$1 billion fund leaves creators upbeat, wary

Some say it will help influencers, while others flag concerns over access

- Pratishtha Bagai

India's plan to set up a $1-billion fund to back social media influencers has evoked praise from creators and industry experts, but not without concerns over lack of clarity on eligibility and fears of excessive regulation.

The fund is a "strong statement of intent. Its impact will depend on execution and accessibility", said Shudeep Majumdar, co-founder of Influencer Marketing firm Zefmo. "Clarity on fund allocation and eligibility criteria will be crucial, considering the sheer number of creators today."

Majumdar said the "fund's success will hinge on transparent guidelines, fair access, and accountability in execution. Further details, as and when they come out, will provide a clearer picture of its real impact."

India's influencer count has grown to over 4 million, up from less than a million in 2020, according to data from influencer intelligence platform Qoruz reported by Mint. The creator economy is expected to become a ₹3,375 crore industry by 2026, up from ₹2,344 crore in 2024, growing at a compound annual growth rate of 18%, according to an EY study.