India will become the entertainment hub of the world: Mukesh Ambani

 The economic power of the Global South, which accounts for 85 per cent of the world’s population, is rapidly rising, and this means most of the creation and consumption of media and entertainment products will start taking place in Asia, Africa, and South America, he said.

He added that India is the real power because culture and arts have the power to unite the world.

 Ambani said that India’s media and entertainment industry stands at $28 billion and can easily reach $100 billion in the next decade, which will give birth to huge opportunities in employment and entrepreneurship in diverse fields.

 While talking about his third idea, Ambani said that Indians should forge partnerships and collaborations with innovative entrepreneurs, artists, and studios from around the world.

 Speaking about technology and artificial intelligence (AI), Ambani said these tools are proving to be even more disruptive for the creative economy.

 Ambani pointed out that this fast-changing scenario offers an unbeatable advantage. The first being content, the second demography, and the third is technology.

 He said the Indian economy will become the third-largest globally, and this potential will make India the world’s largest media and entertainment market.

 On the subject of technology, Ambani said that India is leading the technological revolution in media and entertainment.

 He said Indian VFX is powering Hollywood blockbusters. “We produce several million hours of content every year… we are multilingual, multi-format, and multi-platform by design,” Ambani said.

 India’s digital infrastructure, built on 5G, will soon be elevated to 6G, and the 1.2 billion mobile phones in India are potential 1.2 billion screens on which users can access entertainment and even share user-generated content.

On JioHotstar, Ambani said that the company has created it with the ambition of equalling — even surpassing — the impact of leading creators of entertainment globally. He said that JioHotstar will provide a platform for the best and brightest talent from India and abroad.

He also said that today, the world is highly polarised and full of turbulence and uncertainty