The global Media & Entertainment (M&E) industry is on the brink of a major transformation as it marches toward 2030. International revenues are projected to reach $3.5 trillion by 2029, driven by a 3.7% CAGR between 2024 and 2029. This growth will be powered by the dominance of digital advertising, the rapid expansion of OTT and streaming services, accelerated gaming adoption, and ground breaking advances in AI and immersive technologies.

Emerging markets especially in Asia are set to drive a significant share of this expansion. India stands out with a projected CAGR of 9.8%, making it 2.6 times faster than the global average. These are the findings of a CII White Paper on Priority Policy Reforms for a Globally Competitive Creative Economy, titled “Reimagining India’s M&E Sector”, released here on Monday.

However, despite its momentum, India's current contribution to the global M&E industry remains modest at 2%, and its creative economy accounts for just 1% of national GDP.

“Unlocking its full potential will require overcoming bottlenecks such as regulatory fragmentation, infrastructure gaps, and export-related hurdles,” the report says.

It says that with strategic policy direction and industry collaboration, India can scale its M&E sector from today’s $30 billion to $100 billion by 2030, a target set by the Ministry of Information & Broadcasting and endorsed by the Confederation of Indian Industry (CII).

“Prime Minister Narendra Modi’s vision positions India as a global content creation powerhouse, blending cultural depth with technological innovation. His leadership has already transformed the former Film Facilitation Office to  India Cine Hub (ICH) to simplify filming processes, attract international productions, and elevate India as a premier global destination for film and media creation.

“The ICH aims to make India a preferred global filming destination by offering support across feature films, series, TV/web shows, and co-productions. The streamlined ecosystem represents a major step toward building an integrated creative production hub with global competitiveness.”

To unlock a $100+ billion industry and create over 5 million jobs, the report recommends  accelerating an integrated policy framework across seven pillars:

1. Regulatory governance: Fragmented and channel-specific regulations create inconsistency and compliance burdens. Unified, modern regulation will protect IP, support innovation, and help India lead globally in gaming and digital media.

2. Access and entrepreneurship: Entrepreneurs face overlapping approvals and piracy risks. A single-window digital portal and stronger anti-piracy enforcement will reduce barriers and attract domestic and foreign investment.

3. Infrastructure and technology: Outdated production infrastructure limits India’s global competitiveness. Investments in world-class studios, 5G, and advanced technologies will drive local capacity-building and reduce capital flight.

4. Export and monetization: Despite strong creative output, India’s content exports remain limited. Export funds, incentives, and streamlined international processes can amplify India’s global cultural footprint and revenue potential.

5. Talent and skills development: India faces a shortage of skilled professionals in animation, VFX, and digital media. Standardized, globally aligned training frameworks are essential to meet industry demand and boost employment readiness.

6. Content creation and innovation:  Media and gaming underperform due to limited incentives for domestic IP development. Production-linked incentives (PLI) can stimulate R&D, improve global competitiveness, and accelerate India’s content innovation ecosystem.

7. IP and financial infrastructure: Weak IP enforcement and outdated copyright laws hinder creator confidence. Blockchain-based registries, modernized copyright systems, and better financing for IP-backed enterprises will unlock entrepreneurial growth.

Further the white paper says that while sectors like Telecom, IT, and Pharma have transformed through clear national policies, the M&E sector remains governed by multiple acts, overlapping bodies, and legacy frameworks. With rapid digital convergence and the rise of AI-driven content, the need for a National Media & Entertainment Policy is urgent. Such a policy must:

* Address emerging technologies across all M&E verticals

* Establish forward-looking regulatory frameworks

* Create review mechanisms involving industry experts

* Set clear benchmarks and long-term growth roadmaps