Politics
PM Modi Launches WAVES Summit in Mumbai, Eyes $50 Billion Creative Economy
Mumbai, May 1, 2025 – Prime Minister Narendra Modi kicked off the World Audio Visual and Entertainment Summit (WAVES) 2025 today at Jio World Convention Centre, positioning India as a global powerhouse for media, entertainment, and digital innovation. The four-day summit, themed “Connecting Creators, Connecting Countries,” draws 10,000+ delegates from 90 countries, blending Bollywood star power with tech-driven creativity to target a $50 billion market by 2029.
Key Announcements
- WaveXcelerator: A platform linking 350+ media and entertainment startups with global investors through live pitch sessions, boosting innovation in AI, gaming, and AVGC-XR (Animation, Visual Effects, Gaming, Comics, Extended Reality).
- WAVES Bazaar: A digital marketplace with 6,000+ buyers and 5,000+ sellers, driving trade in films, TV, music, and OTT content.
- Global Media Dialogue: Led by External Affairs Minister S. Jaishankar, with 25 countries’ ministers discussing AI in media, broadcasting, and digital monetization.
PM Modi’s Vision
“India’s stories, from village folk tales to digital screens, will define the world’s creative future. WAVES is our launchpad for a vibrant Orange Economy,” Modi declared, urging creators to unleash “one billion untold stories” via film, OTT, and gaming.
Summit Highlights
| Event | Details |
|---|---|
| Bharat Pavilion | “Kala to Code” theme, showcasing India’s journey from oral tales to VR. |
| Create in India | 100,000+ creators registered; Modi met winners of 32 creative challenges. |
| Star Speakers | Shah Rukh Khan, Aamir Khan, Rajinikanth, Satya Nadella, Anurag Kashyap. |
| Cultural Evening | Shreya Ghoshal, Shankar Mahadevan, and KING x Alan Walker performed. |
Why WAVES Matters?
- Economic Boost: India’s media and entertainment sector reached ₹2.5 lakh crore in 2024; WAVES targets $50 billion by 2029, fueled by OTT, gaming, and AVGC-XR.
- Global Stage: 1,000 creators, 300+ companies, 42 sessions, and 32 masterclasses elevate India’s soft power.
- Tech Edge: Discussions on AI-driven content, VR, and metaverse signal India’s digital creative leap.
Upcoming Initiatives
- June 2025: Madhya Pradesh to launch Film Tourism and AVGC-XR policies, building on WAVES buzz.
- August 2025: WAVES Awards debut, honoring global creative excellence.
With Shah Rukh Khan’s electrifying speech, Shreya Ghoshal’s soulful opening, and tech titans like Satya Nadella sharing insights, WAVES 2025 fuses Mumbai’s cinematic legacy with cutting-edge innovation, setting a bold course for India’s creative dominance.
