OTT users: India set to add 30 crore more OTT users: Anurag Thakur

India’s OTT market is ready to develop at 21 per cent yearly, Info and Broadcasting Minister Anurag Thakur mentioned on Thursday whilst he invited overseas producers to shoot movies within the nation. Talking on the “India Discussion board” in Cannes, Thakur mentioned the federal government will take all measures to hurry up co-production from all over the world and likewise provide one of the best places in India for movie shoots.

“We’re poised to take one other leap as 300 million (30 crore) residents are set to attach on-line as India marches forward in cementing its area within the media and leisure sector,” the minister was quoted as saying in a press launch.

Thakur mentioned Indian startups within the media and leisure sector will showcase their technological prowess and pitch to one of the best within the animation, visible results, gaming and comics (AVGC) business.

He mentioned the federal government has envisioned main initiatives over the past eight years to spice up co-productions, movie shoots and movie facilitations in India.

The minister mentioned states equivalent to Uttar Pradesh and Madhya Pradesh have formulated their very own movie facilitation insurance policies and offered co-production alternatives.

He mentioned these efforts are geared toward boosting India’s media and leisure ecosystem, which is predicted to generate USD 53 billion yearly by 2025.

“The federal government of India has formally designated audiovisual providers as one of many 12 ‘champion service sectors’ and lately arrange an AVGC process power comprising business leaders to organize a coverage roadmap for India to take a quantum leap on this sector and place us as the popular ‘post-production hub of the world’,” Thakur was quoted as saying within the launch.