Now Reading: India’s experience economy to hit $59.2 billion by 2030, says EEMA
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India’s experience economy to hit $59.2 billion by 2030, says EEMA
India’s experience economy to hit $59.2 billion by 2030, says EEMA
India's events and entertainment industry has grown to $32.2 billion and is projected to reach $59.2 billion by 2030, according to Samit Garg, president of the Events and Entertainment Management Association (EEMA).…
The Story in Brief
India's events and entertainment industry has grown to $32.2 billion and is projected to reach $59.2 billion by 2030, according to Samit Garg, president of the Events and Entertainment Management Association (EEMA). Speaking at the EEMAGINE conclave in Chennai, Garg said the sector has recorded 16-18% year-on-year growth over five years, with wedding, sports, and ticketed segments growing even faster, at 18-26%. He called Tamil Nadu the top state by GDP contribution from this sector, adding that live experiences now drive GDP, employment, and tourism far beyond their old status as an adjunct to hospitality.
The claims come from a new EEMA report prepared with KPMG and Mastercard that surveyed 108 events with over 18 lakh attendees. The report urges a coordinated central and state action agenda including single-window clearances for events, formal social protection for contract and gig workers, investment in tier-2 and tier-3 infrastructure, and national guidance on crowd safety and cancellation risks. It notes that about 80% of organisers still rate the ease of obtaining event-related permissions as difficult.
The Indian Opinion
The rosy projections by the industry body come with a caveat: 80% of organisers still find getting event permits difficult. The narrative that events are now a serious economic driver is undercut by the same red tape the report asks states to fix. The real test will be whether Tamil Nadu or another state actually delivers a single-window clearance system and extends social security to the lakhs of gig workers who make these spectacles possible.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
