Mumbai: The Media and Entertainment (M&E) sector is poised for substantial growth even as it navigates major shifts driven by Artificial Intelligence (AI), Union Information and Broadcasting Secretary Sanjay Jaju said.

Speaking at the inaugural session of the 12th CII Big Picture Summit, themed “The AI Era - Bridging Creativity and Commerce”, Jaju said the industry must adapt quickly to emerging technologies to retain and expand its global market share. He also released CII's White Paper on priority policy reforms for strengthening India's creative economy.

Jaju described the WAVES Summit as a “movement” that continuously fuels innovation. Entertainment, he said, is central to societal well-being and economic progress. “The true value of this sector goes beyond numbers. It connects people, fosters harmony, and links nations,” he noted.

India's creative economy currently supports over 10 million livelihoods and contributes nearly Rs 3 lakh crore to the GDP, he said. Despite its vast storytelling heritage, India commands only 2 per cent of the global M&E market. “Our challenge is to convert our cultural strengths into creative products recognised worldwide,” he added.

Warning that AI is reshaping content creation and consumption at a rapid pace, Jaju said commercial success will determine the industry's long-term resilience. “If we do not embrace new technologies, our global share will shrink,” he cautioned.

He reaffirmed the government's role as an enabler, citing initiatives to address skill gaps, including the soon-to-be-established Indian Institute of Creative Technologies (IICT) in Mumbai. Industry leaders from CII, Sony Pictures Networks India, Jetsynthesys and YouTube India also participated in the event, which saw the inauguration of the CII M&E Investors' Meet and WAVES Bazaar.