India’s Screen Boom: Film, TV & Streaming Drive Rs 5.14 Lakh Crore Economic Boost in 2024

India’s film, television, and online video services industry generated a staggering $61.2 billion (Rs 5.14 lakh crore) in economic value in 2024, cementing its position as a powerhouse of the country’s creative economy. The revelation comes from a new report released by the Motion Picture Association (MPA) in collaboration with Deloitte, unveiled at the first-ever World Audio Visual Entertainment Summit (WAVES) held in Mumbai.

Far from just box office numbers, the report showcases the broader economic footprint of India’s screen sector. It supported over 2.64 million jobs across production, distribution, tech, and creative services—making it one of the largest cultural employers in the country.

The study estimates that the direct gross output from the sector in 2024 stood at $16.8 billion (Rs 1.41 lakh crore), pointing to a robust rebound from pandemic-era disruptions. Demand for Indian films, dramas, and live sports content has soared—across both big screens and personal devices—driven by a content-hungry audience and rising global interest in Indian storytelling.

Looking ahead, the industry’s future appears even brighter. With a projected Compound Annual Growth Rate (CAGR) of 6–7%, it is expected to touch USD 17.5 billion (Rs 1.47 lakh crore) by FY2029. If India can unlock regulatory support and ease of doing business in the content space, the report says growth could accelerate to 9–10% CAGR, pushing combined revenues close to USD 20 billion (Rs 1.65 lakh crore).

Charles Rivkin, Chairman and CEO of the MPA, called India a “critical global market” for international studios. “Its dynamic film, TV, and streaming industry is not just a driver of jobs and GDP, but also a powerful force of cultural influence. We’re committed to deeper investment and partnerships in India’s creative ecosystem,” he said.

The report was launched jointly by the Ministry of Information & Broadcasting, MPA, and JioStar, with support from the Federation of Indian Chambers of Commerce & Industry (FICCI), the Producers Guild of India (PGI), and Creative First.

Read This Also: Inside Warren Buffett’s 60th AGM: Tariff Shocks, Record Cash, and What’s Next for Berkshire Hathaway