Nepal Industry Minister Anil Jha meets Shatrughan Sinha, prominent actor and Lok Sabha MP, Patna Sahib
Nepal Industry Minister Anil Jha visited Shatrughan Sinha, the Lok Sabha MP from Patna Sahib. Jha was accompanied by his wife, Dr Dimple Jha, Chairperson, Radio Sanskriti, Nepal during his official visit to India to meet his Indian counterpart, Commerce & Industries Minister, Anand Sharma.
Chandrakishore Jha, media trainer and senior journalist and columnist from Nepal, Ajit Kumar, CEO, Radiance Media Group and Secretary, Bihar Foundation, Delhi-NCR and Surendra Singh from Radiance Media was also present on the occasion. They shared their views and bonding between India and Nepal and more specifically with Bihar and the deep family and personal relations.
Shatrughan Sinha, the filmmaker also suggested ways to improve the entertainment business in Nepal and offered his support. He reminded of of the old days when many films where shot at Kathmandu and urged the Nepalese minister to revive the industry. He agreed the lead the initiative and lead a delegation of filmmakers and visit Nepal on the request of the Nepalese minister to boost the industry if Nepal plans a conference on the media and entertainment sector.
Ajit Kumar presented the outline of the the proposed Media & Entertainment Summit. "The summit will outline a sectoral vision for the next decade and seek solutions and suggestions from the media barons, policy and regulatory heads, government officials and ministers of both India and Nepal for strengthening the media and entertainment sector.
Collaboration opportunities between Indian and Nepalese Cinema, Television, Radio, Advertising, PR and Events Industry, Digital Entertainment and News media of the two countries will be discussed,"
He elaborated, "Deliberations would be held on Content, Marketing, Regional and International Distribution, Delivery, Other Innovative Trends, Connecting the Creative Industries and Financing Media & Entertainment (M&E)Business, New Methods, Technologies, Animation, Digitization, 3D Movies, Games, Media & Entertainment for Kids, Children and Youth, New Applications, Advertising & New Radio Business, Retail, Licensing & Merchandising, Market Research, New Genres and Global Formats, Emerging Opportunities, The Changing Face of Journalism, Mobile & Social Media and Electronic News and the Role of Civil Society and Business Chambers. There will be an effort to mutually promote and have partnerships that suits business and people of both nations"
The has been ample research and study on this. FICCI, one of the leading Indian Business Chambers organises FICCI-Frames every year. The FICCI-KPMG study has shown the vibrant and prospective potential of the India Media & Entertainment Industry that can help the neighbour Nepal also that already has a good scope for expanding its Nepalese, Maithili, Bhojpuri, Hindi and English, Film, News and Radio industry.
"Overall M&E market in India is expected to grow at a compounded annual growth rate of 13 percent per annum through 2014 to reach INR 1.1 trillion. The untapped potential for growth in media reach, impact of digitisation and convergence, better consumer understanding, sustained efforts in innovation, and enhanced penetration of regional markets all augur well for the industry.
The Indian M&E industry has evolved significantly over the last decade and the pace of this evolution is only expected to increase going forward. With mobile phones becoming ubiquitous, rising mobile and internet penetration and increased use of search engines and social networking platforms, consumer patterns have witnessed a marked change in India."
M&E industry in India is indicating the huge potential for growth. "Media spend in India as a percent of GDP is 0.41 percent. This ratio is almost half of the world’s average of 0.80 percent and is much lower compared to developed countries like US and Japan. This indicates the potential for growth in spends as the industry in India matures. As we move towards a more brand-conscious society, this is likely to get reflected in the future growth rates."