The fund announced by central government will be used to enable digital content creators to enhance their skills, upgrade their production, and expand into global markets.
- Funds have also been allocated for establishing the Indian Institute of Creative Technology (IICT) to foster expertise in creative and digital technologies.
What is creators’ economy?
- It is a rapidly expanding field comprising artists, educators, gaming streamers, video creators, podcasters, and others who monetize their creative content on digital platforms such as YouTube and Instagram.
- Globally, size of creators economy is expected to double from $250 billion (2023) to $480 billion(2027)
- It is an emerging field within the larger ‘Orange Economy’ (or ‘Creative Economy’), which consists of advertising, architecture, arts, music and movie production etc.
Significance of creators’ economy for India
- Contribution to GDP: E.g. YouTube's ecosystem alone added >₹10,000 crore to India's GDP (2022).
- India’s overall orange economy was valued at $30 billion in 2024, contributing nearly 2.5% to India’s GDP.
- Employment Generation: It provides livelihoods to millions of creators, influencers and knowledge professionals through brand collaborations, sponsored content, merchandise sales etc.
- Soft Power: Content in areas like music, dance, education etc. has gained international appeal, enhancing India's soft power and bringing in foreign revenue.
Challenges in India’s creators’ economy
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