The Prime Minister emphasized the significance of the Orange Economy in India during the WAVES 2025 summit

Orange Economy – It pertains to sectors that depend on personal creativity, skill, and talent, fundamentally grounded in ideas and knowledge.

It encompasses areas such as music, film, design, fashion, publishing, arts, advertising, and software development.

Origin - Orange was selected as a hue that connects with various cultures in artistic, spiritual, and cultural domains.

The phrase orange economy was initially introduced by former Colombian President Iván Duque Márquez along with former culture minister Felipe Buitrago.

The orange economy integrates cultural, economic, and social aspects along with sectors such as technology, tourism, and intellectual property.

The United Nations General Assembly proclaimed 2021 the International Year of Creative Economy for Sustainable Development.

India's Creative Economy

India is developing into a worldwide center for movie production, digital media, gaming, fashion, music, and live performances.

India's media and entertainment sectors are expected to expand from $28 billion to more than $100 billion in the coming ten years.

India's graphic and animation sector is set to experience significant growth and contribute to the country's economic prosperity.

Importance of range economy

It holds the capacity to drive growth, create employment, and encourage innovation.

It will foster entrepreneurship, produce millions of jobs, and initiate a ripple effect throughout various sectors.

It features interconnected relationships at both macro and micro levels with the entire economy.

It aids in the advancement of economic, social, and cultural growth.

Helps to attain sustainable development objectives.