Thursday, March 18

India Entertainment Revolution

Reliance Industries Ltd. Chairman and Managing Director Mukesh Ambani expects that India's entertainment industry could ride the broadband wave to grow to $200 billion in the next 20 years. The broadband initiative from Reliance is named as Broadband Baharat. Mr. Ambani was addressing Ficci Frames 2004, a global convention of the business of entertainment. The great advantage according to him is that:
This is because India has the largest digital infrastructure in the world, is not burdened by legacy systems and can leapfrog to the latest technologies cost-effectively, he added.

Reliance is not alone is the broadband venture; Bharat Sanchar Nigam Ltd (BSNL) and Korea Telecom have joined hands to offer Indian customers a wide range of broadband services that include cable, telephone connectivity and internet at high speed.

The Indian Animation Industry which estimated to be a billion-dollar industry in India will grow at 30 per cent annually in the near future as expected by Walt Disney President Andy Bird during FICCI-FRAMES 2004.

According to another REPORT by by Ernst and Young and the Federation of Indian Chambers of Commerce and Industry:
  • India's entertainment industry will grow by double digits over the next five years to achieve annual revenues of over nine billion dollars by 2008, helped by increased television viewing

  • 2003 was good for Bollywood with 16 films grossing more than 100 million rupees from the domestic market compared with 13 films which grossed that amount in 2002

  • India should see 7.5 million DTH subscribers by 2008

  • The live entertainment segment also posted a 60 percent growth over 2002

  • 12th Convergence India 2004 international exhibition and conference will focus on the tools, technologies and policy perspectives of the emerging convergence scenario in India, showcasing innovative products and services. The 12th Convergence India 2004 event will be held during 18-20 March at Pragati Maidan, New Delhi. The event will incorporate carriers and telcos, broadcast and cable; multimedia and internet; networks and computing; IT hardware and software; smart card technologies; satellite and space technologies and telecommunication equipments.

    While speaking at Convergence India 2004, TRAI Chairman, Pradip Baijal said that Telecom Regulatory Authority of India (TRAI) will issue guidelines for the Internet and broadband sector in the next fortnight.