On a recent afternoon, a waitress at a tony Thai restaurant in Bangkok broke into “Dola Re Dola,” the iconic song from Devdas (2002), upon spotting our Indian group. “I’m no Aishwarya Rai,” she joked, “but I love this song.” Her impromptu performance highlighted Bollywood’s growing global resonance.
In 2022, Gangubai Kathiawadi, a biopic starring Alia Bhatt, became a cultural sensation in Thailand, sparking viral reels of Thai women emulating the film’s titular character. India’s creative economy is undoubtedly creating a buzz in new territories. But can it address the pressing challenge of job creation? Globally, where does India stand in creative goods exports? According to the United Nations Conference on Trade and Development’s (UNCTAD) Creative Economy Outlook 2024, a small group of countries accounts for over two-thirds of global creative goods exports.
In 2022, China led the way with $250 billion, followed by the USA ($46 billion) and Italy ($39 billion). India’s corresponding figure stood at $21 billion. “India’s creative economy is large, but its untapped potential is even larger,” notes a 2022 working paper by the Asian Development Bank Institute (ADBI) and ICRIER.
This potential could address India’s most pressing economic challenge: job creation, particularly for youth. Currently, India’s creative economy contributes nearly 8% to national employment, significantly higher than countries like Türkiye (1%) or South Korea (1.9%).
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