Siddharth Roy Kapur, founder of Roy Kapur Films and co-chair of FICCI Media and Entertainment committee, gave a speech at the prestigious 19th chapter of FRAMES 2018 inauguration ceremony on Sunday that has got everyone talking! Sharing the dais with renowned dignitaries like Union Cabinet Minister of Textiles and Information & Broadcasting – Smriti Irani and the filmmaker Karan Johar,he highlighted the much needed government interface, comparison to China market and how he as an eminent producer and president of the Producers Guild is really leading the way with the much-required reforms in our industry.
Siddharth kickstarted the speech with a reference of looking at the Media and Entertainment industry with ‘A glass half full and glass half empty’ lens. Referring the capacity of our industry and huge cable and satellite base with ‘glass half full’ and that’s less than 1% GDP of the country and our ARPU being the lowest in the world with ‘glass half empty’, he added ‘we are the largest producers of movies in the world that’s one statistic we like to use very often, but at the same time, our entire industry is valued at less than the worldwide box office of Avatar.’ Elaborating further he spoke about how the other industries like tourism, hotel industry, fashion etc. have benefitted from the entertainment sector in recent years.