In a landmark move to bolster India’s creative economy, the Government of Maharashtra and the Ministry of Information & Broadcasting (MIB) have signed a Memorandum of Understanding (MoU) to develop a world-class creative hub on a sprawling 240-acre plot in Malad, Mumbai. The initiative, announced by Maharashtra Chief Minister Devendra Fadnavis and Union Minister Ashwini Vaishnaw, aims to position Mumbai as the global capital of creativity and entertainment.
The creative hub will be co-developed by the state and central governments, with the goal of creating cutting-edge infrastructure to support industries like film production, post-production, animation, gaming, and extended reality (XR). This development aligns with the vision to establish Mumbai as an international center for creativity, further solidifying its status as India’s entertainment capital.
Chief Minister Fadnavis emphasized that this hub, along with the Indian Institute of Creative Technologies (IICT) set to be established at Film City in Goregaon, will attract global talent and investment. “We are creating an ecosystem that will compel the global film and entertainment industry to come to Mumbai,” Fadnavis stated.
As part of this initiative, the IICT will serve as a premier institution for nurturing talent in Animation, Visual Effects, Gaming, Comics (AVGC), and XR sectors. Modeled after IITs and IIMs, IICT aims to provide world-class education, research opportunities, and skill development. The institute has already been incorporated as a Section 8 company with equity participation from the Government of India (48%), Maharashtra Government via MFSCDCL (14%), and industry bodies like FICCI and CII (26% each).
The IICT will initially operate from a temporary campus at the National Film Development Corporation premises before moving to its permanent location at Film City. The Government of India has allocated ₹391.15 crore for infrastructure development and initial operations.
To further amplify Mumbai’s creative economy on the global stage, the city will host the inaugural World Audio Visual Entertainment Summit (WAVES) from May 1-4, 2025. This event is expected to draw over 5,000 delegates from more than 100 countries, including heads of state, senior ministers, and entertainment industry leaders. Union Minister Vaishnaw described WAVES as “the Oscars for the world,” highlighting its potential to accelerate growth in the creators’ economy.
Fadnavis expressed confidence that hosting WAVES annually would reinforce Mumbai’s reputation as a creative powerhouse. “Maharashtra has been at the heart of creativity for over 100 years. Now we are taking it global,” he added.
The creative hub in Malad represents a unique collaboration between the state government, central government, and private stakeholders. The project aims to foster innovation while creating thousands of jobs in media and entertainment sectors. With initiatives like IICT and WAVES Summit complementing this development, Mumbai is poised to become a magnet for creators worldwide.
As part of its long-term vision for nurturing creative talent and supporting technological advancements in entertainment industries, Maharashtra has also allocated 10 acres at Film City for IICT’s permanent campus. This move underscores the state’s commitment to building robust infrastructure for digital media.
Mumbai’s transformation into a global creative hub is not just about infrastructure; it is about redefining possibilities in entertainment and creativity. With strategic partnerships between governments and industry leaders, this initiative promises to revolutionize India’s creative economy while placing Mumbai firmly on the world map.
Key Highlights:
- Maharashtra and MIB signed an MoU to develop a 240-acre creative hub in Malad aimed at transforming Mumbai into a global center for creativity.
- The Indian Institute of Creative Technologies (IICT) will focus on AVGC-XR sectors and operate initially from NFDC premises before moving to Film City.
- The WAVES Summit 2025 will host over 5,000 delegates from 100 countries, further boosting Mumbai’s status as an international entertainment capital.
- ₹391.15 crore has been allocated by the central government for IICT infrastructure development.