WAVES 2025: PM Modi Puts Spotlight on India’s Creative Economy Boom
PM Modi Declares India’s Creative Economy a Key Growth Engine at WAVES Summit
In a historic moment that echoed with ambition, vision, and cultural pride, Prime Minister Narendra Modi inaugurated the World Audio Visual and Entertainment Summit (WAVES) 2025 at the Jio World Convention Centre in Mumbai, declaring that India’s creative economy is set to become a powerful engine of national growth.
Addressing a global audience of over 100 dignitaries, creators, investors, and innovators, Prime Minister Modi emphasised that the “Orange Economy” of India—rooted in content, creativity, and culture—is not just a cultural renaissance, but an economic revolution in motion.
“India’s creative economy stands on three strong pillars – content, creativity, and culture. In the coming years, this sector will command a significant share of our country’s GDP,” said Modi, setting a bold tone for the summit.
Global Stage Set for India’s Storytelling Legacy
With the animation industry alone valued at over USD 430 billion globally and expected to double within a decade, Modi noted that India is well-positioned to become a global leader in storytelling through films, animation, gaming, music, and digital content.
“Today, Indian cinema is screened in over 100 countries. Our stories are crossing borders, our emotions are subtitled in dozens of languages, and our cultural identity is resonating with international audiences,” he said.
Modi reminded the audience that India’s cinematic journey began over a century ago with Raja Harishchandra, and that the spirit of storytelling continues to evolve, fueled by youthful creativity and digital reach.
A Billion People, A Billion Stories, Infinite Potential
“India is not just a land of a billion people—it’s a land of a billion-plus stories,” Modi passionately declared. He urged global creators to collaborate with India, inviting them to be part of a global creative ecosystem powered by Indian innovation, energy, and emotion.
“We are not just building a creative economy; we are crafting a creative civilization.”
Maharashtra Set to Lead India’s Creative Surge
Maharashtra Chief Minister Devendra Fadnavis, speaking at the same event, declared that the state is preparing to become the creative superpower of the future.
“The entertainment industry will be one of the biggest growth drivers for Maharashtra. We are launching a 120-acre Media and Entertainment City within Mumbai’s 500-acre Film City, dedicated to animation, VFX, and gaming,” Fadnavis announced.
He lauded WAVES 2025 as more than just a summit—it’s a movement that repositions India at the forefront of global creative leadership.
National Push: Indian Institute of Creative Technology (IICT) Announced
Union Minister Ashwini Vaishnaw made a landmark announcement during his keynote speech—the establishment of the Indian Institute of Creative Technology (IICT) in Mumbai with a central investment of ₹400 crore.
“For the first time, a dedicated institute will train and nurture creative professionals, with global partners like Apple, Google, Microsoft, and Adobe. This is our moonshot for India’s creative economy,” said Vaishnaw.
The institute will focus on animation, gaming, design, music production, and creative entrepreneurship, empowering youth to shape the next chapter of India’s digital renaissance.
Digital India, Creative India
Highlighting the power of technology in storytelling, Modi noted that although screen sizes are shrinking, their impact is magnifying. OTT platforms, short-form video, digital concerts, and gaming ecosystems have revolutionized the way content is created and consumed.
“The screen is micro, but the message is mega,” Modi remarked. “The youth of India, unburdened by baggage and borders, are unleashing their creativity across the world.”
He called upon creators to preserve and present India’s storytelling traditions in modern formats that will captivate future generations.
WAVES: A Cultural Tidal Shift
Prime Minister Modi described WAVES as more than an acronym—it is a symbol of a rising tide of culture, innovation, and collaboration. It reflects a deep cultural consciousness that seeks to enrich humanity, not just through data and speed, but through dance, music, theatre, and emotion.
“Let us not reduce humans to machines. Let us celebrate our humanity through creativity. Let us turn India’s creative economy into a global lighthouse of innovation and inspiration,” Modi said, concluding his address with thunderous applause.
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