According to Subhash Chandra, chairman of Essel Group and founder and chairman emeritus of Zee Entertainment Enterprises, India's media and entertainment sector has transformed into a ₹2.7 trillion powerhouse generating revenues in 2025. As reported by Business Standard, this represents a dramatic expansion from just 20,000 jobs in 1992 to over 12 million people currently employed across the country. The sector now encompasses over 900 private satellite channels, 70 OTT platforms, more than 50 million content creators and 1,000 radio stations, moving far beyond traditional informational and entertainment roles.
According to Chandra's analysis reported by Business Standard, India's M&E sector has achieved significant global reach despite remaining at 0.8% of GDP. The country generates ₹10,000 crore in direct foreign exchange revenue from media and entertainment activities, with indirect revenue from enhanced merchandise exports potentially several times higher. India has established itself as the largest producer of films and second-largest TV market globally, while maintaining its position as a huge consumer market. However, Chandra notes that the sector's contribution to the economy could reach at least 5% of GDP if treated as a strategic industry rather than merely a regulatory tool.
As reported by Business Standard, Chandra identified the primary obstacle to sector growth as government treatment of M&E as a means to disseminate information rather than a strategic industry. The sector remains divided into four distinct parts: content creators, broadcasters, multi-system operators, and last-mile cable operators, all operating in silos. Chandra emphasized that India is the only large economy where the regulator has limited say, functioning more as a recommendatory body with government neither accepting nor rejecting proposed changes. He advocates for freeing the industry from regulation except for content and national security issues.
According to Chandra's assessment reported by Business Standard, the M&E sector will continue growing alongside television, with the industry's unity being crucial to prevent wasting resources on false narratives. He views streaming as a natural progression from satellite-delivered content to internet-based distribution, describing it as another form of content delivery. Chandra noted that Zee is helping sports bodies create intellectual property rights while expressing optimism about the industry's future trajectory, particularly in the context of the evolving content landscape.
