Latest news with #FICCI-EY
Economic Times
2 days ago
- Entertainment
- Economic Times
Will YouTube be an alternative to streamers or just a co-existing platform?
In the past few weeks, a new shift has taken place in discussions related to film business in the Hindi film industry. Thanks to the speculation about superstar Aamir Khan bypassing streaming platforms and releasing his new film Sitaare Zameen Par on YouTube after releasing it in theatres, two critical questions have emerged in the industry. One is: Can producers afford to bypass streaming platforms or streamers in the current ecosystem and look for other avenues for releasing films? And another is: Can releasing films on YouTube after their theatrical release emerge as a financially viable option for producers? ADVERTISEMENT Answers to these questions will determine whether there will be a new shift in the industry in terms of distribution of films. Let us explore the practical aspects contained in the answers to these questions: After the pandemic, streamers have become immensely significant to the film-making ecosystem. Digital rights have become the most potent and certain source of revenues for Hindi films producers. Post the pandemic, producers have been selling their films' digital rights to streaming platforms even before starting production of their films. In this way, producers have been raising reasonably good money required to start a film. Alternatively, after theatrical release of their films, producers have been earning or recovering a portion of their investments by selling their films' digital rights to streamers. So, the relevance of streamers in the entire business of filmmaking is not only in providing money to producers to fund films but also in helping producers in recovering a portion of their investments post theatrical after they have funded their films from other sources. According to FICCI-EY's 2025 Media & Entertainment report, in 2024, 1823 films were released in India. Interestingly, 500 of these 1823 films were released on streamers. In 2023, 1796 were released in India. In these, 416 films were released on streamers. So, between 2023 and 2024, there has been 20% growth of films releasing on streamers. Importantly, in 2024, close to 28% of films made across languages in India were released on streamers. This shows the increasing importance of streamers not only as an effective funding entity but also as a viable channel for distribution of films after their theatrical release. Number of Films Released on Streaming Platforms Year Post theatrical Release Directly on Streaming platforms 2023 359 57 2024 440 60 Source: FICCI-EY 2025 Report Tellingly, in the past three years, revenues generated from the sale of digital rights of films to streamers have become the second highest source of revenues of films after theatrical revenues. According to the FICCI-EY report, revenues from the sale of digital rights of films to streaming platforms are estimated to grow to Rs3600 crore in 2027 from Rs3100 crore in 2024. This is higher than the revenues from the sale of overseas and television rights of films in the same period. This shows how streamers have become a key source of revenues for producers. ADVERTISEMENT Revenues from Each Segment of Film Business (Rs crore) Segment 2024 2025E 2027E Domestic Theatricals 11400 11900 129 Overseas theatricals 2000 2100 2300 Digital/ Streaming rights 3100 3300 3600 Broadcast /Satellite/Television rights 1300 1400 1400 In-cinema advertising 900 900 1000 Total 18700 19600 21300 Source: FICCI-EY 2025 Report According to Anushree Rauta, head of media and entertainment practice, ANM Global, a leading law firm in media and entertainment sector in India, apart from theatrical revenues, on the average, producers recover around 50–55% of their production costs by selling digital rights of their films to streaming platforms. She shares, "Revenues from the sale of satellite rights contribute approximately 10% to total revenues of films. Revenues from the sale of music rights are about 10–20% depending on the talent engaged." ADVERTISEMENT A big advantage which distinguishes streamers from other platforms (on which films can be released) is the relatively lower time in which a producer earns or obtains revenues for his or her films. In the entertainment industry, which is capital-intensive in nature, this advantage has made streamers almost a lifeline especially for films which have A-list or well-known cast and crew. Given these facts, in today's ecosystem, it seems that producers cannot afford to bypass streamers. ADVERTISEMENT Can releasing films on YouTube after their theatrical run emerge as a financially viable option for Hindi film producers? There are favourable statistics about YouTube. According to the FICCI-EY report, YouTube dominates online video consumption in India. 92% of all online video consumption happens on YouTube. The remaining 8% of online video consumption happens on platforms which provide advertisement-supported, free and subscription videos. YouTube reaches 47.6 crore audiences in India. This is two times the audience base of the US. The FICCI-EY report foresees that YouTube is likely to reach 80 crore audience base in India by 2029 thanks to the improvement in digital infrastructure and changing consumer habits. According to a leading marketing blog and training site for Search Engine Optimisation (SEO) strategies, YouTube has 249 crore monthly active users. In 2024, YouTube shared that its premium video services YouTube Premium and premium music services YouTube Music have surpassed 10 crore subscribers, globally. ADVERTISEMENT Interestingly, in the recently concluded media and entertainment event Waves Summit in Mumbai, Neal Mohan, CEO, YouTube, said that in the past three years alone, YouTube has paid more than Rs21000 crore to creators, artists, and media companies across India. He said that in the next two years YouTube will invest over Rs 850 crore to accelerate