India Must Target $1 Trillion ‘Orange Economy’ By 2047, Says Kiran Mazumdar Shaw
At the World Audio Visual and Entertainment Summit (WAVES) 2025, renowned entrepreneur and Biocon founder Kiran Mazumdar Shaw called for bold ambitions in India’s creative and media sectors, urging the nation to aim for a $1 trillion "Orange Economy" by 2047. Currently contributing $20 billion to the national GDP, the media and entertainment industry holds immense untapped potential, she said.
The "Orange Economy," also known as the creative economy, encompasses knowledge-based sectors that fuse culture, creativity, technology, and intellectual property to generate economic and social value. Shaw highlighted the importance of elevating this sector in line with Prime Minister Narendra Modi’s vision of a globally influential India by its centenary year of independence.
She said that India needs to think bigger. Startups in the creative space should look beyond just cinema. The future lies in creating global brands, content ecosystems, and strong IP that resonates internationally.
She highlighted the global appeal of Indian narratives, citing examples like Star Wars, which drew inspiration from Indian mythology. “It’s time for India to create new stories that blend tradition and technology. Just as George Lucas drew inspiration from Indian epics for Star Wars, we can use technology to transform our cultural heritage into global franchises,” she added.
Growing Digital Footprint
India's growing digital footprint and youthful demographic, with over a billion smartphone users and a tech-savvy Gen Z population, position the country uniquely for innovation, Shaw noted. She encouraged entrepreneurs to think long-term, reminding them that “every blockbuster begins with a small idea, a strategy, and relentless execution.”
Drawing on her own experience of building Biocon from a garage into a biotech powerhouse, Shaw stressed that success in the creative economy will require risk-taking, persistence, and a willingness to innovate.
Looking ahead, she identified augmented reality, virtual reality, and immersive technologies as major drivers of the next wave in the sector. “The next unicorns won’t just be apps — they will be creators who understand IP, tech, and immersive storytelling,” she said, urging young innovators to embrace failure as part of the journey.
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