WAVES 2025 kicks off in Mumbai, showcasing India’s rising creative economy
The four-day WAVES 2025 (World Audio Visual and Entertainment Summit) officially opened today at the stunning Jio World Convention Centre in Mumbai. This marks the first time India is hosting the global summit for the audiovisual and entertainment industry, and the choice of venue is no coincidence: Mumbai is the heart of Bollywood, and India is the world’s leading film producer. With a population of 22 million, the bustling metropolis provided a fitting backdrop for this attention-grabbing global event.
WAVES 2025 in Mumbai
The opening ceremony featured renowned Bollywood actors and performers wowing the hundreds-strong audience with vibrant music and dance numbers. The summit includes 42 plenary sessions, 39 themed panels, and 32 masterclasses, covering areas such as AVGC-XR technologies, infotainment, digital media, and the film industry. More than 10,000 attendees, 1,000 creators, 300 companies, and 350 startups are participating. Distinguished guests included Maharashtra Governor Shri C. P. Radhakrishnan, Chief Minister Shri Devendra Fadnavis, and politician Dr. L. Murugan.
During the ceremony, Ashwini Vaishnaw, India’s Minister of Railways, Communications, and IT, highlighted India’s dynamic media landscape: 800 radio stations, over 1,000 TV channels, and 20,000 online news portals, powered by approximately 40 million content creators. He announced the establishment of India’s first Creative Technology Institute in Mumbai. With a budget of INR 400 billion (approximately USD 4.8 billion), the institute will receive support from tech giants like Google, Meta, Microsoft, Apple, Adobe, and NVIDIA. The facility will offer training in animation, video games, visual effects, and extended reality to nurture the next generation of creative professionals.
Mukesh Ambani, head of Reliance Industries and one of the world’s wealthiest individuals, described the summit as a strategic opportunity. He noted that India’s USD 28 billion media market could expand to USD 100 billion within a decade. Ambani emphasised the importance of artificial intelligence and immersive technologies in crafting a new era of storytelling, stating that India’s cultural industry serves not only as a soft power but also as a true economic and social engine.
Several speakers took a moment to remember the victims of the 22 April 2025 terrorist attack in Indian-controlled Kashmir. In the popular tourist town of Pahalgam, armed assailants affiliated with The Resistance Front (TRF)—a local wing of the Pakistani terrorist group Lashkar-e-Taiba (LeT)—launched an assault on civilians. About 1,000 tourists were in the area during the attack, which claimed 26 lives, including 25 Indian and one Nepalese citizen, and left dozens wounded. This marked the deadliest civilian attack in the region in recent years. The tragedy resonated even more deeply in Mumbai, which still remembers the 2008 attack by a 10-member Pakistani terrorist unit that left 166 dead after a 60-hour siege.
Prime Minister Modi’s address
The summit’s highlight was a keynote speech by Prime Minister Narendra Modi, who emphasised the role of India’s so-called “orange economy” — its creative economy — in national development. He described the world’s most populous country not merely as a market for stories but as a central force in global storytelling. Addressing filmmakers, business leaders, and policymakers from more than 100 countries, he declared:
“India is just beginning to rise.”
He also spoke on India’s economic growth, noting that the country, now at the forefront of global fintech, ranks second in mobile manufacturing and third in startup ecosystems. “More than a billion people. More than a billion stories. India is becoming a true content superpower,” Modi said.
Modi also unveiled the WAVES Awards, which could become one of the world’s most prestigious creative honours. He inspired creators worldwide to dream big and share their stories:
“To the creators of the world: dream big and share your stories!
To investors: invest not only in platforms but in people!
To Indian youth: tell the world your billion untold stories!”
In his speech, Modi honoured India’s over 100-year film legacy, referencing the nation’s first feature film, *Raja Harishchandra*, released in 1913, and paying tribute to legendary filmmakers such as Raj Kapoor, Satyajit Ray, and S.S. Rajamouli.
One of the speech’s most emotional moments came as the Prime Minister drew parallels between creativity and the human experience: “A child’s first musical experience is their mother’s lullaby. Just like that, artists weave dreams for an entire generation.” He urged creative responsibility: “We must not raise robots but people who are sensitive, compassionate, and culturally enriched.”
At WAVES 2025, Modi stressed the importance of “creative responsibility” and the need to protect young people from inhumane ideologies. “Now is the time for ‘Create in India, Create for the World,’” he said. He concluded by highlighting not just the content but the medium: “Screens are getting smaller, but messages are becoming more impactful. Indian stories are timeless, thought-provoking, and global.”
Given the summit’s international relevance, Hungary is being represented at WAVES 2025 by Alpár Kató, owner of the news websites Daily News Hungary and Helló Magyar, at the invitation of the Indian Embassy. During the event, Kató is conducting several professional meetings with key players in Indian media and tourism.
Read here for more news about relations between India and Hungary
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