The Media and Entertainment industry in India is set to create 7-8 lac jobs by the year 2022, according to the latest media report. As part of the report which is going to be launched tomorrow at CII Big Picture Summit, ‘Media & Entertainment: The Nucleus of India’s Creative Economy’ by CII-BCG, the direct economic impact of the industry is INR 1,35,000 crore and including the direct and indirect benefits to the economy, it contributes to 2.8% to India's GDP.
“Digital platforms are proliferating and there are tremendous opportunities that never existed before — especially for creators, storytellers and technology providers,” said Chandrajit Banerjee, director general, CII
“Skilling is a major challenge as well as an opportunity for M&E industry as it can open new job prospects for young India.”
Apparently, according to the report, the workforce in the media and entertainment industry by 2022 would be unrecognizable. There would growth in areas of analytics, big data, and technology within the industry, which would lead to the requirement for skillsets in the same domain. Companies and media houses need to start planning for acquiring the right talent if they wish to successfully transition to the next stage of the media industry, and also to ensure the sustainability of their growth in the future.
“It’s the need of the hour for the industry to identify creative, technological and analytical skills that will be required over the next 5-7 years to restructure its business model for the upskilling exercise,” said Kanchan Samtani, Partner at BCG, “Talent agenda is the key aspect for expansion of the sector.