India’s media and entertainment industry grew by 11% to $14.5bn (Rs652bn) in 2010 according to a report issued by KPMG at the FICCI Frames conference in Mumbai this week.
The industry is expected to grow by 13% in 2011 and reach $28bn (Rs1,275bn) by 2015. All sectors registered growth except the film industry which has been hit by a downturn in production volumes since a funding crunch in 2009.
However, the report predicts that the Indian film industry will grow from $1.8bn (Rs83bn) to $2.9bn (Rs132bn) by 2015, due to an increase in multiplex screens, investment in research and continued cost corrections.
Meanwhile India’s TV industry grew by 15.5% in 2010 is expected to hit $14bn (Rs630bn) by 2015.