Recently Indian Prime Minister Narendra Modi attended the round table conference with some of today’s biggest Entertainment Company CEOs including former 21st Century Fox CEO Rupert Murdoch among others. The meeting was held to discuss the possible speeding of the process of digitalization in India, which will allow media giants to enter the Indian market to deliver to their target audience. Executives representing Sony, Discovery, Star India and Time Warner among others were present at the conference.
During the meeting Narendra Modi was applauded for his recent ‘Digital India Initiative’ through which he aims at connecting the whole nation with a technological symmetry. The PM hopes to make broadband available throughout the country, making Internet accessible everywhere. At the meeting Entertainment CEOs urged Modi to speed up the process of improving the company’s technological infrastructure. One of which was the emphasis on establishing 4G Internet on a larger scale as soon as possible.
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According to a statement given by Minister Vikas Swarup, all the representatives consider India as the biggest market for them in terms of the phenomenal growth of the entertainment channels, in terms of the youth in India wanting more such content. And thus implementing digitalization is the need of the hour. Everyone unanimously agreed that India is already a huge market for their content and they are only looking forward to expand their reach in the country.
Rupert Murdoch also tweeted, “Great hour with Indian PM Modi. Best leader with best policies since independence, but massive task to achieve in most complex nation.” PM Narendra Modi will soon be meeting with Facebook, Apple and Google representatives as well. His meeting with the top Entertainment company executives will also strengthen the career opportunities in the entertainment sector.
The ever growing rate of mobile and internet users in India is one of the potential reasons why Entertainment giants are aiming to penetrate Indian markets at this point of time. According to reports India has about 970 million mobile subscribers which is number 2 behind China that has 1.27 billion subscribers. The number is said to cross 1 billion by the end of 2015. India’s infrastructural in capabilities compared to developed countries might be one of the reasons why global service providers have been hesitant to set up their base there and the recent meeting aims to fight the same.
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