WAVES Summit 2025

GS 3 – ECONOMY

Context:

The PM inaugurated India’s first World Audio Visual & Entertainment Summit (WAVES) 2025 at the Jio World Convention Centre in Mumbai. This government-led global platform aims to promote the Media & Entertainment (M&E) sector and the Creative Economy.

Theme:

Connecting Creators, Connecting Countries.

Participants:

Over 100 leading global companies, including Netflix, Amazon, Meta, Sony, and Google.

Key Objectives:

• Elevate India’s M&E sector to achieve a $50 billion industry by 2029.
• Foster global collaboration, digital innovation, and cultural exports.
• Support the Orange Economy (content, culture, creativity) as a significant driver of GDP and soft power.

Major Launches and Initiatives:

• Indian Institute of Creative Technology: This initiative focuses on skilling youth in media, gaming, animation, and content creation.
• WAVES Bazaar: A global platform for creators to pitch their ideas and connect with industry players.
• WAVEX Accelerator: Supports startups in the AVGC-XR (Animation, VFX, Gaming, Comics, Extended Reality) sectors.
• FAU-G: Domination: A made-in-India multiplayer game.
• MP Film Tourism Policy 2025: Aimed at attracting filmmakers and boosting the regional economy through film tourism.