Creators’ Economy

Context

The Central government will make investments of $1 billion to assist India’s creators’ economy. 

Key Highlights

• 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 have interaction with the international community.
    • WAVES 2025 will facilitate joint ventures, co-productions, and business enlargement in the media and leisure sector.
    • Participants highlighted how the intersection of creativity, media, and generation is reshaping the industry and emphasised WAVES 2025 as a key platform for innovation and collaboration.

• The Role of WAVES 2025 within the Orange Economy

• • The government highlighted WAVES 2025’s role in leveraging the media and leisure industries for financial growth and job advent.
  • The summit will function as a bridge for cultural international relations, fostering unity and international concord by creative industries.

About Creators’ Economy

• The creators’ economy refers to a digital-pushed environment wherein people—along with content material creators, influencers, bloggers, and unbiased artists—monetize their skills and creativity via social media structures, digital content material, and online companies.
  • Creative Economy is also referred to as Orange Economy.
• This sector consists of video creators, podcasters, gamers, educators, and independent writers who generate revenue via logo collaborations, subscriptions, commercials, 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 high use of smartphones and low-cost records has fueled content intake.

• Employment & Economic Growth

• • • The sector has the capability to generate self-employment and entrepreneurship opportunities, lowering reliance on conventional job markets.

• Soft Power & Global Influence

• • • Indian content material creators are gaining global recognition, supporting mission India’s cultural and linguistic diversity to a global target market.

• Tech-Driven Economy

• • • With advancements in AI, AR/VR, and blockchain, new monetization models along with NFTs and decentralized platforms are rising, making the world more rewarding.

• Diversity of Regional Content

• • The upward push of vernacular content material is expanding India’s digital economy past English and Hindi, tapping into a tremendous regional target market.

Challenges 

• Indian creators face several challenges, consisting of inconsistent monetization opportunities, stringent platform algorithms, and confined brand collaborations.
• Intellectual property security remains a difficulty, with content material piracy and absence of legal cognizance affecting income.

Steps Taken by the Indian Government

• $1 Billion Investment: Announced by the government to assist ability enhancement, production, and international growth of Indian creators.
• Digital India & Start-up Ecosystem: Policies along with Digital India, Make in India, and Startup India are fostering an environment conducive to digital entrepreneurship.
• PLI Schemes for Electronics: Encouraging local production of gadgets including smartphones, cameras, and laptops that resource content advent.
• Regulatory Support & Infrastructure: Initiatives like 5G rollout and progressed broadband penetration to decorate content material advent and streaming quality.
• Support for Vernacular & Regional Creators: Promotion of Indian languages on digital systems to ensure inclusivity and wider target audience reach.
• AI & Digital Skill Development: Focus on AI-based content material moderation and creator upskilling to ensure ethical and top notch content material.

Source: The Hindu

UPSC Mains Practice Question

Q. Discuss the challenges and opportunities associated with the growth of creative economy in India.

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