‘Creative economy accounted for $121 billion of exports in 2019’

India’s creative economy comprising the arts and crafts, audio and video arts and design, among others, accounted for exports of goods and services worth $121 billion in 2019, according to a paper by the Exim Bank of India.

The research paper maps the untapped export potential of India’s creative economy, Exim Bank said in a release on the inauguration of Exim Bazaar at the National Crafts Museum, here on Saturday.

Exim Bank said the first of its kind study ‘Reflection & Development of India’s Creative Economy’ analysed seven different creative segments such as art & crafts, audio visuals, design and visual arts, as per the UN classification, to map their export potential.

India’s total exports of creative goods and services stood close to $121 billion in 2019, of which exports of creative services accounted for almost $100 billion, Exim Bank said citing the research paper.

“In India,…