Time for a reality check!
The world's largest film industry and its second-largest TV market is a sad place to do business in.
This is because despite these bombastic numbers, the industry's ability to monetise the potential of its 740 million TV viewers or 350 million newspaper readers is limited.
That explains why at 0.9 per cent of gross domestic product, India's media and entertainment (M&E) spends are among the lowest in the world, way below countries with a fraction of its potential.
For developed countries, the average is two per cent.
For China, it's 1.2 per cent, making it the third-largest M&E market in the world.