MUMBAI: Prime Minister Narendra Modi on Thursday said that the creative economy could increase its contribution to India's gross domestic production (GDP) in the coming years.
He was addressing a star-studded gathering including artists, creators,. policymakers and world leaders.from media and entertainment industry at the inauguration ceremony of the maiden edition of the World Audio Visual and Entertainment Summit (WAVES) in Mumbai.
"Today, in Mumbai, artists, innovators, investors, and policymakers from over 100 countries have gathered under one roof. Together, they are laying the foundation for a global ecosystem that celebrates talent, creativity, and innovation on an international scale...India is emerging as a global hub for film production, digital content, gaming, fashion, music and live concerts...This is the dawn of the Orange Economy in India," said Modi.
The PM further stated that the Summit aptly abbreviated as WAVES, is more than just a name.
"It embodies a true wave of culture, creativity, and universal connection...In a way, the foundation of a global eco-system of global talent and global creativity is being laid here today," he said.
Encouraging young creators, Modi said that screen size might be getting smaller, but the scope is becoming infinite.
Reflecting on the deep-rooted connection between creativity and human experience, Modi stated that a child's journey begins with the lullaby of a mother, their first introduction to sound and music. The PM also noted that just as a mother weaves dreams for her child, creative professionals shape the dreams of an era. He further underscored that the essence of WAVES lies in bringing together such visionary individuals who inspire and influence generations through their art.
WAVES is a four-day summit with tagline “Connecting Creators, Connecting Countries” is poised to position India as a global hub for media, entertainment, and digital innovation by bringing together creators, startups, industry leaders, and policymakers from across the world.
This newspaper first reported in July last year that the Government planned to host the global Summit on the lines of annual World Economic Forum (WEF) held in Davos to establish India as global content hub.
"In line with Prime Minister’s vision of leveraging creativity, technology, and talent to shape a brighter future, WAVES will integrate films, OTT, gaming, comics, digital media, AI, AVGC-XR, broadcasting, and emerging tech, making it a comprehensive showcase of India's media and entertainment prowess. WAVES aims to unlock a USD 50 billion market by 2029, expanding India’s footprint in the global entertainment economy" said PMO.
At WAVES 2025, India is also hosting the Global Media Dialogue (GMD) for the first time, with ministerial participation from 25 countries, marking a milestone in the country’s engagement with the global media and entertainment landscape. The Summit will also feature the WAVES Bazaar, a global e-marketplace with over 6,100 buyers, 5,200 sellers, and 2,100 projects. It aims to connect buyers and sellers locally and globally, ensuring wide-reaching networking and business opportunities.
PM is set to interact with creators, selected from the 32 Create in India Challenges launched nearly a year ago, which garnered over one lakh registrations.
WAVES 2025 will witness participation from over 90 countries, with more than 10,000 delegates, 1,000 creators, 300+ companies, and 350+ startups. The summit will feature 42 plenary sessions, 39 breakout sessions, and 32 masterclasses spanning diverse sectors including broadcasting, infotainment, AVGC-XR, films, and digital media.
