What is 'orange economy' Sitharaman mentioned in Budget speech
01 Feb 2026

Finance Minister Nirmala Sitharaman has announced new measures to support India's "Orange Economy," also known as the creative economy, in the Union Budget for 2026-27.

The focus is on the animation, visual effects, gaming, and comics (AVCG) sector.

The United Nations defines the "Orange Economy" as a sustainable development model powered by intellectual property, creativity, and cultural heritage, embracing industries such as arts, design, film, and software.

Economic Survey 2025-26 highlights potential of creativity-led sectors
Growth potential

The government plans to set up content creator labs in 15,000 secondary schools and 500 colleges across India as part of this initiative.

The move is in line with the Economic Survey 2025-26, which emphasizes the potential of creativity-led sectors as major contributors to employment and economic growth.

These sectors include culture, media, entertainment, and intellectual property.

As per the economic survey 2025-26, India's live entertainment segment crossed ₹10,000 crore in revenue in 2024, rebounding strongly after the COVID-19 pandemic.

Concert economy's impact globally
Economic impact

Globally, the concert economy is a major contributor to GDP.

For instance, in 2019, live music in the United States generated over $130 billion and supported more than 900,000 jobs.

In the United Kingdom, music tourism contributed £6.6 billion to GDP in 2022.

The survey notes that concerts act as short-duration tourism multipliers by boosting spending on accommodation, food, transport, and city services.

Potential and challenges in India
Industry challenges

In India, the concert economy is still in its infancy but has great potential given its young population and rising discretionary spending.

However, structural bottlenecks remain, such as a lack of large live-event venues and complex payment processes for foreign performers.

The survey suggests opening heritage monuments for select events could enhance India's appeal as a global concert destination.

Need for regulatory simplification
Streamlining efforts

Currently, event organizers need 10-15 separate clearances for live events. The Ministry of Information and Broadcasting is working on a single-window mechanism to simplify these permissions.

This reform is seen as critical to unlocking the potential of India's concert economy.

The Economic Survey argues that with targeted policy support and regulatory simplification, India can turn creativity into a sustainable source of jobs and economic value through initiatives like AVCG creator labs announced in Budget 2026.