India to become third-largest M&E market by 2028: Kevin Vaz

Mumbai: India is on track to become the third-largest media and entertainment market globally by 2028, driven by massive content production and consumption, said Kevin Vaz, Chair FICCI M&E Committee and CEO, Entertainment, Jiostar, during the FICCI Frames Curtain Raiser, held in Mumbai on March 27, 2025.

The event also marked the unveiling of the FICCI EY M&E Report 2025.

Reflecting on 25 years of FICCI’s dedicated efforts in tracking the M&E sector, Vaz emphasised India’s unique position in the global media ecosystem. “What sets India apart is not just our growth, but the way we grow. We are not an ‘OR’ market but an ‘AND’ market—television and digital media are thriving together,” he remarked.

Vaz highlighted how television households are expected to grow from 190 million in 2024 to 214 million by 2026, even as digital platforms continue to soar. “OTT is set to become a major force in digital entertainment, while television remains the bedrock of our industry, commanding over 30% of the market,” he added.

Celebrating India’s global achievements, Vaz pointed to the country’s growing influence in media and entertainment. “From global recognition at Cannes and the Oscars to our rise as a VFX powerhouse, India is firmly on the world stage,” he noted.