PM Modi on Tuesday spoke of the vast opportunities in India’s concert economy, citing the success of recent high profile concerts like Coldplay in Mumbai and Ahmedabad.
At Utkarsh Odisha - Make in Odisha Conclave 2025, PM Modi said we can further boost tourism, create jobs and global identity of India’s creative sector.
He said India has rich cultural heritage, large youth population and growing demand for live events makes it a great destination for concerts. The sold out Coldplay concerts are a proof of the huge scope of 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," PM Modi highlighted.
He said top artists from around the world are coming to India. PM also asked state and private sector to invest in infrastructure for concert economy as it is a revenue and job generator.
He said India will host World Audio-Visual Summit for the first time next month.
"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.
The PM also said that the scale and speed at which special infrastructure is being created in India today is making the country a great investment destination.
"The dedicated freight corridor is connecting the East and West coastlines. Today, dozens of industrial cities are being built across the country, equipped with plug-and-play facilities. Odisha is also fostering similar possibilities. 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.
Also PM Modi said we need to create a strong supply and value chain within India, support MSMEs and start-ups and invest in research and innovation for 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.
PM Modi also said today no industry can grow without new technology and in this context research and innovation is must.
"The government is building a vibrant ecosystem for research across the country, with a special fund created for this purpose. A special package has been announced for internships and skill development. The stronger and better India's research ecosystem is, the more our industries will benefit directly," he said.
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