The Indian media and entertainment industry is the fifth largest market globally and is growing at the rate of 20% annually, Union Information and Broadcasting minister Anurag Thakur said in Delhi yesterday (7th November) at a press conference ahead of the launch of this year’s edition of the International Film Festival of India (IFFI) in Goa later this month. Thakur also said, Indian films were now reaching the farthest corners of the world. He added that the Indian market was attracting increased interest from international films, a fact underlined by the threefold spike in the number of international films received in the international section of IFFI this year.
Anurag Thakur explained that the festival had instituted a new section — the OTT awards — to acknowledge that section of content production which had grown at a robust 28% annually. The award to celebrate outstanding content on OTT platforms will be Rs. 10 lakh. He added that a total of 32 entries across 10 languages from 15 OTT platforms had been selected for the inaugural best web series award.