ORANGE ECONOMY: CREATIVITY, CULTURE AND INNOVATION AS DRIVERS OF ECONOMIC DEVELOPMENT

Abstract

The Orange Economy is a new economic dimension that involves turning imagination, creativity, culture, artistic expression, innovation and intellectual property into economic assets.It covers traditional crafts, handicrafts, handlooms, performing arts, cultural heritage and tourism, and modern industries like cinema, music, digital media, animation, visual effects, games, design and live entertainment.The current study focuses on the concept, key elements, economic importance and prospects of development of the Orange Economy with a particular focus on India.This study is descriptive and analytical in nature and it is secondary data that are obtained from the various institutional reports and published sources.It emphasises the importance of creative industries in terms of employment creation, income generation, export diversification, entrepreneurship, tourism development and cultural heritage.India has a high potential in this segment with its rich cultural heritage, wide array of traditional craftsmanship, growing entertainment industry, youthful population and rapidly growing digital market.Handicrafts and handlooms can be used to promote and sustain rural livelihoods and women participation, and cinema, music, animation, gaming and digital content can provide skilled jobs and market opportunities in the world.Challenges also identified in the study include informal employment, lack of adequate finance, limited statistical data, low IP awareness and lack of institutional support, and lack of digital inequality.It concludes that a national policy framework that is comprehensive, backed by reliable statistical measurement and effective skill development for creativity, will strengthen the Orange Economy of India and make creativity an important lever for inclusive economic growth and sustainability.