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Wednesday, 20 February, 2002, 16:09 GMT
Indian entertainment 'about to boom'
Shahrukh Khan as warrior king Asoka
Director Santosh Sivan's Asoka: A massive hit in 2001
Turnover from India's entertainment industry stands to quadruple by 2007, a trade conference has heard.

Entertainment could be worth around 500bn rupees (7.2bn) five years from now, the Confederation of Indian Industry says.

"The industry has been growing at the rate of 30% every year - one of the fastest in the country, and even globally," the confederation's president, Sanjiv Goenka, said.

He urged the government to award the entertainment industry incentives similar to those offered to the information technology sector.

Kareena Kapoor in Bollywood: Popular Indian Cinema
Yaaden: One of last year's biggest Indian film releases

Mr Goenka's comments came at a special seminar in Bombay attended by more than 500 delegates from various branches of Indian entertainment.

Amit Khanna, president of the Indian Film Producers Council, also called for tax incentives to be introduced.

"The existing draconian tax structures must be removed if the industry has to grow to its fullest potential," he said.

With government support, Mr Khanna said, the Indian industry could tap around 12% of the global entertainment market over the next few years.

Film star Amitabh Bachchan
Amitabh Bachchan: Called for unity

Also at the seminar was Indian screen legend Amitabh Bachchan, who said the Indian film industry lacked a corporate identity.

Lessons could be learned from the case of the Oscar-nominated film Lagaan, he said.

If the industry could organise collectively in the future, Lagaan's success could be repeated, he added.

Delegates at the event also vowed to fight piracy and committed themselves to enforce strict copyright laws.

See also:

06 Feb 02 | Film
Bollywood goes to LA
30 Oct 01 | Reviews
Epic Asoka loses its way
05 Oct 01 | South Asia
Bollywood suffers from US attacks
23 Feb 99 | South Asia
Bombay evicts 'gangster chief'
04 Nov 98 | South Asia
Bombay gets tough on gangsters
25 Jul 01 | Film
Cash boost for Bollywood
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