the growth of Indian creators, artists, and media statistics indicate favourable economics of releasing films on YouTube. But like most statistics, these statistics show the potential but may not represent entire ground realities. Top countries by YouTube audience (Users) India 47.6 cr US 23.8 cr Brazil 14.7 cr United Kingdom 5.6 cr Source: FICCI-EY 2025 Report It is important to understand how fast a producer makes revenues or recovers investments when he or she releases films on YouTube. In this context, knowing the pattern of performance of films released on YouTube in the western markets will be helpful. This will give an idea about how the journey of releasing films on YouTube after their theatrical run could transpire in India. Adi Tiwary, creative director and partner, Stuart Entertainment, an Australia-based film distributor shares an interesting perspective about the situation in the international market. He says, "Releasing a film on YouTube is similar to nurturing a start-up. Producers have to create a constant buzz around the film to attract users' attention. Also, a film works on YouTube when its cast is in the news." He adds, "Then, there are marketing costs attached, apart from time." He explains that in the overseas markets YouTube is an integral part of entire marketing and promotional activities of films even before theatrical release. Producers invest in influencers and constantly upload videos on YouTube to maintain buzz around their films. Largely, YouTube provides four ways of earning revenues for producers. These are: advertisements-supported service, subscription-based, shorts monetisation and transaction-based service, which includes watching films on rent (a film stays in your account for two days) or buying films (a film stays in your account as long as it is there on YouTube). According to overseas distributors, even after considering this revenue model, it has been observed that a film on the average takes at least a year to make reasonably good money on YouTube. This is because YouTube is largely an ocean of individual creators in which users consume extremely diverse range of content in diverse formats (short-form and long-form). According to the recent analysis of Ampere Media, a firm known for research on global entertainment business, film and television content is the fifth most watched content on YouTube, globally. This shows that film content is not the most preferred content for YouTube audience. Unlike YouTube, a streaming platform is only about film content (feature-length and long format). It needs to create and maintain library of films. Over the years, streamers have succeeded in positioning them as a reliable space for filmed entertainment with increasingly improving visual interface the fact that it takes at least a year (on the average) for a film to generate reasonably good revenues for producers, it seems that the YouTube model is favourable for those producers who can wait for a long period for revenues. Suniel Wadhwa, a veteran distributor, co-founder and director of Karmic Films, who agrees with this line of thought, explains, "I think the YouTube model works in favour of cash-rich producers who have high holding capacity (capacity to wait) and films which have well-established or A-list cast. Only this combined force can find it relatively easier to make money from releasing films on YouTube in India." YouTube Business Model Revenue Model Type Revenue Split Key Feature AVOD Advertisements 55%: Creator45%: YouTube Free content with advertisements SVOD Subscription A portion of subscription fees goes to creators based on how much time users spent on their content YouTube Premium and Music TVOD Transactional 70%: creators30%: YouTube Rent or Buy Movies Pay per View Direct Monetisation Tips/Membership Varies (after fees) Super Chat, Memberships, Shopping tools Shorts Monetisation Advertisements/Fund 45%: Creators Monetisation of short form videos In India also, producers who have first-hand experience of releasing films on YouTube share that monetising films on YouTube is a steady but long-term affair. They point out that the YouTube model works in favour of producers who have high holding capacity. Shiladitya Bora, producer and founder of Platoon One Films, a Mumbai-based film production company, who released his film Aye Zindagi (2022) on YouTube, shares, "YouTube is a great option to monetise a film. My experience has been quite effective. A few years ago, I sold a regional indie film to a streaming platform. In hindsight, retaining the Intellectual Property (IP) and licensing only the Subscription Video on Demand (SVOD) rights for a limited window might have been a more strategic move. I have released other films of mine on YouTube. These films have garnered good traction and reasonably good revenues. But it takes time. So, I think the YouTube Model works largely for producers who have holding capacity." Global Top Content Types Watched on YouTube (%) Subject % of YouTube Monthly Active Users Music/Music Videos 56 Comedy 39 How to's 29 Documentaries 24 Films or TV shows 23 Either 38 Vlogs 21 Travel 20 Gaming 19 Reviews 17 TV/Film Trailers 17 Source: Ampere Media In the backdrop of these facts, a fundamental question emerges: How many Hindi film producers can afford to wait for a long time especially when streamers provide much faster revenue realisation pre-and-post theatrical release? This question is more relevant today when producers are facing challenges in raising money to fund films. Therefore, considering the present dynamics of the industry it seems that YouTube may not emerge as an alternative to streamers. It is more likely to be a co-existing platform providing a wide range of content in which film content will be one of its offerings. (You can now subscribe to our Economic Times WhatsApp channel)
Time of India
2 days ago
- Entertainment
- Time of India
Will YouTube be an alternative to streamers or just a co-existing platform?
