While TV continues to dominate the media landscape in India, like much of the rest of the world, it should come as no surprise that digital is making swift inroads. As per industry reports in 2021, India’s digital media market was valued at over Rs 30,000 crore with estimates projecting it to spike to Rs 53,700 crore by 2024.
And with the general elections coming around the same year, the 2023 Union Budget, set to be released this Wednesday, is the last boost to the economic policy of the government, as it aims for a third consecutive term in power, with industry watchers paying close attention to plans for emerging tech in the digital space.
Keerthi R Kumar, Business Head-South, FoxyMoron, notes that the Indian government has already taken several measures to promote digital media and technology, such as the introduction of the Digital Media Ethics Code Rules 2021, and the Digital India initiative.
He says, “To further promote digital media and technology, especially blockchain and its applications, in 2023, the…