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A forecast by GlobalData expects a 6.7% CAGR from $1.5 billion in 2023 to $2.1 billion in 2028 for the industry.

The announcement was made in an internal newsletter to employees: Singh will step down as soon as the company finds a suitable replacement. He stated that the company has begun a structured succession planning process to find his successor.

The transaction values the satellite TV provider, Tata Play, at about $1 billion, Bloomberg News reported, citing unidentified people familiar with the matter. Tata Sons, the holding company of Tata Group, had already bought a 10 percent stake held by state-owned Singaporean investment vehicle Temasek Holdings for around $100 million, local media reported.

The promo of the Indian-American thriller from director Shyam Madiraju will be screening during Cannes' Marche du Film.

While some details have not been announced yet, the companies explained that the films will include a “genre-bending adventure” and a “rom-com like no other.”