The entertainment & media industry of India will likely reach Rs 1.75 lakh crore by the year of 2016, a new report prepared jointly by the Confederation of Indian Industry (CII) and PricewaterhouseCoopers (PwC) said.

According to the 2012 Indian Entertainment & Media Outlook report, the Indian entertainment & media industry, which was estimated at Rs 80,000 crore in 2011, will grow at compounded annual growth rate of 17 per cent between
2012 and 2016.

The report attributed the growth to sustained growth in advertising and increasing consumer spending.

The report said, "Increased advertising and consumer spend will take the industry to desired heights. This will be fuelled by technological innovation leading to better quality of media content being consumed."

The advertising spending accounts for around 35 per cent of revenues in India's entertainment & media industry, which is dominated by TV and print.

The report also said that the growth in India's entertainment & media industry will largely come from the fast-growing Internet segment that has the potential to outperform the print sector by the year of 2014.

The entertainment & media industry's growth in India will be faster than those of China, Russia and Brazil, which are expected to grow at rates of 14 per cent, 12 per cent, and 11 per cent respectively.