The World Audio Visual and Entertainment Summit (WAVES 2025), held in Mumbai, has concluded on a high note, marked by significant collaborations and investments in India’s burgeoning Media & Entertainment (M&E) sector. A key highlight of the summit was the signing of Memorandums of Understanding (MoUs) worth a staggering ₹8,000 crore by the Government of Maharashtra. These agreements are poised to inject substantial growth and development into the state’s M&E ecosystem, encompassing education, film production, and infrastructure.
The MoUs were inked with a mix of international academic institutions and prominent players in the media and entertainment industry. Notably, the University of York and the University of Western Australia each signed MoUs worth ₹1,500 crore with the state government.
These partnerships are aimed at establishing world-class educational campuses in Navi Mumbai, transforming Maharashtra into a hub for quality education and potentially curbing the outflow of students seeking higher studies abroad. The City and Industrial Development Corporation (CIDCO) has reportedly earmarked 100 acres of land in Navi Mumbai to establish an “Edu-City” that will house these and potentially other foreign universities.
In a significant boost to the state’s entertainment infrastructure, the Industries Department of Maharashtra entered into MoUs with leading media and entertainment companies. Prime Focus, a global leader in visual effects and post-production services, committed to an investment of ₹3,000 crore. This collaboration is expected to establish a state-of-the-art film city, potentially equipped with advanced technologies like artificial intelligence, and generate substantial direct and indirect employment. Godrej, a diversified conglomerate, also signed an MoU worth ₹2,000 crore to develop a modern film city in Panvel, further augmenting the production capabilities within the state.
Maharashtra Chief Minister Devendra Fadnavis expressed his delight at hosting WAVES 2025 in Mumbai, acknowledging the platform it provides for showcasing talent and fostering growth in the M&E sector. He emphasized that these investments go beyond mere monetary value, possessing a significant multiplier effect that will benefit the entire state in the coming years through job creation, technological advancements, and the establishment of a robust media and entertainment ecosystem.
The four-day WAVES 2025 summit served as a crucial meeting point for industry leaders, policymakers, innovators, and creators from across the globe. The event facilitated business deals and transactions worth ₹1,328 crore through the WAVES Bazaar, highlighting the immense potential for collaboration within the creative industries. Over 3,000 B2B meetings took place, fostering partnerships across film, music, radio, VFX, and animation sectors.
The summit also witnessed the launch of the ‘WAVES Declaration’ following the Global Media Dialogue, which saw participation from 77 nations. This declaration emphasizes the importance of international collaboration in media and entertainment, promoting cultural understanding and bridging the digital divide. Furthermore, the ‘WAVEX’ start-up accelerator selected 30 promising M&E start-ups, facilitating their interaction with investors and nurturing innovation within the sector.
The MoUs signed at WAVES 2025 represent a significant step towards realizing Maharashtra’s ambition of becoming a leading hub in the global media and entertainment landscape. By attracting substantial investments in education and infrastructure, the state is laying the foundation for a vibrant and dynamic ecosystem that will benefit creators, businesses, and the economy as a whole. The focus on establishing world-class facilities and fostering international collaborations signals a clear commitment to positioning Maharashtra at the forefront of the M&E industry in the years to come.
Key Highlights:
- The Government of Maharashtra signed MoUs worth ₹8,000 crore at WAVES 2025 to boost the state’s Media & Entertainment (M&E) sector.
- ₹3,000 crore is earmarked for a film city by Prime Focus, and ₹2,000 crore for another film city by Godrej in Panvel.
- The University of York and the University of Western Australia will invest ₹1,500 crore each to establish educational campuses in Navi Mumbai.
- WAVES 2025 also saw business deals worth ₹1,328 crore and the ‘WAVES Declaration’ promoting international collaboration in the M&E industry.