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By:

Rupak Bardhan Roy

17 March 2026 at 8:04:57 pm

The Market of Fear

Alfred Hitchcock made fear a sophisticated form of entertainment. Above, James Stewart in Rear Window (1954) and Cary Grant in North by Northwest (1959). Let us begin where discussions of this kind usually begin, the market. Leaving thriller novels and short stories aside, market analyses of audiovisual thrillers suggest that the global OTT and theatrical market was projected to reach $10 billion by 2026. Although the United States remains its largest consumer, the vast Asia-Pacific...

The Market of Fear

Alfred Hitchcock made fear a sophisticated form of entertainment. Above, James Stewart in Rear Window (1954) and Cary Grant in North by Northwest (1959). Let us begin where discussions of this kind usually begin, the market. Leaving thriller novels and short stories aside, market analyses of audiovisual thrillers suggest that the global OTT and theatrical market was projected to reach $10 billion by 2026. Although the United States remains its largest consumer, the vast Asia-Pacific region—including China and the Indian subcontinent—is not far behind in terms of compounded annual growth. India’s audiovisual thriller market has reportedly been expanding by more than 9 per cent annually, with an audience of nearly 60 million viewers a year. The reasons for this rapid growth are not difficult to comprehend: provocative subject matter, polished presentation and, as an additional post-pandemic stimulus, the increasingly common habit of spending substantial portions of the day at home. But is this at all a problem? If I choose to spend my days and nights watching thrillers in a free country, whose concern is it anyway? What I am trying to convey is: there are humanist and psychological burdens of too much thriller consumption. To make this thesis of mine more accessible let's start with the psychology upon which this enormous market has been built. The Market Psyche Nearly eight decades ago, the relationship between the consumer’s fascination with thrillers and the industry built around it was mapped with remarkable precision by none other than the maestro of suspense, Alfred Hitchcock himself. It’s that obvious right? Who better than Hitchcock - one of the principal architects of the modern thriller market and the director of such celebrated classics as Shadow of a Doubt, Rear Window, Vertigo, North by Northwest, Psycho, The Birds among other gems - to have understood its psychological machinery better? According to Hitchcock, when we watch a crime or psychological thriller, we observe an intensely personal horror from an impersonal distance. We temporarily project ourselves into the consciousness of the terrified victim or the frightening situation. Yet, beneath that identification, we remain aware of our own security. In his own words: “In our subconscious, we are aware that we are safe, sitting in a comfortable armchair, watching a screen.” The master also identified an indispensable method for manufacturing suspense: “Suspense can be created by allowing the audience to play God.” The audience may know who the murderer is, while the characters do not. Suspense then emerges from a different question: will the characters discover what the audience already knows, or will they be mutilated before the narrative culminates? The spectator can therefore sit safely with a bucket of popcorn and think, “Poor creature—dead before realizing what was happening.” The audience possesses privileged knowledge and is allowed to observe the characters from an almost divine vantage point. The market recognizes this latent God complex, stimulates it and converts the spectator’s detached, sometimes disturbing pleasure into a saleable experience. In his essay The Enjoyment of Fear, Hitchcock offered another formulation combining identification with safety: “They identify themselves with fictitious characters who are experiencing fear … but … the price need not be paid … is the important factor.” To explain this, he referred to an analogy with roller coasters. For a few moments, the rider’s body, mind and senses might be thoroughly unsettled. Subconsciously, however, the consumer knows that an invisible structure of protection remains in place and that their life is not genuinely in danger. Do you see Hitchcock playing Frankenstein and we, his psychological creatures? The thriller market therefore rests upon two fundamental psychological conditions: An impersonal, almost God-like sympathy for characters in danger, a detached indulgence in their fear and psychological disturbance. Secondly, the temporary projection of oneself into uncertainty, accompanied by the subconscious assurance that one remains completely safe. A Cleveland Clinic discussion of media consumption and psychology suggests that women consume thriller content more frequently than men. Many women reportedly say that such content makes them more conscious of the dangers they may encounter within contemporary patriarchal societies and consequently encourages greater caution. Nor does the research claim that prolonged exposure to thrillers necessarily makes a person criminally inclined. The more credible concern is that the thriller market may reinforce existing prejudices and intensify social insecurity. In the United States, popular thriller narratives involving Black characters have often perpetuated racist stereotypes associating Black communities with criminality, addiction or sexual misconduct. In many Asia-Pacific societies, excessive consumption of thrillers may similarly contribute to an atmosphere of suspicion, insecurity and distrust. The possible consequences include greater instability in personal relationships and a broader culture of social intolerance. In a country like ours where intolerance has already become a serious feature of civic life, the concern is that thriller mania may add further fuel to it. The problem, therefore, is not the existence of thrillers or the experience of fear as entertainment. It is the transformation of that experience into habitual consumption. An endlessly expanding market repeatedly invites us to encounter other people’s fear, pain and vulnerability without paying any corresponding emotional or material price. From the security of our armchairs—the invisible shelter described by Hitchcock—we consume dramatized versions of other people’s struggles, anxieties and everyday suffering. Their danger becomes spectacle; their vulnerability content; and our psychological distance from their reality becomes the commodity being sold. This does not mean that watching thrillers automatically turns either you or me into criminals or morally corrupt individuals. The more relevant question concerns psychological well-being and social responsibility: how much is too much? (The writer is a Lead Process Engineer with GE HealthCare in France and a columnist with four books to his credit. Views personal.)

