Indian Music Industry (IMI) and Indian Singers Rights Association (ISRA) have joined hands to sign an agreement that covers all record labels, singers, and musicians in India. The accord is set to benefit all stakeholders across the Indian music industry and help the music market grow.
The apex body representing music labels in India, IMI, and the apex body representing singers, ISRA, have expressed their concern about the growing menace of digital piracy and non-recognition of copyright, seeking the government of India’s support.
“Music is India’s big soft power. And for the Indian music industry to become a global force, collaboration of all stakeholders is the key. We have seen positive results when composers, lyricists, and publishers work together. I am sure the same will happen when performers and sound recording owners work together,” said Vikram Mehra, chairman IMI, and managing director Saregama.
Blaise Fernandes, President and CEO of the Indian Music Industry, said, “The accord signed between IMI and ISRA will be the growth engine for the Indian music industry to propel itself to the top 10 markets in the world. The Indian music industry is poised for tremendous growth, and we are committed to ensuring that all stakeholders benefit from this growth. We will work closely with the government of India to tackle the growing menace of digital piracy and non-recognition of copyright, and we are confident that our efforts will bear fruit.”
The Indian Singers‘ Rights Association (ISRA) is a registered copyright society under the Copyright Act of 1957, dedicated to ensuring fairness and transparency with respect to the collection of royalties for singers, and representing performers’ interests in India.
Through various advocacy measures, IMI ensures that music rights receive their fair valuation, and best practices in copyright law are enforced on a pan-India basis. The accord between IMI and ISRA will act as a growth engine for the Indian music industry, and the stakeholders are optimistic about its positive impact.