The Indian Chamber of Commerce (ICC) launched the All India Initiative on Creative Economy (AIICE) to unite India’s creative industries for collaboration.
About Creative Economy (or orange economy):
- The creative economy, also known as the Orange Economy, is an economic system focused on the creation and distribution of creative goods and services.
- It relies heavily on human creativity, innovation, intellectual property, and the interplay of ideas, knowledge, and technology.
- Industries included under this economy are diverse, encompassing advertising, architecture, arts and crafts, design, fashion, performing arts, film and television, music, software, literature, video games, and more.
- India’s creative economy is valued at $30 billion and employs 8% of the working population.
- The value in this economy is derived from the intellectual content of goods and services rather than their physical attributes.
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Frequently Asked Question:
What are examples of creative economies?
Creative economies include sectors like film, music, publishing, fashion, and software development, where value is generated through creativity, innovation, and intellectual property.
What is the difference between creative economy and creative industries?
The creative economy refers to the broader economic system driven by creativity, encompassing all sectors where creativity adds value. Creative industries, however, are specific sectors like media, arts, and design that directly produce creative goods or services.
What is another word for creative economy?
Another term often used for the creative economy is the “cultural economy.”