New Delhi, May 2 -- The influence of India's creator economy on consumer spending is expected to almost triple to $1 trillion by 2030, a Boston Consultancy Group report released on Friday said.

India is home to 5 million content creators whose videos influence up to $400 billion of consumer spending. That is, 20% of India's $2,000 billion overall consumer spending. However, as of yet, it impacts only 30% of consumers in India, the report added. That is because a large audience uses social media just for fun.

The report said, "70% people watch content online 'to get entertained' and 'to get information', other reasons include 'develop new skills' and 'gain technical knowledge.'"

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