Union Minister of Information and Broadcasting Ashwini Vaishnaw on Saturday said the world of creators and their economy is going through a fundamental change. He mentioned that the creator’s economy is growing exponentially. He said this while interacting with the news media ahead of the maiden World Audio Visual and Entertainment Summit scheduled in Mumbai from May 1 to May 4. The Minister said that our visionary Prime Minister acknowledged the work of the creators and their contribution in the economy by promoting India’s soft power globally. WAVES seeks to evolve itself as a global platform for media and entertainment, just as Davos serves as a global platform for economic policies, he added. .
Talking on the challenges faced, the Union Minister said that with the advent of technology, the old model is giving way to the new model, creating opportunities as well as challenges. Citing an example, Vaishnaw said that gone are the days when a big studio was needed for creating content as today a creator from a remote village from Jharkhand or Kerala can create good quality and get millions of views.
India’s creative economy has received an overwhelming boost, with more than one lakh registrations for WAVES 2025. The top innovators will be honoured with Awards, celebrating their contributions to the evolving global media and entertainment landscape. Vaishnaw said, we are finding a way to connect the world with our creators. WAVES is emerging as a global connector between creators, buyers, and markets for scalable creative solutions, the Minister said. Through WAVES, buyers and sellers are getting a platform, where creators can offer their content and firms can source quality creative work.
Secretary, MIB Sanjay Jaju welcomed all the participants and dignitaries, highlighting the significance of collective dialogue in shaping the future of the media landscape. He emphasised the Ministry’s commitment to engaging with stakeholders across platforms and appreciated the active participation of media organisations in the lead-up to WAVES 2025.