Union Minister Murugan releases 5 significant reports at WAVE Summit

Excelsior Correspondent
MUMBAI, May 4: Union Minister of State for Information & Broadcasting and Parliamentary Affairs, Dr. L Murugan released five significant reports that collectively present a comprehensive overview of India’s dynamic and rapidly evolving media and entertainment ecosystem, at the ongoing WAVE Summit here.
Prepared by reputed national and international agencies, these reports provide valuable insights into the creator economy, content production, legal frameworks, live events industry, and data-backed policy support.
The Statistical Handbook prepared by the Ministry of Information & Broadcasting serves as an essential resource for data-driven policy and decision-making. It captures sectoral trends, audience behaviour, revenue growth patterns, and regional and national trajectories. The handbook is designed to inform and guide future policymaking and industry strategies, ensuring that they remain grounded in empirical evidence and practical realities.
The report ‘From Content to Commerce: Mapping India’s Creator Economy’ – by Boston Consulting Group (BCG) highlights the unprecedented scale and impact of India’s creator economy in the digital era. With 2 to 2.5 million active digital creators, India is home to one of the world’s fastest-growing creator ecosystems. These creators already influence more than $350 billion in annual consumer spending-a figure projected to triple and exceed $1 trillion by 2030.
The report urges stakeholders to look beyond numerical metrics and acknowledge the evolving role of creators as storytellers, culture-shapers, and economic drivers. For businesses, this shift implies moving away from transactional influencer engagements and building long-term partnerships rooted in authenticity, trust and creative agility.
‘A Studio Called India’ by Ernst & Young – Envisions India as a Global Content Hub. The report presents India not just as a content-consuming nation but as a studio to the world. It underlines India’s strengths – linguistic diversity, cultural richness, and a technologically adept talent pool – which position the country to create narratives that transcend borders. India offers a 40% to 60% cost advantage in animation and VFX services, supported by a large, skilled workforce.
The report also notes the increasing international appeal of Indian storytelling, with up to 25% of views on Indian OTT content now originating from overseas audiences. This phenomenon is not merely commercial-it represents a moment of cultural diplomacy, wherein India’s stories are forging emotional and cultural connections across continents.
Recognizing that creativity must be complemented by regulatory clarity, Khaitan& Co. has prepared a detailed legal and regulatory handbook for the media and entertainment sector. Designed as a practical guide for producers, studios, influencers, and platforms, the handbook covers a range of key legal issues such as, compliance norms for both domestic and foreign entities, Incentive schemes for international productions, Legal frameworks around influencer marketing and digital content and Definitions, taxation implications in the gaming sector, including GST, Protection of celebrity rights and Ethical considerations and regulatory treatment of AI-generated content. This handbook is intended to equip stakeholders with tools for confident, compliant, and responsible engagement in the creative economy.
The White Paper on India’s Live Events Industry underscores the sector’s robust growth and shifting consumer dynamics. With a 15% year-on-year growth rate, the industry added 13 billion in revenue in 2024 alone. The report notes that nearly half a million fans are now travelling between cities to attend events, reinforcing the emergence of event-based tourism in India.
The launch event was attended by Sanjay Jaju, Secretary, Ministry of Information and Broadcasting; R.K. Jena, Senior Economic Advisor, MIB; Meenu Batra, Joint Secretary, MIB; and Prithul Kumar, Joint Secretary, MIB and MD, NFDC.
Representing the Knowledge Partners, Vipin Gupta, Managing Director & Partner, Boston Consulting Group, Payal Mehta, Partner, Boston Consulting Group; Ashish Pherwani, Partner, Ernst & Young; Amiya Swarup, Partner, Ernst & Young; Tanu Banerjee, Partner, Technology and Media, Khaitan & Co; Ishan Johri Partner Khaitan & Co; Vinod Janardhan, Director, EVENTS FAQ Live; Deepak Chaudhury MD, EVENTS FAQ also attended the event in Mumbai.

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