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BCG-CII Report
There is a need to fine-tune the PLI scheme for MSME participation and develop the raw material ecosystem in order to scale up the country's medtech sector to account for 10-12 per cent of the global market, according to a CII-BCG report. Valued at around USD 16 billion, India's medical technology (medtech) industry currently accounts for only around 2 per cent of the USD 680 billion global market. With the government's Viksit Bharat 2047 vision, the sector has been identified as a strategic pillar in the 'Make in India' agenda, with aspirations to reduce import dependency to below 50 per cent and increase India's share of the global market to 10-12 per cent. The CII-BCG report has outlined nine strategic initiatives to drive the next phase of growth. The report stated that rationalising import duties and duty exemptions for critical raw materials and attracting MNC manufacturing and R&D hubs to India is crucial for sector growth. Besides, there is a need to unlock the potential .
The India Media & Entertainment industry is estimated to be valued between USD 2729 billion in 2022 and is poised to grow to USD 5565 billion by 2030, said a report. The industry, which had witnessed some setbacks during the pandemic, is back to its pre-Covid growth story, said a joint report by the industry body CII and BCG. "With the industry witnessing strong growth tailwinds, it is poised to grow to USD 5565 billion by 2030 with a potential to reach USD 6570 billion, driven by growth in OTT and gaming," said the report titled "Shaping the future Of Indian M&E". The report highlights the role of some media segments, particularly OTT platforms and said the sector has witnessed rapid changes fueled by "accelerated technological progress and evolving consumer behaviours". According to the report, the digital video & gaming segment is leading the "boom" with an over 40 per cent of total media consumption in 2022 backed by growth in internet and smartphone penetration. Now ..