After tough 2012, India's media and entertainment (M&E) sector is expected to grow 11.8% this year to Rs 91,700 crore from the Rs 82,000-crore mark last year, said a joint report released by the Federation of Indian Chambers of Commerce and Industry (FICCI) and KPMG on Tuesday.
The main growth drivers for the M&E sector will be digitisation, growing regional media and the upcoming elections, the report said.
The was released during FICCI-Frames, an annual three-day get-together of the media and entertainment sector including its various arms such as films, broadcast (TV & Radio), digital entertainment, animation, gaming, visual effects, etc.
"Indian media and entertainment industry can be a real economic engine," said Uday Shankar, chairman, FICCI M&E Committee. "This industry is an economic enterprise and is capable of creating employment and wealth much faster than most other sectors."
According to the report, advertising expenditure in the media space grew 9% to Rs 32,740 crore in 2012. Print accounted for 46% of this.