Guwahati: Assam on Wednesday formally initiated steps to develop a concert economy in the state, which has seen remarkable growth in the country in recent years, driven by rising disposable incomes, a young and experience-driven demographic, rapid digital adoption, and an increasing appetite for large-scale live entertainment events.Assam chief minister Himanta Biswa Sarma announced that to begin with, American rap and hip-hop artiste Post Malone will perform in Guwahati on Dec 8. Sarma's announcement came after the state cabinet approved the "Policy for Concert Tourism in Assam," which aims to position the state as a premier music and tourism hub to host large scale concerts and music festivals.Under this policy, state-of-the-art concert venues equipped with world class light and sound technology will be developed and the state tourism department will support concerts with required viability gap funding.

Guwahati, Dibrugarh and Jorhat will be developed as concert tourism hubs under this policy.This will be Post Malone's second performance in India. The first one took place in Dec 2022 at Mahalaxmi Race Course in Mumbai.Prime Minister Narendra Modi endorsed India's growing concert economy during his address at the Utkarsh Odisha – Make in Odisha Conclave in Jan where he said, "In a country with such a rich heritage in music, dance and storytelling, with such a large pool of youth and a massive consumer base for concerts, there are vast opportunities for the concert economy.

In the past decade, both the trend and demand for live events have grown.

You must have seen the incredible images from the Coldplay concerts in Mumbai and Ahmedabad in recent days. This is proof of how much scope live concerts have in India."A report by EY-Parthenon, ‘India's rising concert economy: Coldplay's Ahmedabad tour sets the blueprint for India's next cultural boomtowns' states that India's organized live event segment surpassed Rs 12,000 crore in 2024 and is projected to grow at a compound annual growth rate (CAGR) of around 19% over the next three years.The report stated that Coldplay's Ahmedabad concerts generated an estimated Rs 641 crore in economic impact, including Rs 392 crore directly into the local economy and Rs 72 crore in GST revenue and enhanced Ahmedabad's global visibility."The ripple effect of such events extends beyond immediate financial gains. Core impacts include direct contributions such as ticketing revenues and taxes, while enabling impacts span across allied industries such as tourism, hospitality, transport, logistics, and retail.

Furthermore, these events foster opportunities for local creators and professionals, promote sustainable practices, and drive inclusivity and diversity," the report stated."Our state was losing out on the concert economy to other states, including our neighbour Meghalaya. This policy aims to position Assam as a premier music and entertainment tourism hub to host large-scale concerts and music festivals," Sarma said.