Indian Shipbuilding A Must Win Marathon

Writer: Capt. Naveen S Singhal
Capt. Naveen S Singhal
Dec 5, 2024
4 min read
Shipbuilding

With a coastline of 7500 KM, it is hard to imagine, that for the first 20 years (1947-1967) India had no ‘shipping ministry’. In 1967 a Shipping ministry “coupled” with ROAD transport was established. Since then, this ministry has been on a name changing ride, not once, not twice but six times. In 2009 the “ROAD Transport and Highways” was de-coupled and ‘Shipping’ ministry was formed. Turning point came in 2015 with a clear maritime vision for 2030 and 2047. Ministry was re-christened, aptly to Ministry of “Ports, Shipping and Waterways” in 2020.


Why is Shipbuilding important for a country?

a. A Shipyard becomes an opportunity hub and like a queen bee requires the support of an industrial colony to manufacture machinery and equipment.

b. National Shipyards support fleet renewal needs of the Navy.

c. Contributes to national GDP, increases inflow of FOREX.


Korea shipbuilding is 8% of GDP. Japan’s automobile industry is 2.9% of GDP. India’s shipbuilding a meagre 0.000578% of GDP. In context, India’s pharmaceutical industry, ranked third largest in the world is 1.72% of India’s GDP.


International Shipbuilding Market

The market is estimated to reach around USD 200 billion by 2029, growing at a CAGR of 4.84%. While India is at bottom with 0.07% of world share, behind Philippines 1.5% and Vietnam 1%, however on the positive side, India has done well in taking care of its defence needs, with 37 of 39 Naval ships being built in India yards. Rear Admiral S Shrikhande researching on maritime as a Fellow at Wollongong University, Australia, says “Shipbuilding in India needs both, serious incentivisation and dogged determination and not harping on being a big ship breaking country. That Garden Reach shipyard has a $54 million order for merchant ships from a German owner, is a good sign.”


Were Shipyards of 20th century in Flight mode?

Prominent shipyards in India were built in the colonial period. Mazagon Dock 1774, Garden reach 1884, Hindustan shipyard 1941 to cater to British navy and merchant fleet needs. Cochin shipyard 1972, Adani Katupalli 2013, Reliance Naval and Engineering, Rajula Gujarat 1997 and others have limited capacity, hence a lot more work to do. Capt. Subhangshu Dutt (Singapore) a mariner and now a shipowner, says “GOI should hold hands in any collaboration till the marriage with the foreign entity is reasonably stable. He also suggests that “new shipbuilding sites should be given to existing successful shipyards since they have decades of experience and talent. Consortium of 3 or more parties may also be good idea”.


Shipbuilding GOLD

As per SPLASH report the demand for LCO2 carriers could reach 2,500 ships by 2050. As per other estimates, 40% of global fleet of ships could have wind propulsion by 2050. A surge in such vessels is due to an unparallel waves of decarbonization in the shipping industry. Demand for ships with ‘carbon neutral’ badges, such as Dual fuel, Wind assisted, Nuclear fuel ships, Hydrogen powered ships, Liquified CO2 (LCO2) carrier, is outstripping supply. A must in the ‘bucket list’ of every Shipyard. Pinning down a standard ROI in shipbuilding is not easy, but experts suggest it could range from 4% to 15% for the high demand ‘carbon neutral’ ships. While an LNG new build vessel could cost US$ 250 million upwards.


International collaboration

On China’s shipbuilding success story, Manoj Pandalanghat (Singapore) a mariner and ship owner believes that “China has around 50 active Shipyards. Each have a few large dry docks. In each dock two or more large vessels are built simultaneously. Thus, a single yard is able to roll out 2/3 vessels/month, 36 vessels/year and 50 shipyards roll out 1800 vessels/year”.


China could be a jaldi-5, but India needs a sturdy Mount Fiji. Besides technology, Japanese bring the most important hand baggage of soft-skills and culture, essential for success from keel laying to delivery. Maruti’s is a standing example.


Food for thought for New Delhi

a. Expertise: Hire Naval Architects and shipbuilding experts with current international experience.

b. Government assistance: Land, Financial support, subsidies and timebound clearances.

c. Monitoring: PMO should monitor the first 5 to 10 years till Shipbuilding takes-off on this long-haul flight to destination 2047.


India’s Shipbuilding is expected to grow to $237 billion by year 2047. On a back of the envelope calculations this works out to about 4% of India’s 2047 projected GDP of $ 5 trillion. While cars are driven on roads, however the Ministry of roads and transport has little to do with “Automobile manufacturing”. On a similar note, ‘Shipbuilding’ as an industry has little to do with Ports, Shipping and Waterways, thus it may be worthwhile to consider a separate ‘Ship-building’ wing in the Ministry of Ports, Shipping and Waterways headed by a dynamic cabinet rank minister. Since 2047 targets are stiff and an uphill task, so in all probabilities, the officials in Ministry of Ports, Shipping and Waterways are likely to push beneath the carpet, delays and failures of Shipbuilding with sweet success stories of “Ports, Shipping and Waterways” and if this does happen then India will not only miss the Shipbuilding bus of 21st century but a lot more from a national security and strategic perspective.


(The author is a Shipping and Marine consultant. Member Singapore Shipping Association and empaneled with IMO as a specialist consultant. Views personal.)

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