The Union Minister for Information & Broadcasting and Textiles, Smriti Zubin Irani inaugurated the FICCI Frames 2018, in Mumbai. She has also released the FICCI-EY Media & Entertainment Report 2018 named ‘Re-imagining India’s M&E Sector’.
As per the report, the Indian M&E sector hit Rs 1.5 trillion ($22.7 billion) in 2017, growth of around 13% over 2016. With its current trajectpory, it is expected to cross Rs 2 trillion ($31 billion) by 2020, at a CAGR of 11.6%.
Source- Press Information Bureau (PIB)
Static/Current Takeaways Important for Exams-
- FICCI stands for Federation of Indian Chambers of Commerce and Industry.
- President of FICCI- Rashesh Shah.