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Informist, Monday, May 11, 2026

 

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--MoSPI secy: Hope to measure creative economy much more
--MoSPI secy: Creative economy to be big driver of developed economy goal
--CONTEXT: MoSPI Secretary Saurabh Garg speaking at CII Summit in Delhi
--MoSPI secy: Need more formalisation of creative industry

 

NEW DELHI - The creative economy is a big driver of growth in India and will help it reach the goal of becoming a developed economy by 2047, said Saurabh Garg, secretary in the Ministry of Statistics and Programme Implementation. The statistics ministry will also look to measure the creative economy much more going ahead, Garg said. 

 

"There's been a recognition of the orange economy in the recent Budget. And things like International Day of Yoga and others will continue and the focus remains on additional medicines as well," Garg said at the Confederation of Indian Industry's Annual Business Summit in New Delhi on Monday. "I think all of this would definitely help to give a fillip to the creative part of the economy, which no doubt has been an important driver for Viksit Bharat 2047." 

 

A significant part of the creative industry--which accounts for artists working across entertainment to fashion--is part of the informal economy, Garg said, adding that this industry needs more formalisation. The creative industry in the informal sector also requires more financial support to become more formalised, Garg added.  End

 

Reported by Shubham Rana

Edited by Tanima Banerjee

 

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