'India can become outsourcing hub for entertainment content'

Monday, 24 November 2003, 08:00 Hrs
Printer Print Email Email
NEW DELHI: India can emerge as the global outsourcing hub for production of a wide spectrum of entertainment content by capitalising on its vast base of qualified professionals and low cost of production, said experts Monday.

"We have abundant talent that can take on the rest of the world," said Peter Mukherjea, chief executive officer of STAR TV India, while speaking at a session at the India Economic Summit 2003 here.

The three-day business meet, which began Sunday, is being jointly organised by the World Economic Forum and the Confederation of Indian Industry (CII).

"India has phenomenal opportunity to produce entertainment content at a sharply lower cost than other countries. Many South Asian countries are keen to watch good quality entertainment products," said Mukherjea.

"As a marketplace, India has great opportunity in developing quality entertainment content for other countries over the next five to six years," he said.

Mukherjea said the domestic entertainment industry, including the film and the television sectors, needed to attract and harness young professionals for growth in the years ahead.

"The entertainment industry is slowly becoming the career of choice for scores of graduates in the country. We have so far not been able to tap and harness the growing talent base.

"If we invest good money into the entertainment industry and attract good talent, we will see the segment rocking over the next few years."

Filmmaker Shekhar Kapur said 70 percent of global revenue in entertainment business would come from Asia over the next 10 years.

"Even in India we have just touched the tip of the iceberg. We have a huge amount of work to do in India. We must use the latest technologies that are being used in the entertainment industry in other countries," he said.

Kapur said the domestic entertainment industry officials must invest more on research and development to bring down the cost of production and crate quality products for global audience.

"The greatest consumers of entertainment products in the world are the greatest producers of entertainment. So India has a huge opportunity in this field and we need to tap it at the earliest."

Source: IANS
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..