“Bollywood” is both a business as well as an art form. Does art discover its recognition without business? It may sound a little oxymoronic, but does art find its recognition without business? Certainly not! Bollywood is indeed a thriving Indian film business that lives by this motto. It is undeniably a significant, spectacular, and then one of India’s largest industries.
Our country only gained independence seventy-one years ago and has been on its way to being classified as a “developed country.” In a circumstance such as this, a large industry has a lot to do with the economy of the country. Bollywood is well-established in Mumbai, where it’s been at the forefront for numerous years.
Bollywood is indeed a highly well-organized company, with such a large number of films made each year. Even though it is frequently disguised beneath the glamour of Hollywood, India is home to one of the world’s major film cities. Bollywood’s entertainment is indeed a significant subject, and connected to that is its contribution towards the nation’s economy, well with 100 crore trend in action as well as numerous films meeting up to, if not beyond, public expectations. According to recent reports, it gives 50, 000 crores to the nation’s welfare and benefit.
We can’t just disregard the single pillars while discussing plurals. The more successful the actors are, the more taxes they pay, which indirectly contribute to the growth of the Indian economy. In 2013, the amount equals 0.5 per cent of GDP. The research was titled “Economic Contribution of such Indian Motion Picture and Television Industry” and also was produced by Deloitte’s financial services.
Bollywood, as a thriving industry, has found its way to international markets and is reaping substantial profits from exports. Exports climbed by 60% in 2007, with the United States and Canada serving as the primary export destinations. All of this adds to the development of the Indian economy, contributing to its well-being and progress.
Bollywood is responsible for 40% of India’s income, as well as the yearly growth rate is unexpectedly high, ranging between 10% and 20%. Various analysts have rated this industry as the second most important domain for India’s growth. Bollywood accounted for 15% of India’s overall earnings in 2009. According to reports, Bollywood is indeed the largest exporter in the US entertainment business, with popular films screening on up to 75 screens.
Also Read: What is the cultural importance of Bollywood?
