India’s creative industries must move from the margins to the mainstream, becoming a core driver of the country’s economic and cultural growth, said Gaurav Banerjee, MD and CEO of Sony Pictures Networks India (SPNI).
“Our creative sector is not peripheral anymore. It should be central to India’s growth story. It creates jobs, fuels innovation, exports our identity and imagination, and strengthens our soft power. To lead globally, India must invest in creativity with the same ambition and vision that we bring to technology,” Banerjee said, delivering the keynote address at FICCI Frames 2025 in Mumbai.
Banerjee called for a bold rethinking of how India nurtures and scales creativity, urging policymakers and industry leaders to build stronger institutions and funding mechanisms to power the country’s next phase of media growth.
He noted that India’s media and entertainment sector, now worth nearly $30 billion and contributing about 0.7% of GDP, continues to be driven almost entirely by domestic demand. “So the question before us today is what is it that it will take to grow this astronomically? Where and how will the next big league come from?” he asked.
Banerjee identified three key inflection points in India’s creative evolution: the launch of Kaun Banega Crorepati at the turn of the century, the creation of the IPL in 2008, and the rise of pan-India storytelling through shows like Satyamev Jayate and films like Baahubali.
“Now the problem is that the last of these big, noteworthy innovations happened 10 years ago,” he said. “So, for the last decade, we have been waiting for the next big league in massive-scale innovation that fans will truly root for and love.”
He said the next creative leap must come from aggregating human capital and building ecosystems that nurture authentic storytellers.
“The closest Indian model that I can think of, where truly human capital has been aggregated and a centre of excellence has been created, is the Indian Premier League. The IPL has created, firstly, a strong talent pipeline that includes local leagues, state-level leagues, under-19 teams and talent scouts, all of it in the service of building a great talent pipeline,” he said.
Banerjee praised the Malayalam film industry for showing what a thriving creative ecosystem can achieve. “Just this last weekend, I had the privilege of watching Lokah Chapter One. No film has enthralled me as much as this film did after Baahubali. And it’s not just about me and my creative pursuits. I am told that a movie that costs less than 30 crore has already done today a box office of over 300 crore. That is the kind of audience, that’s the kind of commercial success that’s possible,” he said.
He also highlighted Aavesham and Manjummel Boys as part of a string of successful Malayalam films that show how sustained investment and creative freedom can yield outstanding results.
To accelerate this momentum, Banerjee said India must build “creative institutions and centres of excellence that nurture talent,” as well as forge stronger collaborations between academia and industry. “If there is Stanford University, that has to be built first and Silicon Valley will follow. And I think in India, we need to be building these connections very, very strongly,” he said.
Calling on stakeholders to act with urgency, Banerjee said, “We need to create an ecosystem today that identifies and nurtures this style. And that’s where India’s answer to Squid Game, or the next Lagaan, still here and going and getting an Oscar nomination, will get created.”
“Our creative sector is not peripheral anymore. It should be central to India’s growth story. It creates jobs, fuels innovation, exports our identity and imagination, and strengthens our soft power. To lead globally, India must invest in creativity with the same ambition and vision that we bring to technology,” Banerjee said, delivering the keynote address at FICCI Frames 2025 in Mumbai.
Banerjee called for a bold rethinking of how India nurtures and scales creativity, urging policymakers and industry leaders to build stronger institutions and funding mechanisms to power the country’s next phase of media growth.
He noted that India’s media and entertainment sector, now worth nearly $30 billion and contributing about 0.7% of GDP, continues to be driven almost entirely by domestic demand. “So the question before us today is what is it that it will take to grow this astronomically? Where and how will the next big league come from?” he asked.
Banerjee identified three key inflection points in India’s creative evolution: the launch of Kaun Banega Crorepati at the turn of the century, the creation of the IPL in 2008, and the rise of pan-India storytelling through shows like Satyamev Jayate and films like Baahubali.
“Now the problem is that the last of these big, noteworthy innovations happened 10 years ago,” he said. “So, for the last decade, we have been waiting for the next big league in massive-scale innovation that fans will truly root for and love.”
He said the next creative leap must come from aggregating human capital and building ecosystems that nurture authentic storytellers.
“The closest Indian model that I can think of, where truly human capital has been aggregated and a centre of excellence has been created, is the Indian Premier League. The IPL has created, firstly, a strong talent pipeline that includes local leagues, state-level leagues, under-19 teams and talent scouts, all of it in the service of building a great talent pipeline,” he said.
Banerjee praised the Malayalam film industry for showing what a thriving creative ecosystem can achieve. “Just this last weekend, I had the privilege of watching Lokah Chapter One. No film has enthralled me as much as this film did after Baahubali. And it’s not just about me and my creative pursuits. I am told that a movie that costs less than 30 crore has already done today a box office of over 300 crore. That is the kind of audience, that’s the kind of commercial success that’s possible,” he said.
He also highlighted Aavesham and Manjummel Boys as part of a string of successful Malayalam films that show how sustained investment and creative freedom can yield outstanding results.
To accelerate this momentum, Banerjee said India must build “creative institutions and centres of excellence that nurture talent,” as well as forge stronger collaborations between academia and industry. “If there is Stanford University, that has to be built first and Silicon Valley will follow. And I think in India, we need to be building these connections very, very strongly,” he said.
Calling on stakeholders to act with urgency, Banerjee said, “We need to create an ecosystem today that identifies and nurtures this style. And that’s where India’s answer to Squid Game, or the next Lagaan, still here and going and getting an Oscar nomination, will get created.”
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