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Indian Music Industry and Singers Unite: Historic Agreement Boosts Music Market Growth

The historic agreement between the Indian Music Industry (IMI) and the Indian Singers Rights Association (ISRA) has received unanimous acclaim from both organizations. As the apex bodies representing music labels and singers in India, they believe this agreement will have a positive impact on the music market and benefit all stakeholders across the industry.

The IMI and ISRA extend their heartfelt appreciation to Honorable Commerce and Industry Minister Piyush Goyal for his unwavering support towards the artist community and the music industry. They eagerly anticipate collaborating with Minister Goyal and the Department for Promotion of Industry and Internal Trade (DPIIT) to unlock the industry’s full potential and fulfill the vision of the Honorable Prime Minister of India to promote Indian music and strengthen the country’s soft power. On this momentous occasion, the music industry seeks the assistance of the Government of India in addressing the growing problems of digital piracy and the lack of copyright recognition.

Padmashri Anup Jalota, Chairman of the Indian Singers Rights Association, expressed his delight, saying, “I extend my gratitude to the Government of India, especially Piyush Goyal Ji, without whose support this agreement would not have come to fruition. I wish the entire music industry the best and hope that this collaboration will bring benefits to all.”

Sanjay Tandon, Founder, Director & CEO of the Indian Singers Rights Association, commented, “It is wonderful to witness the coming together of record labels and artists at last. This unity will enable the music industry as a whole to grow and prosper as it should. This historic agreement should be music to everyone’s ears.”

Recognizing music as India’s significant soft power, Vikram Mehra, Chairman of IMI and MD of Saregama, emphasized the importance of collaboration among all stakeholders for the Indian music industry to become a global force. Drawing parallels with the positive outcomes achieved when composers, lyricists, and publishers work together, he expressed optimism that performers and sound recording owners collaborating would yield similar results.

Blaise Fernandes, President & CEO of the Indian Music Industry, stated, “This historic accord will serve as the growth engine propelling the Indian music industry into the top 10 global markets. Harmonious collaboration among all stakeholders in the music ecosystem creates melodies, and this has been the case worldwide.”

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