FICCI Frames 2024 Inaugurated in Mumbai

Mumbai: The 24th edition of FICCI Frames commenced today in Mumbai, with the inaugural session witnessing the presence of distinguished personalities, including Mangal Prabhat Lodha, Minister for Skills Development and Entrepreneurship, Government of Maharashtra; Sanjay Jaju, Secretary, Ministry of Information and Broadcasting; Actor Rani Mukherjee; Anant Goenka, FICCI Vice President; Kevin Vaz, FICCI Chair of Media & Entertainment Committee; and Ashish Kulkarni, FICCI Chair for AVGC.

Addressing the gathering, Sanjay Jaju, Secretary, Ministry of I&B, highlighted the pivotal role played by the Media & Entertainment (M&E) sector in shaping society and influencing perspectives. He acknowledged the industry’s unique characteristics, combining growth and employment intensity with constant disruptive innovations. The sector, he stated, serves as a beacon for the nation and resonates deeply with the diverse tapestry of Indian life.

Jaju pointed out that India is undergoing digital transformation, leading to rapid shifts in the M&E sector. With 90 crore internet users, 60 crore+ smartphones, and 4 crore+ connected TVs, the digital infrastructure is robust. The M&E sector’s estimated size is around 2 lakh crore, witnessing substantial growth of 30 percent year-on-year in the digital media segment.

Highlighting the government’s focus on creating a conducive environment for the industry, he mentioned various initiatives, including amendments to the Cinematograph Act, IT Intermediary Guidelines, Digital Media Ethics Code (Rules), and enhanced FDI limits in cable and DTH sectors. He emphasized the imminent National AVGC policy and the establishment of a National Centre of Excellence for AVGC and Extended Reality sector.

The I&B Secretary announced a scheme offering incentives to foreign filmmakers for shooting in India, promoting co-production treaties, and showcasing India’s cinematic culture through international film festivals.

Actor Rani Mukerji expressed that FICCI FRAMES 2024 has set the agenda for the ever-changing media and entertainment industry, noting the growing demand for unique and innovative content delivery.

The inaugural session also saw the launch of the FICCI-EY Report, “Reinvent – India’s Media & Entertainment Sector Is Innovating For The Future.”

FICCI FRAMES 2024, a three-day conference, provides a platform for communication and exchange among M&E stakeholders, attracting professionals from India and abroad representing various industry sectors.