Context:
Recently, India concluded its first World Audio Visual Entertainment Summit (WAVES) 2025 at the Jio World Convention Centre in Mumbai. The summit witnessed participation from over 90 countries, with more than ten thousand delegates.
More on the News
- WAVES 2025 was Inaugurated by the Prime Minister of India on 4th May 2025.
- The Prime Minister of India declared WAVES as the dawn of India’s Orange Economy.
- WAVES 2025, acted as a platform for high-level exchange of ideas, skills, and sectoral insights.
- The maiden edition of WAVES will be known for the high impact knowledge sessions and the discourse covering a broad spectrum of topics, including Broadcasting and Infotainment, AVGC-XR, Digital Media, and Films.
- The Plenary session of the summit discussed evolving trends in the entertainment industry, advertising, branding, Digital transformation and AI.
World Audio Visual Entertainment Summit (WAVES)
It is a key forum for promoting collaboration, innovation, and discussions among various stakeholders in the Media and Entertainment (M&E) industry.
It aims to propel India’s Media & Entertainment (M&E) industry to even greater heights.
Key Pillars of the WAVES
- Broadcasting & Infotainment
- Digital Media & Innovation
- AVGC-XR (Augmented Reality/ Virtual Reality-Metaverse & Extended Reality
- Films.
Key highlights of the World Audio Visual Entertainment Summit (WAVES) 2025:
The Global Media Dialogue 2025
This landmark event was attended by 77 countries in Mumbai during the World Audio Visual and Entertainment Summit (WAVES 2025).
The member nations of the dialogue collectively adopted the ‘WAVES Declaration’:
- It is a 13-point Global Media Dialogue Declaration (WAVES Declaration) is committed to preserving cultural heritage and promoting creative collaboration in the digital age.
Indian Institute of Creative Technology: A National Centre of Excellence
- It a National Centre of Excellence being set up in Mumbai, poised to be a milestone in capacity building for Creative Economy.
- Dedicated exclusively to the AVGC-XR sector, the establishment of the Institute was formalized on Day-3 of WAVES 2025.
- IICT is on track to evolve into a premier institution in its field, much like how IITs and IIMs have become benchmarks in technology and management education.
WAVES Bazaar
- The inaugural edition of WAVES Bazaar, organized under the umbrella of WAVES, was a resounding success as it has established itself as a premier platform for international business collaboration in the creative industries.
- The marketplace recorded business deals or transactions worth Rs. 1328 crores across the film, music, radio, VFX, and animation sectors.
- The other milestones include the announcement of the film ‘Devi Chowdhurani,’ which became the India’s first official Indo-UK co-production
WAVES Start-Up Accelerator (WAVEX)
- WAVEX has chosen 30 promising media and entertainment start-ups to present their ideas to 45 prominent investors, potentially attracting investments totalling ₹50 crore.
- WAVEX is dedicated to creating a specialized investment ecosystem that includes incubators, mentors, and angel networks to support early-stage innovations in media.
The 8th National Community Radio Sammelan
- The Sammelan celebrated the achievements of 12 outstanding Community Radio (CR) stations with National Awards.
- The event, which saw participation from over 400 stations, promoted collaboration and dialogue within the community media sector.
- The conference reaffirmed the government’s commitment to strengthening India’s 531-strong CR network through innovation and inclusivity.
Key Knowledge Reports Released at WAVES 2025
| Report Title | Prepared By | Key Highlights |
| Statistical Handbook on Media & Entertainment 2024-25 | Ministry of Information & Broadcasting | Data-driven insights on broadcasting, digital media, film certifications, and public media services; vital for policymaking. |
| From Content to Commerce | Boston Consulting Group (BCG) | India has 2–2.5 million active digital creators; they influence $350B+ annual spending, projected to cross $1T by 2030; calls for long-term brand-creator partnerships. |
| A Studio Called India | Ernst & Young (EY) | India’s potential as a global content hub; highlights 40–60% cost advantage in VFX/animation; rising global demand for Indian OTT content. |
| Legal Currents | Khaitan & Co. | Addresses legal and compliance issues in influencer marketing and media law. |
| Live Events Industry Report | (White Paper Release) | Projects 15% growth in live events; calls for better infrastructure and simplified licensing norms. |