Prime Minister Narendra Modi, speaking at the Utkarsh Odisha - Make in Odisha Conclave 2025, emphasized the immense potential of India's concert economy, highlighting successful events like Coldplay’s recent concerts in Mumbai and Ahmedabad.
He pointed to the growing demand for live events, particularly concerts, in India due to the country’s rich cultural heritage, large youth population, and the increasing appetite for such performances. The success of the Coldplay concerts, which sold out in both cities, showcased the tremendous scope for live concerts in India.
"In a country with such a rich heritage in music, dance, and storytelling, with such a large pool of youth and a massive consumer base for concerts, there are vast opportunities for the concert economy. In the past decade, both the trend and demand for live events have grown. You must have seen the incredible images from the Coldplay concerts in Mumbai and Ahmedabad in recent days. This is proof of how much scope live concerts have in India," Modi said.
He further noted that top international artists are increasingly drawn to India. Modi called on both the state and private sectors to invest in the infrastructure needed to support the growing concert economy, which can generate jobs and boost tourism. He also shared that India will host the first-ever World Audio-Visual Summit next month, a move to establish India's creative industry on the global stage.
"The concert economy boosts tourism and creates a large number of jobs. I urge both the state and private sectors to focus on the necessary infrastructure for the concert economy. Next month, India will host the first-ever World Audio-Visual Summit, a major event that will give the country's creative power a new identity globally. The revenue generated from such events in the states also contributes to advancing the economy," he added.
Additionally, PM Modi spoke about the ongoing development of specialized infrastructure across India, which is rapidly making the country an attractive investment destination. He mentioned projects like the dedicated freight corridor connecting the East and West coasts and industrial cities being built with plug-and-play facilities.
In Odisha, major investments are being made in the railway and highway network, including the development of new ports to boost the state's blue economy.
"Thousands of crores of rupees are being invested in railway and highway network projects here. To reduce the logistics cost for industries in Odisha, the government is connecting the state's ports with industrial clusters. Alongside the existing ports, new ports are being developed, which means Odisha is set to join the country's top states in terms of blue economy," PM Modi said.
Further, PM Modi stressed the importance of creating a strong domestic supply and value chain, which could shield India from global disruptions. He called for increased support for MSMEs and start-ups, and highlighted the role of research and innovation in industrial growth.
"We need to create a strong supply and value chain within India, one that is minimally affected by global ups and downs. This is a major responsibility for both the government and the industry. Therefore, no matter which industry you belong to, it is important to support the related MSMEs, help them grow, and provide handholding. You should also support as many young start-ups as possible," he said.
The Prime Minister also emphasized that no industry can progress without embracing new technologies. To facilitate this, the government is focusing on building a vibrant research ecosystem across the country, including a special fund for research and innovation, and packages for internships and skill development.
"The stronger and better India's research ecosystem is, the more our industries will benefit directly," he concluded.
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