Creative Economy Will Have a Major Share in India’s GDP – Prime Minister Narendra Modi
Grand Inauguration of World Audio Visual and Entertainment Summit 2025 (WAVES) by the Prime Minister
Vipul Vaidya
Mumbai: India’s Orange Economy stands on three strong pillars – content, creativity, and culture. In the coming years, India’s creative economy will hold a significant share in the country’s GDP. The global animation market is currently worth over $430 billion and is expected to double in the next 10 years. The WAVES summit will open new doors of success for India’s animation and graphics industry, Prime Minister Narendra Modi said on Thursday.
Prime Minister Modi inaugurated the World Audio Visual and Entertainment Summit 2025 (WAVES) in a grand ceremony held at the Jio World Convention Centre in Mumbai. The event was attended by Governor C.P. Radhakrishnan, Chief Minister Devendra Fadnavis, Union Ministers Ashwini Vaishnaw (Railways and I&B), S. Jaishankar (External Affairs), Dr. L. Murugan (MoS I&B), Deputy Chief Ministers Eknath Shinde and Ajit Pawar, and several national and international dignitaries.
Indian films have now reached audiences across the globe. Today, Indian films are screened in more than 100 countries. Foreign audiences are not just watching Indian films but also trying to understand them. A notable aspect of Indian cinema is that many international viewers are watching Indian content with subtitles. India has become a global hub for film production, digital content, gaming, fashion, and music, Modi said.
We Must Enrich Humanity Without Turning It into a Machine – PM Modi
“We must not turn humans into machines; instead, we must make them more enriched and sensitive,” the Prime Minister said. Human progress cannot be measured solely by information, technology, or speed — music, art, and dance must also be given importance. Creative individuals, through their energy and efficiency, can give new shape to a creative revolution, he said, urging creative people worldwide to make India a hub of global creativity.
Today, the world is searching for new ways to tell stories and concepts. India has a priceless treasure of stories and ideas spanning thousands of years. Modi called for spreading this treasure to every corner of the world and presenting it to future generations in new and engaging ways.
India Is Ready to Lead as a Creative Superpower – CM Devendra Fadnavis
The entertainment sector is the new engine of growth for Maharashtra and India, said Chief Minister Devendra Fadnavis. In the digital age, content travels faster than any product, and Maharashtra is at the forefront of this revolution. WAVES is not just a summit but a movement, inspired by Prime Minister Narendra Modi and taking shape in Maharashtra.
Today, digital content, music, animation, and games are being shaped at a global level. The state government is creating a conducive environment and will implement robust policies to support this transformation, he added.
Fadnavis also announced that Mumbai’s Film City, spread over 500 acres, is being developed into a global center for next-generation studio ecosystems. Of this, 120 acres will be dedicated to a media and entertainment city focused on animation, visual effects, and gaming.
Indian Institute of Creative Technology to Be Set Up in Mumbai – Union Minister Ashwini Vaishnaw
For the first time, the Indian Institute of Creative Technology (IICT) will be established in Mumbai, with a funding of ₹400 crore approved by the central government. Global giants like Google, Apple, Microsoft, and Adobe will collaborate in setting up this institute. Through WAVES, India is progressing towards becoming a global hub for the creative industry, said Ashwini Vaishnaw in his welcome address.
Actor Anupam Kher outlined the vision behind the WAVES initiative. Singers M.M. Keeravani, Shreya Ghoshal, and Mangli performed the welcome song. WAVES advisory board members including Mohanlal, Hema Malini, Kartik Aaryan, S.S. Rajamouli, Rajinikanth, Anil Kapoor, Bhumi Pednekar, Ranbir Kapoor, Aamir Khan, Reliance Industries Chairman Mukesh Ambani, and Adobe CEO Shantanu Narayen shared their thoughts during the event.
On this occasion, Prime Minister Modi also unveiled postage stamps in memory of Gurudutt, P. Bhanumathi, Raj Khosla, Ritwik Ghatak, and Salil Chowdhury for their contributions to Indian cinema.