The British rock band’s sold-out performances in India have proven that the country has significant potential to become a global hub for live music events. Modi urged both states and private sector players to focus on developing the infrastructure and skills necessary to support this growing sector.
During his speech at the ‘Utkarsh Odisha, Make in Odisha Conclave,’ Modi emphasized that India, with its rich heritage of music, dance, and storytelling, has a vibrant pool of young consumers who are eager for live performances. He noted that the demand for live events and concerts has surged over the last decade. The Coldplay concerts, which drew record-breaking audiences, serve as proof of the huge potential for growth in this sector.
In his remarks, Modi stressed the importance of developing world-class concert venues and infrastructure to meet the increasing demand for live entertainment. As India becomes an increasingly popular destination for international artists, there is a growing need for specialized venues, skilled event organizers, and improved services for concert-goers.
The concert economy is a rapidly growing financial ecosystem surrounding live music events. Globally, this sector is projected to reach $31 billion by 2026, driven by the shift from physical album sales to live performances. In India, the concert economy is expected to grow robustly, with the market potentially valued at ₹6,000-8,000 crore. This includes revenue generated through local spending on accommodations, food, and transportation during live events, which boosts local economies significantly.
- PM Modi sees immense potential in India’s concert economy, especially after Coldplay’s successful shows in Mumbai and Ahmedabad.
- India’s "conference tourism" is also growing, with venues like Bharat Mandapam and Yashobhoomi in Delhi becoming major centers.
- The concert economy in India is estimated to reach ₹6,000-8,000 crore, contributing significantly to local economies.
