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Govt sets up committee to boost entertainment sector
NEW DELHI: In a bid to give further fillip to the entertainment sector in India, the government recently set up a high-powered committee to suggest ways to attract venture capital (VC) in the sector.
According to an Arthur Andersen Ficci (AA Ficci) study, at present, the entertainment industry can be conservatively estimated at about Rs 96 billion, which is expected to grow to about Rs 286 billion by the financial year 2005.
The terms of reference of the new committee on VC funding are two-fold:
* To suggest a roadmap outlining a strategy to attract venture capital companies/funds to invest in the entertainment sector
* To study the existing investment regime in India in order to identify areas for policy changes to facilitate such investment.
The committee, which has been given six weeks’ time to submit recommendations, is headed by planning commission member NK Singh. The other members of the panel include ICICI CMD KV Kamath, additional secretary in the department of banking in the finance ministry Vinod Rai, I&B ministry secretary Pawan Chopra and directorate general of foreign trade L Mansingh.
Though the VC funding panel has been set up for the entertainment sector, which also includes TV and radio broadcasting, apart from films, the industry representation is dominated by those active in the film sector.
Asked why the television segment of the entertainment sector has not found some representation in the new panel, information and broadcasting minister Ravi Shankar Prasad said the committee is free to get in touch with people from other sectors and would also do so.
Until now, according to Prasad, approximately Rs 7,000 million financial assistance has been sanctioned by financial institutions and banks after the film industry was granted an industry status. Out of this Rs 2,000 million has been sanctioned by Industrial Development Bank of India, while the rest has been by various banks like the State Bank of India.
“Part of our efforts have been focussed on making the regimes covering the flow of finances such as the FDI and the lending regimes of commercial banks and the IDBI more encouraging,” Prasad said, indicating that the bid to involve VC funding is another step in this direction.
The bid to attract VC funding has been necessitated more so as despite previous liberalisation in the entertainment sector and sops, the unorganised sector and underworld’s hold over the film industry continues. A background paper on this prepared by the ministry states that the nature of the entertainment business is such that there is high risk attached to the creation of the entertainment software.
Since VC companies are by definition interested in high profits in high-risk ventures, it would be potentially profitable to bring together VC and the entertainment sector, the ministry paper pointed out. It added, “If we are seriously interested in chasing venture capital funding for the entertainment sector, it would be appropriate to look at the global practices and systems related to venture capital and assess the situation within India so as to bring about a respective investment regime.”
In the global economy, a country’s total advertising expenditure and its gross domestic product (GDP) have a strong positive correlation. In India, the ratio of advertising expenditure to GDP is about 0.4 per cent. This is quite low in comparison to the developed economies – USA (1.3 per cent), UK (1.1 per cent), Germany (0.9 per cent) – as well as several developing economies like Brazil (1.6 per cent), Thailand (0.9 per cent) and Indonesia (0.7 per cent), the AA Ficci study has said.
But considering there are some other high-powered committees also looking into such financial issues for the entertainment sector, would it turn out to be a case of too many cooks spoiling the broth? Time will tell.
News Broadcasting
Kamlesh Singh receives Haldi Ghati Award from MMCF
India Today Group editor honoured for three decades of journalism at Udaipur ceremony.
MUMBAI- Kamlesh Singh just turned a lifetime of sharp words into a shiny shield because when journalism wakes up a society, even the Maharana of Mewar wants to pin a medal on it.
The Maharana of Mewar Charitable Foundation (MMCF) conferred its prestigious Haldi Ghati Award on Kamlesh Singh, a senior editor at the India Today Group, during a ceremony in Udaipur on 15 March 2026. The national award, instituted in 1981-82, recognises “work of permanent value that initiates an awakening in society through the medium of journalism.”
Singh, who leads several editorial initiatives including Aaj Tak Radio, the Teen Taal community and The Lallantop, was presented the honour by Lakshyaraj Singh Mewar, Managing Trustee of MMCF. The citation highlighted his three decades of contributions to Indian media, innovations in digital journalism, mentoring young reporters, and his popular podcast persona “Tau” on Teen Taal, which fosters thoughtful public discourse.
The Haldi Ghati Award, named after the historic Battle of Haldighati symbolising valour and resilience, is one of four national awards given annually by MMCF. Past recipients include Tavleen Singh, Piyush Pandey and Raj Chengappa.
Other honourees this year included Padma Vibhushan Pt Hari Prasad Chaurasia, Vedamurti Devvrat Rekhe, Treeman of India Marimuthu Yoganathan, Vir Chakra Capt Rizwan Malik, and US-based researcher Molly Emma Aitken, who received the Colonel James Tod Award for contributions to understanding Mewar’s spirit and values.
In an era where headlines often shout louder than substance, the MMCF quietly reminded everyone that real journalism isn’t about noise, it’s about the quiet, persistent work that stirs society awake, one thoughtful story at a time.
