Modi Inaugurates WAVES 2025, Envisions India's Creative Economy Growth
PM Modi launches WAVES 2025 in Mumbai, pledging Rs 400 Cr for India's creative sector and its growth in animation, gaming, and digital media.
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Prime Minister Narendra Modi outlined a vision for India's creative sector while inaugurating the World Audio Visual Entertainment Summit (WAVES 2025) on Thursday in Mumbai.
Modi said India must build an "Orange Economy" of content, culture and creativity that can drive the country toward the third-largest economy worldwide. He warned that technological advances in creative industries risk eroding human emotion and urged industry leaders to preserve depth in music, dance and visual arts.
"Progress must include the arts as much as information or technology," Modi said. "We cannot turn humans into robots; we must make expression more sensitive."
Noting that Indian films now screen in more than 100 countries, he said global audiences are engaging with subtitled content and that India has become a hub for film production, digital media, gaming, fashion and music.
Modi pledged Rs 400 crore to establish the Indian Institute of Creative Technology (IICT) in Mumbai. The institute will serve as a national centre for animation, visual effects, gaming, comics and extended reality (AVGC-XR).
Industry minister Ashwini Vaishnav said IICT has already partnered with technology firms including NVIDIA, Google, Apple, Microsoft, Meta, Star India and Adobe to develop course offerings.
He added that India's creative economy will contribute a significant share to GDP as the global animation market doubles its -$430 billion valuation in the next decade.
Reliance Industries Chairman Mukesh Ambani said India's media and entertainment industry could expand from its current -$28 billion value to -$100 billion over the next ten years, generating new jobs and investment.
Ambani praised the government's swift response to the recent security incident in Pahalgam and affirmed confidence in national resilience.
Maharashtra Chief Minister Devendra Fadnavis said Mumbai's Film City, covering 500 acres, will include a 120-acre media and entertainment district focused on animation, visual effects and gaming.
The IICT will be set up by the Information and Broadcasting Ministry in collaboration with industry bodies FICCI and CII, modeling it after national institutes of technology and management.
More than 1,000 delegates from over 100 countries attended the summit. Bollywood and regional film stars joined industry executives at the opening ceremony, where Modi also unveiled commemorative postage stamps honoring filmmakers Gurudutt, P. Bhanumathi, Raj Khosla, Ritwik Ghatak and composer Salil Chowdhury.
Singer M.M. Keeravani and vocalists Shreya Ghoshal and Mangli performed during the event. Advisory board members for WAVES, including Shah Rukh Khan, Nagarjuna, Mohanlal, Hema Malini, Kartik Aaryan, S.S. Rajamouli, Rajinikanth, Anil Kapoor, Bhumi Pednekar, Ranbir Kapoor, Aamir Khan and Adobe CEO Shantanu Narayen, shared perspectives on India's creative future.
