The concert economy has been a key source of economy in the West and Asian countries like South Korea, Indonesia, and the Philippines. Now India is all set for a concert economy with Prime Minister Narendra Modi’s push towards improving infrastructure to attract concerts in the country.
All this is possible because of the massive success of Coldplay’s concerts in Mumbai and Ahmedabad. Coldplay’s Ahmedabad shows garnered a whopping 134,000 concertgoers. Coldplay co-founder Chris Martin said that it is their “biggest ever concert” and totally “mind-blowing” to experience the kind of energy India offers.
PM Modi on Coldplay’s recent concert shared his thoughts, saying, “You must’ve seen pictures of Coldplay. Big artists 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.”
India’s rising concert culture shows a huge potential boost towards India’s concert economy sector with an expected 6000 to 8000 crores valuation. Adding further, PM Narendra Modi shared, “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.”
So India can expect to see a new source of economy as a concert economy in the coming decade. Additionally, PM Modi pushed towards ‘conference tourism’ for venues like Yashobhoomi and Bharat Mandapam.
