Entertainment industry to be valued at Rs 650 billion

A comprehensive report on the entertainment industry, the first of its kind, has been compiled by the Federation of Indian Chambers of Commerce and Industry (Ficci) along with Arthur Anderson. The report reveals very positive and optimistic figures projected for the entertainment industry's growth. The media committee is headed by Lalit Modi and the members include Plus Channel's CEO Amit Khanna, Sone Entertainment Television's CEO Kunal Das Gupta and ESPN India Chairman Manu Sawhney along with representatives of film, music and entertaiment industry.

The report says that the Indian entertainment industry's turnover will touch Rs 650 billion in the year 2005 from the current Rs 150 billion. The television software industry is slated to grow to Rs 90 billion, music industry to Rs 22 billion from the current Rs 12.54 billion where as the live entertainment sector would be worth Rs 33.65 billion from the current Rs 2 billion.

The survey suggests private or progressive participation in Doordarshan. Other suggestions are as follows:

* Creating a special anti-piracy cell with the police department to combat the growing piracy menace.
* Developing closer association with international cells guarding against piracy and streamlining anti-piracy laws with that of US, UK etc.
* Bringing the industry in parity with the information technology sector with respect to overseas investment and stock listing norms.
* Providing stable legislation for the issue of radio broadcasting licences.
* Reviewing the functioning of the Censor Board in light of the changing scenario and citizens increasingly demanding the right to make their own decisions on entertainment.
* Issuing board regulations/guidelines for banks and financial institutions to facilitate lending to this intellectual property related industry.
* Reviewing archaic laws and onerous responsibilities cast on the industry particularly in the film exhibition and live entertainment sectors.

The Ficci has organised a conference on 30 March and 31 March, 2000 in Mumbai to discuss the problems faced by the entertainment industry. Industry bigwigs and political bigwigs are slated to attend the seminar.

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