Media and ent sector records CAGR of 11.6%: I&B ministry

The Indian media and entertainment sector has recorded compound annual growth rate (CAGR) of 11.6 per cent, an officer of Information and Broadcasting Ministry said on Friday.

Addressing Confederation of Indian Industry's (CII) Annual Session 2019 here, Ministry Secretary Amit Khare said there were 197 million households in the country which have television connections either through DTH or cable operators.

He said 80 million to 85 million households had DTH connections and the rest had connections through cable operators.

Khare said the country produces about 2,000 films every year.

"If you take the sector as a whole, the media and entertainment sector has recorded compound annual growth rate of around 11.6 per cent. It offers around 1.6 million jobs," the secretary told the gathering.

Union Housing and Urban Affairs Secretary Hardeep Singh Puri said there was a need to accelerate the growth rate beyond 7 per cent for India to become a USD-10 trillion economy in the future and one of the top three countries in world.

Mishra said cities "are the engines of economic growth" and the performance of cities was crucial for sustainable development.