In his opening remarks at the first-ever World Audio Visual Entertainment Summit (WAVES) on May 1, Union Minister Ashwini Vaishnaw extended a warm welcome to industry leaders, creators, and media professionals from across the globe.
“From all around the world, industry leaders, creators and friends from the media — I welcome you all to the first World Audiovisual Entertainment Summit. And to begin with, a very Happy Maharashtra Day to all,” Vaishnaw said as he kicked off the four-day summit, in Mumbai.
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Speaking about the rapid evolution of the creative industry, Vaishnaw, Minister for Railways, Information and Broadcasting, Electronics and Information Technology, emphasised the role of technology in democratising content creation and reshaping how audiences consume media.
“The world of creativity is undergoing a profound transformation. Technology has democratised the creative industry. The way content is created is changing. The medium of consuming content is also changing,” he said.
The WAVES, he added, was the brainchild of Prime Minister Narendra Modi, who envisioned a global platform to bring together the creative ecosystem under one roof.
With participation from over 75 countries, WAVES has attracted policymakers, creators, producers, and investors to explore new business models, technologies, and collaborations. The event will host nearly 100 sessions in different formats, including the Global Media Dialogue, a key forum that aims to replicate India’s G20 success in building consensus on international media issues.
“WAVES is meant to offer a platform for creators from around the world. It will provide exposure to new technologies. It will connect creators with investors, producers and buyers. This will create new economic opportunities,” he added.
One of the highlights of the Summit is the ‘Create in India’ challenge, which received an overwhelming response. Vaishnaw revealed that more than 3.5 million people engaged with the campaign, and over 1 lakh creators from 60 countries actively participated in the competitions spread across 32 streams.
“Industry estimates show that India is home to 40 plus million creators… about 1 lakh creators actually participated in the competitions and these were from 60 countries,” he said.
To harness and nurture this talent, the Prime Minister has approved the establishment of the Indian Institute of Creative Technologies (IICT) in Mumbai. The centre will be modelled after India’s IITs and IIMs and aims to become a global leader in creator technologies.
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“The first Indian Institute of Creative Technologies will be established here in Mumbai. Prime Minister has already allocated Rs 400 crore for it and the Government of Maharashtra has given land for it,” Vaishnaw announced.
In a strong show of industry backing, leading global technology companies—Nvidia, Google, Apple, Microsoft, Adobe—will collaborate to build the IICT into a world-class institution that equips young creators with the skills and tools for the future, the Union Minister added.
Reaffirming Mumbai’s legacy as India’s creative capital, Vaishnaw called the city the “natural host” for WAVES and said the summit and IICT would reinforce its role in the global media landscape.
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“Mumbai has always been the city of dreams. So, Mumbai is the natural host for WAVES. WAVES platform and IICT will further strengthen Mumbai’s role as a key centre in the global creative ecosystem,” he said.
It is to be noted that the Ministry of Information and Broadcasting (I&B) and the Maharashtra government recently unveiled plans to develop a massive global creative centre on a 240-acre land parcel in Malad, Mumbai. This ambitious project follows the announcement of the Indian Institute of Creative Technologies (IICT) at Dadasaheb Phalke Film City in Goregaon, aimed at nurturing talent in the burgeoning Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sectors. The Union Minister recently also announced a $1 billion fund to boost the India creators’ economy.
As the summit unfolds over the next few days, it is expected to set the stage for policy discussions, new partnerships, and a unified push to make India a global powerhouse in the audio-visual and entertainment sectors.