The growth of the Indian media and entertainment industry, which has been thriving for years, may now slow down due to the coronavirus pandemic. The Ministry of Information and Broadcasting informed in the Lok Sabha that the country's entertainment industry's revenue could decline by 16 percent in the current financial year.
Media and television account for billions in the Indian economy. In 2017-18, the contribution of the film industry to the GDP was Rs 145 billion, which jumped in the next two years to Rs 183 billion in 2019-20. Whereas in 2018-19, the contribution of the film industry to the country's GDP was Rs 159 billion.
At the same time, the television industry has a major contribution to the country's GDP. While the contribution of television to GDP in the year 2017-18 was Rs 595 billion, it increased continuously in the next two years to reach Rs 714 billion in 2019-20. Whereas in the year 2018-19, television contributed 652 billion rupees to GDP.
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