India must aim for $1 trillion ‘Orange Economy’ by 2047: Kiran Mazumdar Shaw

Mumbai: The media and entertainment sector contributes $20 billion to the GDP today and we must aim for $100 billion dollar, and eventually, a $1 trillion ‘Orange Economy’ by 2047, which will resonate with the dream of Prime Minister Narendra Modi, global business leader and Biocon founder, Kiran Mazumdar Shaw, has said.

‘Orange Economy’ or the creative economy refers to knowledge-based activities that integrate culture, creativity, technology, and IP to drive economic, social, and cultural development.

The Indian startups involved in creative content sector should think beyond films and build brands, ecosystems, and intellectual property that create global waves, she said during the World Audio Visual and Entertainment Summit (WAVES) 2025 Summit here.

Mazumdar Shaw spoke about the global potential of Indian narratives.

“It’s time for India to create new stories that blend tradition and technology. Just as George Lucas drew inspiration from Indian epics for Star Wars, we can use technology to transform our cultural heritage into global franchises,” she noted.

Touching on India’s demographic and digital strengths, she said that with over a billion smartphones and a tech-savvy Gen Z, India is poised for global innovation.

“But like any blockbuster, success starts small — with an idea, strategy, and relentless focus,” she emphasised.

She drew parallels with her own journey of starting Biocon in a garage and building it into a global biotech force.

Talking about the India’s creative economy, she said that those in the filed should focus on the growth of the so-called ‘Orange Economy’ which has immense potential.

Responding to questions on India’s creative edge, Shaw highlighted the convergence of AR, VR, and immersive experiences as key frontiers.

“The next unicorns won’t just be apps — they will be creators who understand IP, tech, and immersive storytelling,” she noted.

She urged startups to embrace originality and persistence, saying “every great idea starts small. What matters is how far you take it. Failure is part of the journey.”

—IANS