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Culture Means Business: Tapping into India’s $100 Billion Cultural Wealth

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yesterday

In an era of startups, unicorns and infrastructure booms, India’s most important asset often goes unnoticed: its culture. Across every corner of the country, millions of artisans, storytellers, musicians, tour guides, chefs, folk performers and spiritual workers quietly sustain livelihoods and carry forward centuries-old traditions. Together, they form India’s cultural economy, a vast and largely informal sector that deserves far more attention than it gets.

According to the 2022 report “Creative India: Tapping the Full Potential” by ICRIER, India’s creative economy employs an estimated 39.7 million people (during 2017–18 to 2019–20), representing nearly 8% of the nation’s total workforce. Contributing close to 20% of India’s Gross Value Added (GVA), the sector stands as a major pillar of inclusive growth. The report also reveals that individuals engaged in creative occupations earn, on average, almost twice the wage rate of those in non-creative fields, a powerful reminder that creativity is not only a cultural strength, but also an economic force. With the right vision, policy and investment, India’s creative economy can transform livelihoods, inspire innovation and position the nation as a global leader in cultural enterprise.

Around the world, culture is increasingly seen not as a remnant of history, but as a powerful national asset one that defines identity, sparks creativity and enhances global standing. In today’s interconnected and influence-driven era, nations are harnessing their cultural heritage to craft compelling global narratives, drive economic growth and strengthen a sense of national pride. As Izabela Ścibiorska-Kowalczyk and Julia Cichoń observe in their peer-reviewed study published in Sustainability (MDPI, 2021): “South Korea is an example of a state which has seen popular culture as an opportunity to conquer global markets and strengthen its authority internationally.” Their analysis of South Korea’s cultural policy highlights a broader global shift, where culture is no longer treated as mere nostalgia or aesthetic tradition, but as a central pillar of economic and geopolitical strategy.

India is home to hundreds of living languages and dialects, offering unmatched cultural depth. This diversity is not just our heritage but a wellspring of soft power, economic potential and global influence. Yet to truly harness this wealth, we must go beyond symbolic celebration. Strategic investment in cultural........

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