In the past few weeks, a new shift has taken place in discussions related to film business in the Hindi film industry. Thanks to the speculation about superstar Aamir Khan bypassing streaming platforms and releasing his new film Sitaare Zameen Par on YouTube after releasing it in theatres, two critical questions have emerged in the industry. One is: Can producers afford to bypass streaming platforms or streamers in the current ecosystem and look for other avenues for releasing films? And another is: Can releasing films on YouTube after their theatrical release emerge as a financially viable option for producers? Answers to these questions will determine whether there will be a new shift in the industry in terms of distribution of films. Let us explore the practical aspects contained in the answers to these questions: Streamers—Integral To The Ecosystem by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gelsenkirchen: Gutes Hören sucht 700 Testhörer für Hörgeräte ohne Zuzahlung Gutes Hören Undo After the pandemic, streamers have become immensely significant to the film-making ecosystem. Digital rights have become the most potent and certain source of revenues for Hindi films producers. Post the pandemic, producers have been selling their films' digital rights to streaming platforms even before starting production of their films. In this way, producers have been raising reasonably good money required to start a film. Alternatively, after theatrical release of their films, producers have been earning or recovering a portion of their investments by selling their films' digital rights to streamers. So, the relevance of streamers in the entire business of filmmaking is not only in providing money to producers to fund films but also in helping producers in recovering a portion of their investments post theatrical after they have funded their films from other sources. According to FICCI-EY's 2025 Media & Entertainment report, in 2024, 1823 films were released in India. Interestingly, 500 of these 1823 films were released on streamers. In 2023, 1796 were released in India. In these, 416 films were released on streamers. So, between 2023 and 2024, there has been 20% growth of films releasing on streamers. Importantly, in 2024, close to 28% of films made across languages in India were released on streamers. This shows the increasing importance of streamers not only as an effective funding entity but also as a viable channel for distribution of films after their theatrical release. Live Events Number of Films Released on Streaming Platforms Year Post theatrical Release Directly on Streaming platforms 2023 359 57 2024 440 60 Source: FICCI-EY 2025 Report Tellingly, in the past three years, revenues generated from the sale of digital rights of films to streamers have become the second highest source of revenues of films after theatrical revenues. According to the FICCI-EY report, revenues from the sale of digital rights of films to streaming platforms are estimated to grow to Rs3600 crore in 2027 from Rs3100 crore in 2024. This is higher than the revenues from the sale of overseas and television rights of films in the same period. This shows how streamers have become a key source of revenues for producers. Revenues from Each Segment of Film Business (Rs crore) Segment 2024 2025E 2027E Domestic Theatricals 11400 11900 129 Overseas theatricals 2000 2100 2300 Digital/ Streaming rights 3100 3300 3600 Broadcast /Satellite/Television rights 1300 1400 1400 In-cinema advertising 900 900 1000 Total 18700 19600 21300 Source: FICCI-EY 2025 Report According to Anushree Rauta, head of media and entertainment practice, ANM Global, a leading law firm in media and entertainment sector in India, apart from theatrical revenues, on the average, producers recover around 50–55% of their production costs by selling digital rights of their films to streaming platforms. She shares, "Revenues from the sale of satellite rights contribute approximately 10% to total revenues of films. Revenues from the sale of music rights are about 10–20% depending on the talent engaged." A big advantage which distinguishes streamers from other platforms (on which films can be released) is the relatively lower time in which a producer earns or obtains revenues