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(THE GIST OF PIB) Orange Economy
(MAY-2025)
Orange Economy
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At the World Audio Visual Entertainment Summit (WAVES) Summit in Mumbai recently, the Prime Minister spotlighted India’s booming orange economy—powered by content, creativity and culture.
About Orange Economy:
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The Orange Economy, also known as the ‘creative economy,’ is a concept that includes sectors related to creativity and cultural industries.
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According to the United Nations Economic Network, the creative economy is an evolving idea that focuses on the contribution and potential of creative assets to drive economic growth and development.
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This economy integrates economic, cultural and social aspects, interacting with technology, intellectual property and tourism objectives.
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It consists of knowledge-based economic activities with a development dimension, featuring cross-cutting linkages at macro and micro levels to the overall economy.
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These are industries based on individual creativity, skill and talent, with the potential to create jobs, wealth and cultural value.
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Industries within this economy include advertising, architecture, arts and crafts, design, fashion, film, video, photography, music, performing arts, publishing, research and development, software, computer games, electronic publishing, and TV/radio.
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Popularised by Colombian economists Felipe Buitrago and Iván Duque, the term “orange” symbolises creativity and cultural identity.
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According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), the Orange Economy accounts for 3% of global gross domestic product (GDP) and 30 million jobs worldwide.
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Inspired by ideas, it’s known for constant innovation, singular products (not mass production) and digitized processes.
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