ORANGE ECONOMY

NEWS: Finance minister announces plans to boost for Orange Economy in Union Budget 2026-27

Orange Economy

• Refers to knowledge-based economic activities where ideas and creativity are transformed into cultural goods and services, with their value primarily determined by intellectual property.
• These sectors derive their primary value from ideas, artistic expression and cultural capital rather than physical goods
• Audio-visual media (film, television), Live Entertainment like Music Concerts, Gaming Industry, Design, Theatre etc.

PRESENT CONTEXT

• UNCTAD: The creative industries contribute between 0.5% and over 7% of GDP across countries.
• India’s creative industry is $30 billion with the employment share: ~8% of India’s working population.
• The creative economy is estimated to generate an annual revenue of more than $2 trillion and generate nearly 50 million jobs across globe