India to be 3rd largest media and entertainment market in 5 yrs: Union Minister Thakur

Union Information and Broadcasting Minister Anurag Thakur has said India will become the third largest media and entertainment market in the world in next five years.

Speaking at the inauguration of 54th edition of the International Film Festival of India (IFFI) in Panaji on Monday, Thakur also said that for the first time, IFFI has decided to bestow the best web series OTT award, acknowledging the transformative role of original content creators in the country.

“India, on one hand, has become the fifth largest economy of the world. It is also fifth largest in the world in terms of the media and entertainment industry. In the next five years, India is going to be the third largest economy in the world as well as the third largest media and entertainment market,” he said.