‘This is a landmark moment for the industry.‘ The recognition of the events and concert economy in the Economic Survey and the Finance Bill for the first time reflects years of sustained effort by senior industry leaders who have worked to bring the sector into formal policy discourse. The formation of a Joint Working Group, operating in parallel with the concert economy, and the continuity in budgetary focus together mark significant steps forward for the industry.
The Union Budget 2026–27 has, for the first time, positioned India’s events and live entertainment industry within the country’s formal economic growth framework, recognising it as part of a broader push towards creativity-led, services-driven development. Presenting the Budget, Union Finance Minister Nirmala Sitharaman highlighted the growing role of the “Orange Economy”, signalling stronger institutional support for creative industries as generators of employment, urban services and tourism.
Industry stakeholders have welcomed the inclusion of the concert economy in both the Economic Survey and the Budget, noting that this marks the first time live entertainment has been acknowledged at this level of policymaking. The recognition is seen as the outcome of sustained engagement by industry leaders and practitioners and as a signal that the events sector will increasingly be considered within future policy, infrastructure and skills-development frameworks.
“For those of us working on the ground, this budget is a positive signal. Being recognised in the Economic Survey and Finance Bill for the first time validates the work event professionals have been doing for years. The formation of a Joint Working Group gives the industry a much-needed platform to engage with policymakers, which can help bring more structure, clarity and long-term growth to the events and concert ecosystem. This clearly tells us that we are in the right business at the right time,” said Deepak Choudhary, Founder & MD, EVENTFAQS Media and EVA Live (India & Middle East).
Sabbas Joseph, Co-Founder and Director, Wizcraft Group said, “After the live concert economy featured in the Economic Survey a few days ago…. This is doubly awesome. Finally, for the first time ever our country’s Finance bill has mentioned the word “events” as an industry even if the focus is on Live Concert Economy …. This is a big boost for our sector and policy making in our sector. As an industry THIS IS OUR TIME. It’s time to continue powering forward together and make the change and also see ourselves and our country benefit from our efforts.”
Global benchmarks cited in the Survey underline the scale of opportunity. Live music accounts for roughly one-third of global music industry revenues. In the United States, live music generated more than USD 130 billion in economic output and supported over 900,000 jobs in 2019. In the United Kingdom, music tourism contributed £6.6 billion — around 0.3 per cent of GDP — in 2022. More broadly, UNCTAD estimates referenced in the Survey suggest that creative industries contribute between 0.5 per cent and over 7 per cent of GDP across economies.
The Survey highlights concerts as short-duration tourism multipliers, intensifying spending on accommodation, food services, transport and city services over brief periods. It also points to the sector’s labour-intensive nature, with employment generated across event operations, stage and technical management, logistics, hospitality, security and media — segments that tend to absorb younger workers and creative professionals.
In India, the concert economy remains at an early stage but is expanding, supported by a young population, rising discretionary spending, digital ticketing platforms and improving urban infrastructure. However, the Survey cautions that scale alone will not unlock sustained economic gains. It stresses the need for urban readiness and facilitative governance, including predictable regulations, crowd management systems, efficient transport connectivity and streamlined approval processes.
Structural constraints continue to limit growth. These include a shortage of large-format live-event venues, complex clearance requirements and restrictions related to payments, visas and foreign exchange permissions for international performers. The Survey suggests that opening select heritage monuments for curated events, alongside easing visa and foreign exchange norms for foreign artists, could significantly enhance India’s appeal as a global concert destination.
Currently, event organisers often require between 10 and 15 separate approvals from multiple authorities. The Ministry of Information and Broadcasting is working towards a single-window clearance mechanism for live entertainment permissions, including coordination with state governments — a reform that the Survey implicitly identifies as critical to unlocking the sector’s potential.
The Budget builds on the Economic Survey 2025–26, which frames sectors driven by culture, media, entertainment and intellectual property as scalable economic contributors rather than niche leisure activities. Termed the Orange Economy, these activities derive value primarily from ideas, artistic expression and cultural capital, and are increasingly linked to urban growth and service-sector expansion.
A key announcement in the Budget was fresh support for India’s animation, visual effects, gaming and comics (AVCG) sector. Sitharaman noted that the industry is projected to require nearly 2 million professionals by 2030. To strengthen the talent pipeline, the government will support the Indian Institute of Creative Technologies, Mumbai, in setting up AVCG content creator laboratories across 15,000 secondary schools and 500 colleges nationwide. While focused on digital content creation, the initiative is expected to have spillover benefits for live events, experiential entertainment and content-led event formats.
Within this wider creative economy framework, the Economic Survey identifies the concert economy as a particularly high-impact yet underdeveloped segment of India’s services landscape. Live concerts and large-scale events, it notes, generate economic value well beyond ticket sales, driving demand across hospitality, transport, logistics, advertising, security, production services and local vendors.
While the Finance Bill, 2025 primarily gives legislative effect to the government’s broader fiscal proposals, the Budget speech and the Economic Survey together provide a strategic direction for culture- and events-led growth. Taken together, they position the events and concert economy not as discretionary entertainment, but as a component of India’s wider urban development, tourism and employment strategy — with the potential to emerge as a durable source of services-led economic value.
