The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making high growth strides. Proving its resilience to the world, the Indian M&E industry is on the cusp of a strong phase of growth, backed by rising consumer demand and improving advertising revenues. The industry has been largely driven by increasing digitisation and higher internet usage over the last decade. Internet has almost become a mainstream media for entertainment for most of the people. The Indian media and entertainment industry is expected to reach around Rs 307,000 core crore (US$ 43.93 billion) by 2024. Media and entertainment Industry is set to expand at a CAGR of 13.5 per cent over 2019-24. In FY19, major segments were television, print and films with a market size of Rs 713 billion (US$ 10.22 billion), Rs 333 billion (US$ 4.76 billion) and Rs 185 billion (US$ 2.62 billion), respectively. They are projected to reach Rs 1025 billion (US$ 14.67 billion), Rs 375 billion (US$ 4.76 billion) and Rs 228 billion (US$ 3.26 billion), respectively in FY22. The Foreign Direct Investment (FDI) inflows in the Information and Broadcasting (I&B) sector (including Print Media) in the period April 2000 – March 2019 stood at US$ 8.38 billion, as per data released by Department for Promotion of Industry and Internal Trade (DPIIT). The Government of India has supported Media and Entertainment industry’s growth by taking various initiatives such as digitising the cable distribution sector to attract greater institutional funding, increasing FDI limit from 74 per cent to 100 per cent in cable and DTH satellite platforms, and granting industry status to the film industry for easy access to institutional finance.