for his or her films. In the entertainment industry, which is capital-intensive in nature, this advantage has made streamers almost a lifeline especially for films which have A-list or well-known cast and crew. Given these facts, in today's ecosystem, it seems that producers cannot afford to bypass streamers. According to Anushree Rauta, head of media and entertainment practice, ANM Global, a leading law firm in the media and entertainment sector in India, apart from theatrical revenues, on the average, producers recover around 50–55% of their production costs by selling digital rights of their films to streaming platforms. She shares, "Revenues from the sale of satellite rights contribute approximately 10% to total revenues of films. Revenues from the sale of music rights are about 10–20% depending on the talent engaged." A big advantage which distinguishes streamers from other platforms (on which films can be released) is the relatively lower time in which a producer earns or obtains revenues for his or her films. In the entertainment industry, which is capital-intensive in nature, this advantage has made streamers almost a lifeline especially for films which have A-list or well-known cast and crew. Given these facts, in today's ecosystem, it seems that producers cannot afford to bypass streamers. The Lure of the YouTube Model Can releasing films on YouTube after their theatrical run emerge as a financially viable option for Hindi film producers? There are favourable statistics about YouTube. According to the FICCI-EY report, YouTube dominates online video consumption in India. 92% of all online video consumption happens on YouTube. The remaining 8% of online video consumption happens on platforms which provide advertisement-supported, free and subscription videos. YouTube reaches 47.6 crore audiences in India. This is two times the audience base of the US. The FICCI-EY report foresees that YouTube is likely to reach 80 crore audience base in India by 2029 thanks to the improvement in digital infrastructure and changing consumer habits. According to , a leading marketing blog and training site for Search Engine Optimisation (SEO) strategies, YouTube has 249 crore monthly active users. In 2024, YouTube shared that its premium video services YouTube Premium and premium music services YouTube Music have surpassed 10 crore subscribers, globally. Interestingly, in the recently concluded media and entertainment event Waves Summit in Mumbai, Neal Mohan, CEO, YouTube, said that in the past three years alone, YouTube has paid more than Rs21000 crore to creators, artists, and media companies across India. He said that in the next two years YouTube will invest over Rs 850 crore to accelerate the growth of Indian creators, artists, and media companies. These statistics indicate favourable economics of releasing films on YouTube. But like most statistics, these statistics show the potential but may not represent entire ground realities. Top countries by YouTube audience (Users) India 47.6 cr US 23.8 cr Brazil 14.7 cr United Kingdom 5.6 cr Source: FICCI-EY 2025 Report It is important to understand how fast a producer makes revenues or recovers investments when he or she releases films on YouTube. In this context, knowing the pattern of performance of films released on YouTube in the western markets will be helpful. This will give an idea about how the journey of releasing films on YouTube after their theatrical run could transpire in India. Adi Tiwary, creative director and partner, Stuart Entertainment, an Australia-based film distributor shares an interesting perspective about the situation in the international market. He says, "Releasing a film on YouTube is similar to nurturing a start-up. Producers have to create a constant buzz around the film to attract users' attention. Also, a film works on YouTube when its cast is in the news." He adds, "Then, there are marketing costs attached, apart from time." He explains that in the overseas markets YouTube is an integral part of entire marketing and promotional activities of films even before theatrical release. Producers invest in influencers and constantly upload videos on YouTube to maintain buzz around their films. Largely, YouTube provides four ways of earning revenues