FICCI FRAMES 2025, 02: India’s M&E industry grows ten-fold, from Rs. 25,000 crore in 2000, to about ₹2.5 lakh, in 2025

I missed it, but you get it. A report on the fireside chat between Maharashtra’s Chief Minister, Devendra Fadnavis, Superstar Akshay Kumar, FRAMES Ambassador and reputed actor, Ayushmann Khurrana, Sanjay Jaju, Secretary, Union Ministry of Information and Broadcasting, Anant Goenka, Senior Vice President, FICCI and Vice Chairman of RPG Group, Kevin Vaz, Chairman, FICCI's Media and Entertainment Committee and CEO, Entertainment at JioStar. And Ashish Babaji Shelar, Minister of Cultural Affairs and Information Technology, Government of Maharashtra.

Devendra Fadnavis announced an ambitious four-year timeline to transform Mumbai's Film City, in Goregaon East, into a world-class film ecosystem, signalling the state's determination to cement India's position as a global content production hub. Fadnavis acknowledged that the project had remained unexecuted during his previous tenure, between 2014 and 2019, despite extensive planning. 'This time, I have decided that we will convert Film City into a world-class film ecosystem,' he told Akshay Kumar, who directly requested the chief minister to prioritise the transformation. The chief minister added that the transformation would begin within a year.

Ayushmann Khurrana, said that the silver jubilee edition of the event reflects the platform's role in unifying creative professionals and shaping the Indian entertainment industry, over a quarter century. 'Indian stories and talents are bringing us global recognition, with FICCI at the forefront acting as a catalyst for change,' the national film award-winning actor said. 'We have more than a billion stories to tell, and today is our time.'\

Fadnavis also pledged to develop specific strategies to connect younger audiences with Marathi cinema, acknowledging that the state government had not previously made targeted efforts despite the regional industry's creative strength. 'You have given me a new mantra — how to connect Gen Z to Marathi films. Now I will work on this,' he told actor Akshay Kumar.

The Film City redevelopment will incorporate state-of-the-art studios, designed to accommodate emerging technologies, including virtual production, artificial intelligence and advanced visual effects capabilities. The site already houses the Indian Institute of Creative Technology, a unique institution, owned 52 per cent by industry bodies, such as FICCI, with the remainder held by the governments of Maharashtra and India.

Jaju revealed that India’s Media and Entertainment (M&E) industry grew ten-fold, from Rs. 25,000 crore in 2000, to about ₹2.5 lakh, in 2025. He outlined the government's broader vision for the sector, highlighting that digital media is growing at twice the rate of India's GDP, whilst the animation, visual effects, gaming and extended reality segment is expanding at 30 per cent annually. Indian content now travels to over 200 countries, he noted, carried by streaming platforms, including Netflix, Amazon Prime and JioStar.

The secretary identified several critical challenges facing the industry, including piracy, which have implications for national security and money laundering, misinformation eroding public trust, and the need for fair revenue distribution to content creators. 'It's important that this growth comes with great responsibility,' he said, emphasising the government's commitment to balancing expansion with ethical standards. He outlined several Government of India initiatives designed to strengthen the sector, including the World Audio Visual and Entertainment Summit (WAVES), the WAVEXcelerator (WAVEX) for creative startups, the Create in India Challenges, the India Cine Hub single-window portal, and the Indian Institute of Creative Technologies (IICT) for skilling and research.

Jaju also announced that a Joint Working Group with state governments and industry partners is developing a roadmap to position India among the world’s top five live entertainment destinations by 2030.

Anant Goenka said the establishment of the Indian Institute of Creative Technology represents a milestone for the industry. The institution, conceived as an industry-led platform, addresses critical needs, including workforce skilling, research and development, innovation and policy alignment, whilst supporting states in framing animation, visual effects, gaming and extended reality policies.

FICCI Frames, marking its silver jubilee, has evolved alongside the industry since the government formally granted media and entertainment industry status, in 2001. That designation opened institutional finance channels, enabling capital inflows and risk-taking in content, infrastructure and technology. Goenka described the platform as 'the bridge between government, industry and academia', noting that media and entertainment serves as a pillar of India's soft power and cultural diversity.

Kevin Vaz noted that over the past 25 years, FRAMES has mirrored the extraordinary journey of India’s media and entertainment sector, from being granted industry status, to emerging as a global creative force. “As we enter a new era, our collective focus must be on enabling sustainable growth through innovation, collaboration and light-touch regulation that empowers creativity. With business, technology and storytelling moving together, India’s M&E industry will not just grow, it will lead the world,” he averred.

Ashish Babaji Shelar said the state's media and entertainment sector contributes over ₹2 lakh crore to the regional GDP. The government is rolling out a comprehensive film policy and developing new film cities across Maharashtra, to accommodate growing demand.

The inaugural session also incorporated another discussion, titled Media Masterminds: Keynotes by Industry Stalwarts, bringing together leaders from across the media and entertainment spectrum to examine the forces shaping their respective ecosystems and the intersections between their industries. Speakers included Aroon Purie, founding chairman and editor-in-chief of India Today Group; Anil Kumar Lahoti, Chairman, TRAI; Sandhya Devanathan, co-chair of FICCI's Media and Entertainment Committee and vice president for India and South-East Asia at Meta; and Sam Balsara, Chairman, Madison World.

Ashish Kulkarni, Chief Mentor, FICCI FRAMES & Frame Your Idea; Founder, Punnaryug Artvision, delivered the Vote of Thanks.