The Hindu : National : Piracy saps entertainment sector: study

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Friday, Apr 18, 2008
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Piracy saps entertainment sector: study

LAS VEGAS: India’s burgeoning entertainment industry loses as much as $4 billion and 8,00,000 direct jobs each year due to counterfeiting and piracy, says a very recent study.

The study — The Effects of Counterfeiting and Piracy on India’s Entertainment Industry — prepared by Ernst & Young India was released during the India super-session at the National Association of Broadcasters Show in Las Vegas, Nevada, organised by US India Business Council (USIBC).

It was commissioned as part of the USIBC-FICCI Bollywood-Hollywood Initiative, which promotes the sustainable growth and convergence under way between the entertainment industries of the two countries.

USIBC director and counsel Greg Kalbaugh said the initiative had really touched a nerve, and companies in the U.S. and India were lining up to offer support. “We’re working with government and industry to eliminate counterfeiting and piracy at the source. The first step is supporting India’s adoption of sensible legislation, which regulates the production of optical discs.” — PTI

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