New Delhi, Apr 18 (PTI) The Culture Working Group (CWG) of the G20 currently chaired by India will host a webinar on Wednesday on promotion of cultural and creative industries and creative economy.

The webinar will reflect on the current trends, challenges and opportunities of the cultural and creative industries, bringing together experts from G20 members and guest nations, as well as relevant international organisations.

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Organised by the Ministry of Culture, the webinar is being hosted and facilitated by UNESCO (Paris), the knowledge partner of the CWG, the ministry said in a statement.

As a part of the series of global thematic webinars being organised by the CWG, the third webinar on 'Promotion of Cultural and Creative Industries and Creative Economy' is scheduled to be held on April 19, it said.

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The cultural and creative industries and creative economy, play a significant role in shaping our global landscape, contributing 3.1 per cent to the worldwide gross domestic product. This substantial economic impact contributes to the enrichment of our social and cultural fabric. Notably, the cultural and creative sector employs more people in the age group of 15-29, compared to any other and therefore demonstrates a strong potential for fostering youth employment, the statement said.

Although the cultural sector makes a substantial contribution to the global economy, its long-term growth is hindered by the absence of a standard definition of the creative economy and insufficient collection of cultural data contributing to its informal nature. Today, 60 per cent of the global creative economy is informal. These challenges not only affect the status of cultural practitioners but also have greater impacts on the larger economy, it added.

The objective of this webinar is to foster an inclusive dialogue and facilitate an in-depth discussion from an expert-driven perspective on promoting cultural and creative industries and creative economy. It seeks to encourage knowledge sharing; capitalise on the best practices and experiences; identify gaps, needs, and opportunities for increasing the creative economy's share in the global GDP and improving cultural data collection for the creation of satellite accounts for the sector, a key step towards its formalisation, the ministry said.

The webinar will also inform the reflection of the G20 membership in formulating tangible outcomes, it said.

It will have three speaking segments and experts will be distributed across these segments based on their respective time zones. The webinar will be moderated successively by representatives of the ILO, UNCTAD and WIPO with expertise on the topic. It will be live-streamed on the YouTube channel of UNESCO (Paris), the statement said.

The final global thematic webinar is scheduled to be held on April 20 on 'Leveraging Digital Technologies for the Protection and Promotion of Culture', it said.

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