Report recommends subsidies, export schemes for the music industry
New Delhi, September 3 () The eradication of piracy and the strict application of laws against copyright infringement would help promote the growth of the national music industry, a Deloitte-IMI report suggested.
The report has also recommended music-focused subsidies and export schemes for the recorded music industry.
He said that music subsidies and export schemes, provided by different government departments, can help build a support ecosystem in India that is conducive to the growth of MSMEs, larger companies and new businesses involved in the creation of musical content.
He added that the Cell for the Promotion and Management of IPRs, under the Ministry of Commerce and Industry, is making positive efforts in the implementation of the law at the level of central and state governments, which is helping to address piracy problems .
Campaigns have been launched and intellectual property (IP) cells have been established in all states. Such initiatives must converge in a coherent manner to help eradicate piracy and, therefore, promote the legitimate music industry, says the report Economic impact of the music industry recorded in India, he said.
Deloitte's partner, Jehil Thakkar, said that the effective implementation of intellectual property laws would help give a great boost to the industry.
The industry has enormous potential to create jobs and improve economic activities in the sector, Thakkar said.
Vikram Mehra, president of the Indian Music Industry (IMI) said the industry needs full government support to boost its growth.
The industry has a unique position in India to enter the top 10 music markets. However, we still have a lot of work to do and we need the help of the government for that, he said.
In addition, the report suggested focusing on cities where a strong ecosystem for the sector can be built.
Esplanade in Singapore and the Opera House in Sydney are tourist attractions that are key community commitments and generate millions of income and job creation, he said.
He also asked the government to consider investing in vocational training to foster talent and attract students from across the country.
India needs to develop national universities such as the Royal College of Music in London and the Berklee College of Music that focuses on the performing arts, especially music.
He added that eliminating key challenges such as the piracy epidemic, increasing the value gap, legislative and regulatory impediments and compliance with public actions would help boost the sector.
The increased penetration of smartphones and affordable data charges in India have accompanied an increase in the consumption of pirated content online, he said. Piracy hinders the economic growth of the music industry, leaving artists, music publishers and composers without compensation for their investments in content creation, marketing, promotion and distribution, he said. RR MR MR