the World Audio Visual & Entertainment Summit (WAVES) is a landmark initiative to position the country as a global powerhouse in content creation and innovation.

The 55^th edition of the festival commenced with a grand opening ceremony in Goa, the permanent venue for IFFI on November 20, 2024. The nine-day festival will run until 28^th November, 2024 offering film-makers and creative artists a platform for sharing and celebrating the joy of cinema.