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PM Narendra Modi Emphasises the Importance of Concert Economy in India
Updated on: 29 January, 2025 02:09 PM IST |Amruta Karulkar
PM Narendra Modi and Chris Martin of Coldplay
Prime Minister Narendra Modi highlighted India`s immense potential in the concert economy while speaking at the `Utkarsh Odisha – Make in Odisha Conclave 2025` in Bhubaneswar on Tuesday. His remarks followed the massive success of Coldplay`s concerts in Mumbai and Ahmedabad, which saw multiple sold-out shows as part of the band`s Music of The Spheres World Tour. Modi urged both state governments and private players to invest in infrastructure to support large-scale live music events.
Acknowledging this trend, Modi emphasized the need for dedicated concert infrastructure, stating, “Big artistes from around the world are attracted to India. I expect the state and the private sector to focus on developing necessary infrastructure and skills for the concert economy.” He pointed out that India`s rich cultural heritage, coupled with a large, music-loving youth demographic, makes it a prime market for expanding the live entertainment sector.
Also Read: Coldplay Concert Mumbai: 5 Highlights From the Most Awaited Concert
He noted, “A country that has such a rich heritage of music, dance, and storytelling and a huge pool of youngsters who are big consumers of concerts, there are many possibilities in the concert economy. You have witnessed that in the last 10 years, the demand and trend for live events have increased. Over the last few days, you must have seen the beautiful pictures of Coldplay concerts in Mumbai and Ahmedabad. This proves that there is a massive scope for concerts in India.”
Also Read: Suhana Khan to Jasprit Bumrah: Celebrities Who Attended Coldplay Concerts
The concert economy refers to the financial ecosystem surrounding live music events, which includes ticket sales, sponsorships, merchandise, and local business growth. Globally, this industry is projected to reach a market value of 31 billion dollars by 2026, driven by the rising demand for live experiences and music festivals.
In India, the concert industry is estimated to have a potential market value of 6,000 to 8,000 crore rupees. Live music events not only generate revenue through ticket sales but also stimulate local economies by boosting spending on accommodations, food, transportation, and tourism.
With the success of international concerts like Coldplay`s and the Prime Minister`s push for infrastructure development, India is well-positioned to become a major player in the global concert economy.
Coldplay’s Spectacular India Tour
Coldplay, the globally renowned British rock band led by Chris Martin, performed five highly successful concerts in Mumbai and Ahmedabad. The overwhelming response to these events highlighted India`s growing enthusiasm for live music experiences. The packed stadiums and vibrant atmosphere showcased the country’s potential as a global concert destination.Acknowledging this trend, Modi emphasized the need for dedicated concert infrastructure, stating, “Big artistes from around the world are attracted to India. I expect the state and the private sector to focus on developing necessary infrastructure and skills for the concert economy.” He pointed out that India`s rich cultural heritage, coupled with a large, music-loving youth demographic, makes it a prime market for expanding the live entertainment sector.
Also Read: Coldplay Concert Mumbai: 5 Highlights From the Most Awaited Concert
Conference Tourism and Concert Economy Growth
PM Modi also linked the concert economy to the broader concept of `conference tourism,` highlighting venues like Bharat Mandapam and Yashobhoomi in Delhi as emerging hubs for large-scale events.He noted, “A country that has such a rich heritage of music, dance, and storytelling and a huge pool of youngsters who are big consumers of concerts, there are many possibilities in the concert economy. You have witnessed that in the last 10 years, the demand and trend for live events have increased. Over the last few days, you must have seen the beautiful pictures of Coldplay concerts in Mumbai and Ahmedabad. This proves that there is a massive scope for concerts in India.”
Also Read: Suhana Khan to Jasprit Bumrah: Celebrities Who Attended Coldplay Concerts
The concert economy refers to the financial ecosystem surrounding live music events, which includes ticket sales, sponsorships, merchandise, and local business growth. Globally, this industry is projected to reach a market value of 31 billion dollars by 2026, driven by the rising demand for live experiences and music festivals.
In India, the concert industry is estimated to have a potential market value of 6,000 to 8,000 crore rupees. Live music events not only generate revenue through ticket sales but also stimulate local economies by boosting spending on accommodations, food, transportation, and tourism.
With the success of international concerts like Coldplay`s and the Prime Minister`s push for infrastructure development, India is well-positioned to become a major player in the global concert economy.
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