India is making a bold play for global dominance in the media and entertainment sector. Prime Minister Narendra Modi’s recent inauguration of the World Audio Visual and Entertainment Summit (WAVES) 2025 in Mumbai signaled a clear intent: to transform India into a global hub for creativity and innovation. But can India truly capture a significant share of this lucrative market?
Unveiling India’s Creative Ambitions: WAVES 2025
WAVES 2025, a landmark event, is designed to connect creators, startups, industry giants, and policymakers from around the world. The four-day summit aims to unlock a staggering $50 billion opportunity for the Indian media and entertainment sector by 2029. This ambitious goal reflects the nation’s confidence in its creative potential and its desire to become a major force in the global entertainment economy.
The summit’s scale is impressive. It has drawn participation from over 90 countries, with more than 10,000 delegates, 1,000 creators, over 300 companies, and over 350 startups converging in Mumbai. WAVES 2025 features a comprehensive program, including 42 plenary sessions, 39 breakout sessions, and 32 masterclasses, covering a wide range of fields, from film and OTT platforms to broadcasting, infotainment, AVGC-XR (Animation, Visual Effects, Gaming, Comics & Extended Reality), and digital media.
“Create in India, Create for the World”
Prime Minister Modi’s message at the inauguration was clear: “This is the right time for ‘Create in India, Create for the World.'” He emphasized India’s rich storytelling tradition, its vast pool of talent, and its growing technological prowess. The government is actively encouraging creators to leverage these strengths and produce world-class content that resonates with global audiences.
The Prime Minister also highlighted the success of Indian cinema in taking India to every corner of the world, from Raj Kapoor’s popularity in Russia to Satyajit Ray’s brilliance at Cannes, and more recently, RRR’s Oscar triumph.
Key Initiatives and Global Engagement
WAVES 2025 is not just a showcase; it’s a platform for action. The summit includes several key initiatives designed to boost India’s creative industries:
- Global Media Dialogue (GMD): India is hosting the first-ever GMD, with ministerial participation from 25 countries. This dialogue aims to foster cross-border collaboration and strengthen India’s engagement with the global media and entertainment landscape.
- WAVES Bazaar: A global e-marketplace with over 6,100 buyers, 5,200 sellers, and 2,100 projects, the WAVES Bazaar facilitates networking and business opportunities, connecting creators and businesses both locally and globally.
- Creatosphere: The Creatosphere showcases talent selected from the 32 “Create in India Challenges,” which attracted over one lakh participants. This initiative highlights the depth of creative talent within India.
Challenges and Opportunities
While the potential is enormous, India’s path to becoming a global entertainment powerhouse is not without its challenges. Issues such as infrastructure development, access to funding, and navigating evolving technological landscapes will need to be addressed.
However, the Indian government’s strong support, coupled with the industry’s dynamism and the country’s vast and young population, presents a unique opportunity. WAVES 2025 is a testament to India’s commitment to harnessing its creative energy and transforming itself into a global leader in the media and entertainment sector. The coming years will be crucial in determining whether India’s $50 billion bet pays off, but the stage is certainly set for a dramatic transformation of the global entertainment landscape.
Credit: This article is based on information from Hindustan Times, Patrika, ANI News, and The Times of India.
Key Highlights:
- India is aiming to become a global hub for media and entertainment, with the WAVES 2025 summit playing a key role.
- ]PM Modi is promoting the “Create in India, Create for the World” initiative, encouraging the production of globally resonant content.
- WAVES 2025 features initiatives like the Global Media Dialogue and the WAVES Bazaar to foster international collaboration and business opportunities.
- India aims to unlock a $50 billion opportunity for the Indian media and entertainment sector by 2029.