Gaurav Banerjee calls for building a ‘silicon valley of creativity’ in India

At the 25th edition of FICCI FRAMES, Gaurav Banerjee, Managing Director and CEO of Sony Pictures Networks India, called for bold reforms and stronger institutional frameworks to scale India’s creative industries globally. Speaking on the theme “Regulating the Orange Economy: Our Creative Universe,” he emphasised the growing importance of the media and entertainment sector in an increasingly complex global environment.

Banerjee noted that India’s media and entertainment industry, currently valued at around $30 billion and contributing 0.7% of GDP, is projected to grow by 7-8% annually, driven almost entirely by domestic demand. “The question before us today,” he said, “is what will it take to grow this astronomically? Where and how will the next big leap come from?”

To frame the discussion, Banerjee posed two questions: What is stopping us from birthing, at scale, a content phenomenon like Airtel or the IPL, something truly global in its quality and scale, but birth in India? And second, how can we build an institutional framework that drives large-scale private investments into content creation, much like the IT or pharma booms of the past?

He urged the industry to think about building a ‘Silicon Valley of creativity’ in India, an ecosystem where talent, innovation, and investment come together to produce world-class content. Reflecting on the last 25 years, Banerjee pointed out three major turning points in Indian content: the launch of Kaun Banega Crorepati at the turn of the century, the birth of the Indian Premier League (IPL) in 2008, and the rise of pan-India storytelling through shows like Satyamev Jayate and Anupama and films like Baahubali.

“However, the last of these big innovations happened a decade ago. For the last ten years, we’ve been waiting for the next big leap, the next wave of large-scale innovation that audiences will truly root for and love,” he said.

Banerjee emphasised the need to aggregate human capital to fuel creative growth. Drawing parallels with the IPL, he said, “The IPL created a strong talent pipeline, local leagues, under-19 teams, talent scouts, and global talent hunts….That’s the kind of ecosystem we need for storytelling, one that identifies and nurtures the most authentic creators from across India.”

He said India, with its population of 1.4 billion and rich cultural diversity, has the potential for its films, music, and digital content to be “watched, shared, and celebrated globally.” “That’s where India’s answer to Squid Game, or the next Lagaan, still here and goes and gets an Oscar nomination, will get created,” he added.

Citing the recent success of Malayalam cinema, Banerjee praised its evolution as a model ecosystem. “Just this past weekend, I watched Lokah Chapter One. No film has enthralled me as much since Baahubali. Made at under Rs 30 crore, it has already crossed Rs 300 crore at the box office. That’s the kind of creative and commercial success possible,” he said, adding that films like Aavesham (2018) and Manjummel Boys have all contributed to this remarkable growth.

He proposed two key steps to build similar creative ecosystems nationwide. “First, we need to build creative institutions and centres of excellence that nurture talent. This means building institutions, recruitment pipelines, scouting organisations that bring the best of the best, and some effort the government has started making in this direction, which is fantastic,” he said.

Banerjee concluded by urging policymakers and industry leaders to make creativity central “to champion this agenda, to push boldly for reform, be experimental and open-minded around regulation. And let's think truly global in ambition. Let us together ensure that India has a creative economy, does not sit at the margins of policy, but stands as the very heart of our world story.”