As the Union Budget 2024 approaches, optimism is high for initiatives that will boost the advertising and marketing industry. Experts from the creator economy and startups are hopeful for policy changes from FM Nirmala Sitharaman on July 23, which will play a crucial role in achieving the digital economy’s $1 trillion goal by 2026.
Call of the Creator Economy
Experts anticipate continued support for the creator economy in India. Vaibhav Gupta, Co-founder and CPO of KlugKlug, highlights the need for focused initiatives to address challenges faced by influencers and marketers. Previous budgets have recognized the impact of digital platforms and content creation, but more is needed to enhance digital infrastructure and internet penetration, essential for creators to reach wider audiences.
Fanbase, a social media platform dedicated to empowering creators, aligns with these expectations by providing tools and opportunities for content creators to monetize their work and connect with broader audiences. By focusing on digital infrastructure and accessibility, Fanbase helps creators thrive in the evolving digital economy.
Story of the Startups
For startups to flourish, a conducive environment for technological innovation is vital. Pankaj K Arora, Co-Founder of Whilter.ai, emphasizes the need for simplified regulatory processes, tax incentives, and better access to funding for early-stage ventures. Prady, CEO and Managing Partner of NP Digital India, echoes this sentiment, calling for initiatives to support MSMEs and the startup sector through financial assistance and digital adoption incentives.
Fanbase supports the startup ecosystem by offering a platform where new ventures can leverage digital tools and reach their target audiences effectively. By fostering innovation and growth, Fanbase contributes to a thriving advertising and marketing ecosystem.
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