India's media and entertainment sector poised to cross Rs 3 lakh crore by 2027

Mumbai, Oct 8 (IANS) Telecom Regulatory Authority of India (TRAI) Chairman Anil Kumar Lahoti, has emphasised the need for balanced regulation and innovation to drive the next phase of growth in India's broadcasting and media industry.

Addressing the 25th edition of FICCI FRAMES here, Lahoti noted that India's media and entertainment (M and E) sector contributed Rs 2.5 lakh crore to the economy in 2024 and is projected to cross Rs 3 lakh crore by 2027. The television and broadcasting segment alone generated nearly Rs 68, 000 crore last year.

He also highlighted the sector's transformation from analog to digital and now to 4K broadcasting, complemented by the growth of Smart TVs, 5G, and OTT platforms serving over 600 million users. Despite this surge, linear television remains the primary medium across 190 million TV households, he added.

"TRAI's approach is to enable orderly growth through innovation and fair competition while ensuring transparency for consumers and protection for smaller players," said Lahoti.

Citing recent regulatory reforms, he referred to TRAI's amendments to the Cable and TV Broadcasting Framework and the proposed authorisation-based regime under the Telecommunication Act, 2023, aimed at improving ease of doing business and simplifying compliance.

Lahoti also highlighted TRAI's recommendations for the launch of digital radio broadcasting in major Indian cities to strengthen the FM ecosystem and modernise India's audio landscape.

TRAI released the recommendations on the digital broadcast policy last week that allow analogue FM radio channels to add a digital layer along the same frequency.

The recommendations on 'Formulating a Digital Radio Broadcast Policy for Private Radio Broadcasters' also call for a single technology standard across the country and auction of new frequencies in 13 cities, a move that is considered the first step towards the digital shift of India's FM radio.

Lohati concluded by reaffirming TRAI's commitment to working with industry stakeholders to realise the Prime Minister's vision of an "Orange Economy" powered by content, creativity, and culture.

--IANS

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