Indians consume 20 GB of data per month on average, a number projected to grow to 46 GB by 2027. Referring to the trend that started with Jio’s vision in 2015 to connect everyone, everywhere, Jyoti Deshpande, Chairperson – FICCI Media & Entertainment Committee and CEO, Viacom India, noted that the rich and diverse nature of India’s stories has now captured the imagination of the world. She was addressing delegates at the 23rd edition of FICCI Frames, which opened with an AV tribute to Oscar winners ‘The Elephant Whisperers’ and RRR’s ‘Naatu Naatu’.
Deshpande pointed to the Indian content universe, which was referred to by many as highly fragmented. Despite which, Jio unveiled its content slate of over a 100 shows in what she referred to as the ‘Jioficiaton’ of the content industry.
“It would be my dream to crash through every prediction made today (in the annual FICCI M&E report by EY). No one innovates like India. No one can implement at scale like India,” surmised Deshpande.
Welcoming delegates, Subhrakant Panda, Managing Director, Indian Metals & Ferro Alloys and Chairman of FICCI, said, “Growing at a CAGR of 10.5 percent, the M&E sector is set to reach 2.86 cr by 2025. In 2022-’23, it grew by 11.4 pc, which speaks volumes about the industry’s resilience.”
He attributed the growth to the vast and variable consumer base and consumption across different formats.
“FICCI is committed to supporting the Indian M&E industry’s global ambitions,” he said.