On May 1, 2025, Prime Minister Narendra Modi inaugurated the WAVES 2025 Summit in Mumbai, highlighting India’s emerging leadership in the ‘orange economy’.

• WAVES 2025 covered diverse sectors: Films, TV, Radio, Broadcasting, Animation, Gaming, Comics, Advertising, and emerging technologies such as Generative AI, AR/VR/XR, and digital media platforms.
• Launch of WAVES Bazaar: WAVES Bazaar is a global e-marketplace launched to connect Indian content creators with international markets, enabling project pitching, funding access, and global collaboration.
• Funds for Creators Economy: Ahead of the Summit, the Centre last month announced a $1 billion fund to give a boost to India’s emerging creator economy.

About the WAVES Summit

• WAVES (World Audio Visual & Entertainment Summit) is a global platform organized by the Government of India to promote innovation, regulation, and investment in the media and entertainment sector.
• Nodal MInistry: Ministry of Information and Broadcasting.
• Tag line for WAVES 2025: “Connecting Creators, Connecting Countries”
• Aim: To position India as a global hub for intellectual property (IP) creation, media innovation, and cultural exchange.
• WAVES strengthens India’s soft power by projecting its rich cultural heritage and creative capabilities on the international stage.
  

What is the Orange Economy?

• The Orange Economy, also called the creative economy, refers to economic activities driven by culture, creativity, and intellectual property (IP).
• It includes fields such as art, music, cinema, design, software, fashion, gaming, and digital media.
• Globally, the orange economy is recognized as a major employment generator and a source of inclusive growth in the knowledge economy.
• As digital consumption increases, creative industries are playing a central role in shaping narratives and influencing societies.
  

India’s Potential in the Orange Economy

• Rising Consumption of Indian Content: There is a growing global appetite for Indian films, web series, and music, now consumed widely with subtitles across the world.
  • The Prime Minister encouraged a shift from “Make in India” to “Create in India, Create for the World.”
• Employment and Economic Value: The Indian media and entertainment sector is currently valued at $28 billion, and is projected to reach $44.2 billion by 2028.
  • The creative economy employs around 8% of India’s workforce, making it a major contributor to the national economy.
• Supportive Policy: The Indian government is actively supporting the creative sector through IP reforms, anti-piracy initiatives, and global partnerships.
  • Apart from Funding for Creator’s Economy, the Government also sanctioned Rs 391 crore for establishing the Indian Institute of Creative Technology (IICT).
• Cultural Ecosystem: India’s 2,000-year-old artistic legacy such as Bharata Muni’s Natya Shastra which continues to inspire new generations of content creators.
• Soft Power and Global Influence: India’s creative talent from Raj Kapoor and Satyajit Ray to A.R. Rahman and S.S. Rajamouli in recent times have earned global acclaim, strengthening India’s cultural diplomacy.
  • Events like WAVES provide platforms to export Indian values, narratives, and artistic diversity to the world.
    

Conclusion

The WAVES 2025 Summit signals a strategic move to integrate India’s cultural heritage, creative talent, and digital innovation into its global economic vision. It aligns with India’s ambition to become a cultural superpower, and promotes sustainable, inclusive growth through the creative economy.