India's media & entertainment (M&I) industry is expected to grow at a rate of 12 per cent this year, but it is still lower than the sunrise industries, Disney UTV Managing Director Ronnie Screwvala said.

Speaking at FICCI FRAMES 2013, Mr. Screwvala stressed that the gap in the phenomenal talent needed to be filled in to help the industry grow further.

Delivering a speech at the conference, he said, "I believe that we need to fill in the gap between the phenomenal talent to grow content and match it with the commerce part of it."

He added that the TV and broadcasting had finally seen the implementation of digitization but it would consume two to three years for revenue monetization.

Uday Kumar Varma, secretary for the Ministry of Information & Broadcasting, said that the process of digitization was taking place quietly as well as smoothly in record time.

Mr. Verma also announced the Ministry's plans to offer 839 radio licenses in the coming years.

Information & Broadcasting Minister Manish Tewari, who was also present at the conference, assured that the government would lend support to facilitate the rapid growth of media & entertainment industry in India.