Industry has grown from ₹25,000 crore in 2000 to about ₹2.5 lakh crore today: Sanjay Jaju, Secretary, Union Ministry of Information and Broadcasting  

Mumbai : Speaking during a fireside chat at the 25th edition of FICCI Frames, Shri Devendra Fadnavis, Chief Minister of Maharashtra, announced an ambitious four-year timeline to transform Mumbai’s Film City in Goregaon into a world-class film ecosystem, signalling the state’s determination to cement India’s position as a global content production hub.

The fireside chat with Renowned Actor & Producer, Padma Shri Akshay Kumar, saw CM Fadnavis acknowledging that the project had remained unexecuted during his previous tenure between 2014 and 2019 despite extensive planning. ‘This time I have decided that we will convert Film City into a world-class film ecosystem,’ he told Akshay Kumar, who directly requested the chief minister to prioritise the transformation. The chief minister added that the transformation would begin within a year. 

The announcement comes as India’s creative economy reaches an inflection point, with the media and entertainment sector expanding tenfold over the past quarter century. Mr Sanjay Jaju, Secretary, Union Ministry of Information and Broadcasting, revealed that the industry has grown from ₹25,000 crore in 2000 to about ₹2.5 lakh crore today.

Bollywood Star and FICCI Framed Ambassador, Mr Ayushmann Khurrana, said the silver jubilee edition of the event reflects the platform’s role in unifying creative professionals and shaping the Indian entertainment industry over a quarter century. ‘Indian stories and talents are bringing us global recognition, with FICCI at the forefront acting as a catalyst for change,’ the national film award-winning actor said. ‘We have more than a billion stories to tell and today is our time.’

Shri Fadnavis also pledged to develop specific strategies to connect younger audiences with Marathi cinema, acknowledging that the state government had not previously made targeted efforts despite the regional industry’s creative strength. ‘You have given me a new mantra — how to connect Gen Z to Marathi films. Now I will work on this,’ he told actor Akshay Kumar.

The Film City redevelopment will incorporate state-of-the-art studios designed to accommodate emerging technologies including virtual production, artificial intelligence and advanced visual effects capabilities. The site already houses the Indian Institute of Creative Technology, a unique institution owned 52 per cent by industry bodies, such as FICCI, with the remainder held by the governments of Maharashtra and India.

Mr Jaju outlined the government’s broader vision for the sector, highlighting that digital media is growing at twice the rate of India’s GDP, whilst the animation, visual effects, gaming and extended reality segment is expanding at 30 per cent annually. Indian content now travels to over 200 countries, he noted, carried by streaming platforms including Netflix, Amazon Prime and JioStar.

The secretary identified several critical challenges facing the industry, including piracy, which has implications for national security and money laundering, misinformation eroding public trust, and the need for fair revenue distribution to content creators. ‘It’s important that this growth comes with great responsibility,’ he said, emphasising the government’s commitment to balancing expansion with ethical standards.

Mr Anant Goenka, Senior Vice President, FICCI and Vice Chairman of RPG Group, said the establishment of the Indian Institute of Creative Technology represents a milestone for the industry. The institution, conceived as an industry-led platform, addresses critical needs including workforce skilling, research and development, innovation and policy alignment whilst supporting states in framing animation, visual effects, gaming and extended reality policies.

FICCI Frames, marking its silver jubilee, has evolved alongside the industry since the government formally granted media and entertainment industry status in 2001. That designation opened institutional finance channels, enabling capital inflows and risk-taking in content, infrastructure and technology. Goenka described the platform as ‘the bridge between government, industry and academia’, noting that media and entertainment serves as a pillar of India’s soft power and cultural diversity. 

Mr Kevin Vaz, Chairman, FICCI’s Media and Entertainment Committee and CEO, Entertainment at JioStar, noted that over the past 25 years, FRAMES has mirrored the extraordinary journey of India’s media and entertainment sector, from being granted industry status to emerging as a global creative force. As we enter a new era, our collective focus must be on enabling sustainable growth through innovation, collaboration and light-touch regulation that empowers creativity. With business, technology and storytelling moving together, India’s M&E industry will not just grow,  it will lead the world.

Adv. Shri Ashish Babaji Shelar, Minister of Cultural Affairs and Information Technology, Government of Maharashtra, said the state’s media and entertainment sector contributes over ₹2 lakh crore to the regional GDP. The government is rolling out a comprehensive film policy and developing new film cities across Maharashtra to accommodate growing demand.

The inaugural session also featured a session titled Media Masterminds: Keynotes by Industry Stalwarts,bringing together leaders from across the media and entertainment spectrum to examine the forces shaping their respective ecosystems and the intersections between their industries. Speakers included MrAroon Purie, founding chairman and editor-in-chief of India Today Group; MrAnil Kumar Lahoti, Chairman, TRAI; Ms Sandhya Devanathan, co-chair of FICCI’s Media and Entertainment Committee and vice president for India and South-East Asia at Meta; and MrSam Balsara, Chairman, Madison World.