Mumbai: India, with its billion-plus population, is a land of a billion-plus stories, each a vibrant thread in a cultural tapestry that stretches from the ancient epics to modern global blockbusters. Amplifying these stories, grounded in a cinematic history that began with Dadasaheb Phalke’s Raja Harishchandra in 1913 and now streams to 500 million OTT users, India is not just a storyteller but a global creative force, weaving its heritage into the future of entertainment. The World Audio Visual and Entertainment Summit (WAVES) 2025, a four-day event unfolding from May 1-4 at the Jio World Convention Centre in Mumbai, stands as a vibrant testament to this ascent. Organized by the Indian Ministry of Information and Broadcasting, the summit attracts over 10,000 delegates, including 1,000 creators, 300 companies, and participants from more than 90 countries, cementing India’s role as a powerhouse in media and entertainment.
Inaugurating the summit, Prime Minister Narendra Modi heralded the dawn of the 'Orange Economy,' spotlighting India’s emergence as a dynamic hub for film production, digital content, gaming, fashion, music, and live concerts. “WAVES is a wave of culture, creativity, and universal connect,” he said. “It highlights India's creative strengths on a global platform. Right from the first moment, the Summit is roaring with purpose.” PM Modi’s vision resonates deeply, as he urged creators to “dream big and tell your story,” investors to “invest not just in platforms, but in people,” and Indian youth to share their “one billion untold stories” with the world. Noting the transformative growth of India’s digital landscape, he observed, “In India, 10x growth has been witnessed in the OTT. Screen size may be getting small, but the scope is infinite. The screen is getting micro, but the message is mega!”
Yet, the Indian entertainment industry navigates a complex landscape of challenges, from shifting consumer behaviors and piracy to economic pressures and the rise of digital platforms. These hurdles have disrupted theatrical releases, traditional media, and content creation, but they also open doors to digital media and innovative entertainment formats. The Orange Economy, as endorsed by PM Modi, aligns flawlessly with this transformative moment, turning challenges into opportunities. WAVES 2025 serves as a catalyst, fostering innovation and positioning India as a leader in emerging domains like AVGC-XR (Animation, Visual Effects, Gaming, Comics, and Extended Reality). High-profile panel discussions featuring luminaries like Shah Rukh Khan, Rajinikanth, and SS Rajamouli explore the globalization of Indian media, the disruptive potential of AI and the Metaverse, and the growth of AVGC-XR, while events like the Animation Filmmakers Competition and rumors of a reveal for Ranbir Kapoor’s Ramayana add a cinematic spark.
India’s creative economy, currently valued at USD 28 billion, eyes an ambitious USD 100 billion target within a decade, fueled by its 22 official languages, 1,600 dialects, and a storytelling legacy that spans Baahubali to RRR. Producing over 1,800 films annually across 40 languages, India captivates global audiences through Bollywood, Tollywood, and beyond. WAVES 2025 is not just a celebration of this potential but a strategic platform to harness the evolving entertainment ecosystem, weaving India’s cultural heritage into the global creative future. As PM Modi noted, “In the very first edition, the WAVES attracted the attention of the world.” As the summit draws to a close, it leaves an indelible mark, signaling that India’s Orange Economy is not merely a vision but a vibrant reality, ready to script the next chapter of global entertainment with its boundless creativity and cultural richness.
BI Bureau
