India's Creative Economy Growth and AVGC Sector Opportunities
Dr. L. Murugan, Minister of State for Information and Broadcasting and Parliamentary Affairs, highlighted the rapid growth of India's creative economy during his inaugural address at the Jindal Policy Conclave on "Law, Policy, and the Creative Economy" at O.P. Jindal Global University. The creative economy, driven by ideas, imagination, culture, innovation, and intellectual property, currently contributes 3.1% to global GDP and 6.2% of global employment, with an estimated 57 million Indians already working in cultural and creative occupations.
India's media and entertainment economy stands at ₹2.5 trillion, encompassing sectors including film, music, gaming, animation, design, publishing, advertising, and digital content. The AVGC (Animation, Visual Effects, Gaming & Comics) sector alone is projected to require nearly 2 million skilled professionals by 2030, creating significant employment and entrepreneurship opportunities for young Indians.
Government Initiatives and Policy Framework
The government has announced support for the Indian Institute of Creative Technologies and AVGC Creator Labs that will be established in 15,000 schools and 500 colleges nationwide to equip youth with future-ready skills for these emerging opportunities. Dr. Murugan emphasized that the growth of the creative economy must be supported by appropriate legal and policy frameworks, including copyright protection, fair compensation for creators, and responsible use of artificial intelligence. He urged young people to contribute their ideas and skills toward building a Viksit Bharat by 2047 through respectful questioning of assumptions and institutions with reason and evidence.