for producers. These are: advertisements-supported service, subscription-based, shorts monetisation and transaction-based service, which includes watching films on rent (a film stays in your account for two days) or buying films (a film stays in your account as long as it is there on YouTube). According to overseas distributors, even after considering this revenue model, it has been observed that a film on the average takes at least a year to make reasonably good money on YouTube. This is because YouTube is largely an ocean of individual creators in which users consume extremely diverse range of content in diverse formats (short-form and long-form). According to the recent analysis of Ampere Media, a firm known for research on global entertainment business, film and television content is the fifth most watched content on YouTube, globally. This shows that film content is not the most preferred content for YouTube audience. Unlike YouTube, a streaming platform is only about film content (feature-length and long format). It needs to create and maintain library of films. Over the years, streamers have succeeded in positioning them as a reliable space for filmed entertainment with increasingly improving visual interface experience. Given the fact that it takes at least a year (on the average) for a film to generate reasonably good revenues for producers, it seems that the YouTube model is favourable for those producers who can wait for a long period for revenues. Suniel Wadhwa, a veteran distributor, co-founder and director of Karmic Films, who agrees with this line of thought, explains, "I think the YouTube model works in favour of cash-rich producers who have high holding capacity (capacity to wait) and films which have well-established or A-list cast. Only this combined force can find it relatively easier to make money from releasing films on YouTube in India." YouTube Business Model Revenue Model Type Revenue Split Key Feature AVOD Advertisements 55%: Creator 45%: YouTube Free content with advertisements SVOD Subscription A portion of subscription fees goes to creators based on how much time users spent on their content YouTube Premium and Music TVOD Transactional 70%: creators 30%: YouTube Rent or Buy Movies Pay per View Direct Monetisation Tips/Membership Varies (after fees) Super Chat, Memberships, Shopping tools Shorts Monetisation Advertisements/Fund 45%: Creators Monetisation of short form videos In India also, producers who have first-hand experience of releasing films on YouTube share that monetising films on YouTube is a steady but long-term affair. They point out that the YouTube model works in favour of producers who have high holding capacity. Shiladitya Bora, producer and founder of Platoon One Films, a Mumbai-based film production company, who released his film Aye Zindagi (2022) on YouTube, shares, "YouTube is a great option to monetise a film. My experience has been quite effective. A few years ago, I sold a regional indie film to a streaming platform. In hindsight, retaining the Intellectual Property (IP) and licensing only the Subscription Video on Demand (SVOD) rights for a limited window might have been a more strategic move. I have released other films of mine on YouTube. These films have garnered good traction and reasonably good revenues. But it takes time. So, I think the YouTube Model works largely for producers who have holding capacity." Global Top Content Types Watched on YouTube (%) Subject % of YouTube Monthly Active Users Music/Music Videos 56 Comedy 39 How to's 29 Documentaries 24 Films or TV shows 23 Either 38 Vlogs 21 Travel 20 Gaming 19 Reviews 17 TV/Film Trailers 17 Source: Ampere Media In the backdrop of these facts, a fundamental question emerges: How many Hindi film producers can afford to wait for a long time especially when streamers provide much faster revenue realisation pre-and-post theatrical release? This question is more relevant today when producers are facing challenges in raising money to fund films. Therefore, considering the present dynamics of the industry it seems that YouTube may not emerge as an alternative to streamers. It is more likely to be a co-existing platform providing a wide range of content in which film content will be one of its offerings.
