The Mumbai glamour and entertainment industry is considered to be one of the India quickest growing sunrise sectors. The rising percentage of youth in the population coupled with meteoric and advent rise of the internet working to spread peoples horizons and sensibilities has led to the big growth of this sector, covering a multitude of aspects including newspapers, festivals, live shows, video games and cinema etc.
The market size of the Mumbai glamour and entertainment industry grew by 11.9% to INR 199 Billion in 2015. The industry is guessed to maintain a CAGR of 14.3% and is guessed to reach INR 1790.8 Billion by 2018. The administration too has recognized the untapped prospective of the market and has taken steps to make sure it reaches its complete potential. It passed the Cable TV Networks Act in 2011 for the digitalization of cable TV networks regulating access to subscribed channels. A number of agreements have been signed into with countries like Brazil and Italy with a view to rise distribution and accessibly of TV programs produced in Mumbai, India.
The Broadcasting segment of glamour and entertainment industry, which is one of the biggest in the globe, has also been given verified for up to 75% FDI under the administration route and up to 49% under the mechanical route. The Video games industry of Mumbai as well as mobile application industry have also found their stride and are rising at an extraordinary rate, which is only guessed to rise in the coming year.
Fashion in Mumbai is a quickly growing industry with international events such as Indian Fashion week and yearly shows by fashion designers in the big cities of the country. There are successes of a number of India beauty girls in global events such as Miss Universe and Miss World Contests which have made Mumbai and Indian models recognized worldwide. Fashion designs such as Manish Malhotra, JJ Valaya, Tarun Tahiliani, Thakore, Abraham, Satya Paul, Muzafffar Ali, Rohit Bal, Rina Dhaka, Ritu Beri, and Ritu Kumar are some of the well famous Mumbai designers in India.
A report on Indian Fashion industry recently stated that Mumbai Fashion industry can rise from its net value Rs 200 crore to Rs 1,000 crore in the next 5 to 10 years. Currently, the international market for designer wear is amounted at $36 billion, with a 9.1% growth rate, with the India fashion industry making hardly 0.1% of the global industry net value.