Why in news?

The Central government will invest $1 billion to support India’s creators’ economy. The funds will help creators enhance their skills, upgrade production, and expand into global markets, as announced by Information and Broadcasting Minister Ashwini Vaishnaw.

What’s in today’s article?

• Creators’ Economy
• India’s $1 Billion Investment in the Creators’ Economy

About Creators’ Economy

• The creators’ economy refers to a digital-driven ecosystem where individuals—such as content creators, influencers, bloggers, and independent artists—monetize their skills and creativity through social media platforms, digital content, and online businesses.
  • Creative Economy is also refereed to as Orange Economy.
• This sector includes video creators, podcasters, gamers, educators, and independent writers who generate revenue through brand collaborations, subscriptions, advertisements, and merchandise sales.
• Factors Behind India’s Strategic Push Towards the Creators’ Economy
  • Growing Digital User Base
    • India has over 800 million internet users, making it one of the largest digital markets in the world.
    • The widespread use of smartphones and affordable data has fueled content consumption.
  • Employment & Economic Growth
    • The sector has the potential to generate self-employment and entrepreneurship opportunities, reducing reliance on traditional job markets.
  • Soft Power & Global Influence
    • Indian content creators are gaining international recognition, helping project India’s cultural and linguistic diversity to a global audience.
  • Tech-Driven Economy
    • With advancements in AI, AR/VR, and blockchain, new monetization models such as NFTs and decentralized platforms are emerging, making the sector more lucrative.
  • Diversity of Regional Content
    • The rise of vernacular content is expanding India’s digital economy beyond English and Hindi, tapping into a vast regional audience.
• Challenges Faced
• Indian creators face numerous challenges, including inconsistent monetization opportunities, stringent platform algorithms, and limited brand collaborations.
• Intellectual property protection remains a concern, with content piracy and lack of legal awareness affecting earnings.
• Steps Taken by the Indian Government
  • $1 Billion Investment – Announced by the government to support skill enhancement, production quality, and global expansion of Indian creators.
  • Digital India & Start-up Ecosystem – Policies such as Digital India, Make in India, and Startup India are fostering an environment conducive to digital entrepreneurship.
  • PLI Schemes for Electronics – Encouraging local manufacturing of devices such as smartphones, cameras, and laptops that aid content creation.
  • Regulatory Support & Infrastructure – Initiatives like 5G rollout and improved broadband penetration to enhance content creation and streaming quality.
  • Support for Vernacular & Regional Creators – Promotion of Indian languages on digital platforms to ensure inclusivity and wider audience reach.
  • AI & Digital Skill Development – Focus on AI-based content moderation and creator upskilling to ensure ethical and high-quality content.

India’s $1 Billion Investment in the Creators’ Economy

• High-Level Engagement Ahead of WAVES 2025
  • Ahead of the World Audio Visual and Entertainment Summit (WAVES) 2025, a high-level session was hosted by the government to engage the international community.
    • WAVES 2025 will facilitate joint ventures, co-productions, and business expansion in the media and entertainment sector.
  • Participants highlighted how the intersection of creativity, media, and technology is reshaping the industry and emphasized WAVES 2025 as a key platform for innovation and collaboration.
• The Role of WAVES 2025 in the Orange Economy
  • The government highlighted WAVES 2025’s role in leveraging the media and entertainment industries for economic growth and job creation.
  • The summit will serve as a bridge for cultural diplomacy, fostering unity and global harmony through creative industries.