India is set to become the third biggest cinema market in the world after the US and China, as the country gears up to become home to the world’s biggest movie-going audience.
Bollywood, which has become an important pillar of the Indian economy, will now play a bigger role in the country’s cinema industry, says Bollywood’s chief executive officer, Vinod Bhambati.
The Indian film industry, with more than 4,000 movies released annually, is on course to surpass the US by 2022, he said at a seminar in Mumbai.
The number of Bollywood movies, currently in cinemas, will reach 7.6 crore by 2022.
This number will soon reach 12 crore.
Bhambatti, the chief executive of the Bollywood Movie Production and Distribution Corporation, said he is optimistic about the Indian film sector’s growth trajectory and is confident that it can be a big player in the global film market.
The number and variety of films released in India is at an all-time high, Bhamtati said.
He added that this would pave the way for the film industry to reach a new level in the medium of cinema, which is growing at a fast pace.
“It is a time when Indian cinema is emerging as an important global player,” he said.
The government is also investing in the film sector with the launch of the Cinema India Mission in 2021.
This is a major step in expanding the cinema industry in the short term, Bhopal-born Bhambi added.
India is now home to more than 60 million movie fans.
Bollywood has been in the top 10 movies released in the Indian market.
Bhopals leading star, Anupam Kher, is currently enjoying an annual salary of $2.8 million and has more than $4 billion in global box office receipts.
Bhopals most famous star, Aamir Khan, made $4.7 billion worldwide after starring in over 100 movies.