Ever since economic liberalization, a competitive revolution has touched the Indian film industry. Earlier people were cautious of investing in the film industry as the risk factors involved were too high. But today the whole scenario is changed as sources of investment includes private banks. Film related companies are even on stock markets.
An important revolution is undergoing in this sector with the explosion of private sector TV channels as the new channels are competing for a fast- growing audience. It is very significant that the competition has provided opening to new comers and the market is judged on the basis of quality and innovation. Film revolution is producing new talents and social, cultural and economic problems are highlighted on the screen that can be digested by young viewers who have yet to gain experience of life. India is a country which is judged emerging global power on the basis of potentials.
STILL GROWING
Bollywood is undergoing rapid change. Entertainment sector has great contribution in communication and it conveys cultural values and new ideas in the society. Entertainment programmes shown in bollywood have direct impact on people specially the youth and this can inspire for better productivity. Productivity can be increased by using the resources efficiently. Quality products are possible with the help of competitive spirit and India can contribute successfully in cultural activities by making use of the soft power.
Competition and talent will help people to perform at their maximum and thus wilt gets the opportunity to improve their living and changing the lifestyle according to the needs of modern developmental process. Soft power has attained new significance and it is considered as an important asset for progress taking into account the limitation of physical resources. Human resource development is gaining prominent attention all over the world and entertainment is an important media for human development.
Intellectual properly level should be improved to match other countries in the realm of knowledge. The need is to stimulate productivity in different sectors which is possible when talented new comers participate in creative sectors such as the entertainment. Transparency in the entertainment sector is need of the hour so that the productivity can improve in this sector.
Banking industry may also play an important role in boosting interest in this sector. Bankers and other important business houses can have security schemes to the entrepreneurs to take risk in the development of creative films. This will restrict the role of black money and open new channels of investment in the entertainment sector. It is a critical sector now as it employs great number of people with different talent and training. Regional films are also contributing as these films target selected linguistic community. Information technology and scientific technology to develop film story are recent significant developments. Technology has changed the entertainment industry in today’s changing time and the future looks bright as well as the coming generation is taking interest in development that will enrich the human society.