Significance of the Creator Economy for India

 $1 Billion Boost for the Creator Economy through Public-Private Partnership

The central government has announced a $1 billion fund aimed at supporting digital content creators. This funding will help enhance creators' skills, upgrade their production capabilities, and enable expansion into global markets. Additionally, funds will be allocated to establish the Indian Institute of Creative Technology (IICT), which will promote expertise in creative and digital technologies.

What is the Creator Economy?

The creator economy is a rapidly growing sector that includes artists, educators, gaming streamers, video creators, podcasters, and others who monetize their creative content on digital platforms such as YouTube and Instagram.

Globally, the creator economy is expected to grow significantly, with its value projected to rise from $250 billion in 2023 to $480 billion by 2027. It is a subset of the larger Orange Economy (or Creative Economy), which also encompasses industries like advertising, architecture, arts, music, and movie production.

Significance of the Creator Economy for India:

• Contribution to GDP: For example, YouTube’s ecosystem alone contributed over ₹10,000 crore to India’s GDP in 2022. India's overall orange economy was valued at $30 billion in 2024, accounting for nearly 2.5% of the country’s GDP.

• Employment Generation: The creator economy provides livelihoods to millions of creators, influencers, and knowledge professionals through brand collaborations, sponsored content, and merchandise sales.

• Soft Power: India’s content in areas like music, dance, and education has gained global popularity, enhancing the country's soft power and generating foreign revenue.

This investment and focus on the creator economy highlight India’s growing role in the global creative landscape, paving the way for further economic growth and cultural influence.

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