New Delhi, Feb 16 (IANS): India’s media and entertainment sector is on a steady expansion path, with revenues projected to grow at around 7 per cent annually till 2027, and the sector's total size is estimated to rise from Rs 2,502 billion in 2024 to Rs 3,067 billion in 2027, underscoring its role as a durable growth engine within the services economy, according to an official statement issued on Monday.

The sector supports over 10 million livelihoods, directly and indirectly, and its annual output stands at approximately Rs 3 lakh crore.

This trajectory reflects more than sectoral expansion. It signals the consolidation of creativity as a strategic capability, linking economic growth with global influence in an increasingly platform-driven world. Animation, Visual Effects, Gaming, Comics, and Extended Reality, collectively referred to as AVGC-XR, represent the most technology-driven frontier of the creative economy, the statement observed.

Gaming has evolved into a mainstream digital medium woven into daily life, while animation and VFX shape the visual language of global entertainment. Together, these sectors convert creativity into scalable intellectual property, positioning AVGC-XR and gaming at the heart of the next phase of the global creative economy, it said.

India’s animation, visual effects, comics, and XR ecosystem now operates as a globally connected production base. Indian teams contribute to international films, streaming content, advertising, and immersive experiences, working within tightly integrated global workflows. The sector reflects growing technical depth and creative confidence.

Gaming has become one of the most visible expressions of India’s digital transformation. Across metros and small towns, millions log in each day to compete, collaborate, and build virtual worlds of their own. Mobile devices double as arenas and social spaces, blurring the line between entertainment and interaction, the statement said.

That scale of participation has translated into structured market growth. India now ranks among the world’s largest gaming markets, supported by a vast and deeply engaged user base. Rising monetisation, expanding domestic studios, and stronger integration with global platforms are transforming gaming from mass engagement into a scalable digital industry.

Across countries, this creative sector contributes between 0.5 and over 7 per cent of GDP, with live entertainment generating strong spillovers across tourism and urban services. Within this global transformation, India’s creative economy is emerging as a major pillar of growth, employment, and value creation, the statement added.

(IANS)

This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.