Yahoo
08-04-2025
- Entertainment
- Yahoo
Allu Arjun Confirms Untitled Feature With Director Atlee, Sun Pictures (EXCLUSIVE)
Following the monumental success of 'Pushpa 2,' which amassed over $210 million globally , pan-India star Allu Arjun is officially joining forces with director Atlee and marquee production house Sun Pictures for a new feature that promises to be a high-concept, VFX-driven spectacle. Backed by Sun Group's Kalanithi Maran, the untitled film is slated to go into production this month, it was revealed on the occasion of Arjun's birthday on Tuesday. More from Variety Digital Surges Ahead as India's Media and Entertainment Sector Hits $29 Billion, Annual FICCI-EY Report Reveals 'Pushpa 2,' 'Kalki 2898 AD' Lead as Indian Box Office Shrinks 3% to $1.37 Billion in 2024 Indian Entertainment Sees Theatrical Polarization, Streaming Reset in 2024, Says Producer Siddharth Roy Kapur in Industry Analysis (EXCLUSIVE) Arjun and Atlee were recently in Los Angeles, where the duo met with leading special effects companies to map out the film's ambitious visual palette. The project, still under wraps in terms of title and casting, is being positioned as an original big-screen event with mass appeal and cutting-edge visuals, aimed at global theatrical audiences. 'This is the film I have always dreamed of making and it's taken years of quiet work to shape the screenplay into something I truly believe in,' said Atlee in a statement. 'To now bring it to life with the Icon Star Allu Arjun Sir, under the visionary leadership of Kalanithi Maran Sir at Sun Pictures, is nothing short of a dream come true. The film is mass at its core and magical in its storytelling, crafted to move and entertain audiences worldwide.' Arjun is coming off a record-breaking run with 'Pushpa 2,' which solidified his status as a pan-Indian phenomenon. The film grossed some $210 million worldwide, making it the third highest Indian grosser of all time. Known for blending star power with performance depth, Arjun has consistently elevated commercial cinema with his charismatic screen presence and choice of bold, genre-defining roles. This new film marks his first collaboration with Atlee and Sun Pictures, adding a new chapter to an already dynamic career. Atlee, known for helming Tamil-language blockbusters like 'Theri,' 'Mersal,' and 'Bigil,' as well as the 2023 Shah Rukh Khan-starrer 'Jawan,' has built a reputation for marrying emotion-heavy storytelling with commercial flair. 'Jawan' concluded its theatrical run with a worldwide total of over approximately $135 million, making it the sixth highest Indian grosser of all time. His work consistently delivers strong box office returns while expanding the grammar of mainstream Indian cinema. This new venture marks Atlee's next step into pan-Indian filmmaking, further amplifying his reach across markets. Best of Variety New Movies Out Now in Theaters: What to See This Week What's Coming to Disney+ in April 2025 The Best Celebrity Memoirs to Read This Year: From Chelsea Handler to Anthony Hopkins
Zawya
14-03-2025
- Business
- Zawya
Indian space economy to reach $44bln by 2033: Report
New Delhi: Indian space economy is aiming to reach $44 billion by 2033 from $8.4 billion in 2022, said a FICCI-EY report on 'Unlocking India's Space Economy - Pathways to Growth, Innovation and Global Leadership', released at Bharat Space Conclave 2025', organised by FICCI. According to the report, the global space economy is projected to exceed USD 1.8 trillion by 2035, with commercial satellite services, deep-space exploration, and space-based infrastructure driving expansion. The report further states that India has set an ambitious target to grow its space economy from USD 8.4 billion in 2022 to USD 44 billion by 2033, aiming to capture 8 per cent of the global market. This growth is being fuelled by policy reforms, private sector participation, and increased international collaboration, supported by the Indian Space Policy 2023 and institutions such as IN-SPACe and NSIL. FICCI-EY report notes that a significant shift is underway, with India's space sector evolving from a government-led model to a commercially driven, innovation-led ecosystem. Satellite communication (SATCOM), projected to reach USD 14.8 billion by 2033, will play a critical role in expanding digital connectivity, particularly in rural and underserved regions. By leveraging LEO and MEO satellite constellations, India can accelerate broadband penetration, enhance financial inclusion, and strengthen digital infrastructure, supporting flagship initiatives such as Digital India and BharatNet. The increasing use of Earth Observation (EO) and remote sensing, estimated to contribute $8 billion by 2033, is already transforming agriculture, disaster management, and climate resilience, highlights FICCI-EY Report. Addressing the 'FICCI Bharat Space Conclave 2025', Dr Pawan Goenka, Chairman, IN-SPACe said that for the Indian space sector to grow we need capacity, capability, skilling, infrastructure, international partnership, funding and demand. "We will have to work for it and this will happen. These will not become a constraint for us to reach the $44 billion target by 2033," he emphasized. Earth Observation Preparatory Program (EOPP), Dr Goenka said that we have already shortlisted 6 companies and by mid-April the final name will be announced. "The EOPP project is going to be orbit changing project for the Indian private space sector. It will bring in a dozen of private satellites which will provide data which is not available in the country today from Indian