SEOUL, May 07 (AJP) - India’s first World Audio Visual and Entertainment Summit (WAVES 2025) closed on May 4 in Mumbai, marking a significant moment in the country’s bid to position itself as a global creative powerhouse.
Spanning four days at the Jio World Convention Centre, the event brought together key players from across the media and entertainment spectrum -- from industry veterans and tech innovators to policymakers, investors, and emerging creators. With packed halls, dynamic panels, and a broad range of topics from film and digital content to gaming and fashion, the summit drew wide attention.
The event opened with Prime Minister Narendra Modi delivering the inaugural address. "WAVES is not just an acronym," he said. "It is a wave of culture, creativity, and universal connectivity." Modi urged Indian creators to share their “one billion untold stories” with the world and invited global investors to back not only platforms but also people. Declaring the start of India’s Orange Economy, he called on the youth to lead this creative movement.
Throughout the summit, more than 140 sessions unfolded across multiple venues, featuring over 100 speakers, including Ted Sarandos, Neal Mohan, Mukesh Ambani, Nita Ambani, and Shantanu Narayen. Attendees also took part in 40 masterclasses and 55 breakout discussions on subjects ranging from artificial intelligence and OTT platforms to comics, animation, and virtual production. Representatives from Meta, Google, Amazon, Netflix, NVIDIA, and others were in attendance.
A major business highlight was the WAVES Bazaar, where deals totaling 1,328 crore rupees ($156,965) were inked. Among them was a new content partnership between Prime Video and Korea’s CJ ENM. The Maharashtra government also signed memoranda of understanding (MoUs) worth 8,000 crore rupees aimed at boosting investment in the creative sector.
The Global Media Dialogue, another key component of the summit, saw representatives from 77 countries adopt the “WAVES Declaration,” a joint commitment to bridging the digital divide and promoting peace through media. Speaking at the forum, India’s External Affairs Minister S. Jaishankar emphasized the need to balance tradition with innovation and to invest in skill development for the younger generation.
Startups were also highlighted. WAVEX, a dedicated accelerator, selected 30 early-stage companies to pitch to a group of investors. Over 100 more exhibited their projects in a dedicated startup pavilion, drawing attention from both angel investors and larger media companies.
South Korea played a notable role in the program. Kang Sung Kyu, CEO of the Busan Film Commission, joined as a panelist and discussed the ongoing recovery of traditional filmmaking following the pandemic. He emphasized the importance of transparent financial practices and support for cultural diversity to help the sector regain momentum.
reporter
Park Sae-jin
swatchsjp@ajunews.com
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