A Review on Internationalization of Indian Entertainment Industry

Abstract

Entertainment is all that which amuses and involves his/her attention during leisure time is a important part of our life, being a bread winner for millions of people branding Indian culture globally. The Indian Media and Entertainment industry that is growing exponentially at a compounded annual growth rate (CAGR) of 12.5% is forecasted to reach US $ 37.55 billion by 2021 outshining the global average of 4.2%. The segment that comprises of television, films, print, radio, music, animation and gaming apart from Visual Effects (VFX) and Internet advertising is expanding explosively in terms of revenue and volumes providing employment to creative and technical people. The industry gained momentum post liberalization, headed for internationalization foraying into multinational markets. In the current era increasing number of firms have advanced to gain through internationalization of its domestic services taking advantage of improved ICT capabilities, to increase market presence and capture high pocket size of the customers through proactive people centric strategies. As survival of a company in cut throat competitive market space has become all the more difficult thus internationalization poses a natural solution to cover the risk along with grabbing a higher market share, new customers and cost effective solutions with modern technology and supply chain. This paper is an effort to uncover the impact of internationalization of Indian Entertainment industry and huge potential for providing employment, earning Foreign exchange and rest.