sources. We are not replicating what ISRO is doing but we are depending on outside data to get the data," he added. Dr Goenka while highlighting the potential in satellite communications (SATCOM), said that the private sector is not present at all in this segment in terms of having their own satellites and we depend completely on NSIL (New Space India Limited), ISRO and outside sources. "Now we have the first company who has been given the authorisation to use a frequency that ISRO has unused to set us launch SATCOM. This is just the first of many that will happen, and we will keep working on finding more it you (industry) frequencies and make it available to private sector," he added. Dr AS Kiran Kumar, Member, Space Commission and Former Chairman, ISRO said that space is the frontier today which can provide significant advantages from uses to strategic applications including space tourism, adventure space, space habitation. "Soon we will see the launch of NASA-ISRO Synthetic Aperture Radar satellite," he added. By 2047, if India has to reach the topmost place, it will only be possible when space economy which is a significant component, India must participate with larger participants, noted Dr Kumar. Laxmesh BH, Chair, FICCI Space and Geospatial Applications Committee and Vice President and Head Aerospace Systems Business, L&T Precision Engineering and Systems, L&T Ltd said that led by ISRO, India's space journey is a testament to our perseverance, innovation, and global leadership. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
13-03-2025
- Business
- Times of Oman
Indian space economy to reach $44bn by 2033: Report
New Delhi: Indian space economy is aiming to reach $44 billion by 2033 from $8.4 billion in 2022, said a FICCI-EY report on 'Unlocking India's Space Economy - Pathways to Growth, Innovation and Global Leadership', released at Bharat Space Conclave 2025', organised by FICCI. According to the report, the global space economy is projected to exceed USD 1.8 trillion by 2035, with commercial satellite services, deep-space exploration, and space-based infrastructure driving expansion. The report further states that India has set an ambitious target to grow its space economy from USD 8.4 billion in 2022 to USD 44 billion by 2033, aiming to capture 8 per cent of the global market. This growth is being fuelled by policy reforms, private sector participation, and increased international collaboration, supported by the Indian Space Policy 2023 and institutions such as IN-SPACe and NSIL. FICCI-EY report notes that a significant shift is underway, with India's space sector evolving from a government-led model to a commercially driven, innovation-led ecosystem. Satellite communication (SATCOM), projected to reach USD 14.8 billion by 2033, will play a critical role in expanding digital connectivity, particularly in rural and underserved regions. By leveraging LEO and MEO satellite constellations, India can accelerate broadband penetration, enhance financial inclusion, and strengthen digital infrastructure, supporting flagship initiatives such as Digital India and BharatNet. The increasing use of Earth Observation (EO) and remote sensing, estimated to contribute $8 billion by 2033, is already transforming agriculture, disaster management, and climate resilience, highlights FICCI-EY Report. Addressing the 'FICCI Bharat Space Conclave 2025', Dr Pawan Goenka, Chairman, IN-SPACe said that for the Indian space sector to grow we need capacity, capability, skilling, infrastructure, international partnership, funding and demand. "We will have to work for it and this will happen. These will not become a constraint for us to reach the $44 billion target by 2033," he emphasized. Earth Observation Preparatory Program (EOPP), Dr Goenka said that we have already shortlisted 6 companies and by mid-April the final name will be announced. "The EOPP project is going to be orbit changing project for the Indian private space sector. It will bring in a dozen of private satellites which will provide data which is not available in the country today from Indian sources. We are not replicating what ISRO is doing but we are depending on outside data to get the data," he added. Dr Goenka while highlighting the potential in satellite communications (SATCOM), said that the private sector is not present at all in this segment in terms of having their own satellites and we depend completely on NSIL (New Space India Limited), ISRO and outside sources. "Now we have the first company who has been given the authorisation to use a frequency that ISRO has unused to set us launch SATCOM. This is just the first of many that will happen, and we will keep working on finding more it you (industry) frequencies and make it available to private sector," he added. Dr AS Kiran Kumar, Member, Space Commission and Former Chairman, ISRO said that space is the frontier today which can provide significant advantages from uses to strategic applications including space tourism, adventure space, space habitation. "Soon we will see the launch of NASA-ISRO Synthetic Aperture Radar satellite," he added. By 2047, if India has to reach the topmost place, it will only be possible when space economy which is a significant component, India must participate with larger participants, noted Dr Kumar. Laxmesh BH, Chair, FICCI Space and Geospatial Applications Committee and Vice President and Head Aerospace Systems Business, L&T Precision Engineering and Systems, L&T Ltd said that led by ISRO, India's space journey is a testament to our perseverance, innovation, and global leadership.
