Entertainment sector to post 20% CAGR by 2007: Ficci

The domestic entertainment industry is expected to grow at a CAGR of 20 per cent from the current size of around Rs 166 billion to Rs 419 billion by 2007, said Amit Mitra, secretary general of the Federation of Indian Chambers of Commerce and Industry (FICCI). He was addressing the inaugural session of the Frames 2004.

Frames 2004 is the Asia biggest convention on the business of entertainment, organised annually by FICCI, aimed at highlighting the potential of Indian media and entertainment industry on a global scale.

The convention, slated for March 17-18 in Mumbai, will emphasise on India as a emerging market for global conglomerates.

Issues facing the emerging entertainment economy will occupy centter stage at Frames 2004. Media and entertainment industry big-wigs from across the globe will be attending the convention.

Some of the topics at the convention will include: what's so magical about this industry that it's giving Hollywood run for its money; is Indian market mature enough to be lucrative for MNCs to foray in; what skill sets does Indian game development houses need to move up in to the value chain; what needs to be done to bridge the gap that exists between world gaming industry life cycle and that of India; would India be able to leverage upon its strong talent pool of software developers for game development.