India stands at the cusp of a creative revolution. With the launch of WAVES 2025, Prime Minister Narendra Modi has unveiled a bold vision to harness the Orange Economy—centered on content, creativity, and culture—as a core driver of India’s economic growth and global leadership. Positioned as a landmark initiative, WAVES 2025 Orange Economy is set to empower creators, attract global investment, and propel India onto the world stage as a hub of innovation in media, entertainment, and digital storytelling.
Understanding the Orange Economy
The Orange Economy, encompassing sectors like film, music, gaming, design, and digital content, represents the confluence of culture and commerce. PM Modi emphasized that this sector is not just about entertainment; it’s a significant contributor to economic growth, job creation, and cultural diplomacy.
WAVES 2025: A Global Confluence
Held at the Jio World Convention Centre in Mumbai, WAVES 2025 brought together over 10,000 delegates from more than 90 countries, including creators, investors, policymakers, and technologists. The summit featured 42 plenary sessions, 39 breakout discussions, and 32 masterclasses, covering a spectrum of topics from OTT platforms to immersive storytelling. (MEA India)
Key Initiatives and Announcements
1. Indian Institute of Creative Technology (IICT)
PM Modi announced the establishment of the IICT in Mumbai, allocating ₹400 crore for its development. The institute aims to be a national hub for animation, visual effects, gaming, comics, and extended reality (AVGC-XR), fostering innovation and skill development in the creative sector.
2. WAVES Bazaar
A global e-marketplace, WAVES Bazaar connects over 6,100 buyers with 5,200 sellers, facilitating 2,100 creative projects. This platform aims to bridge the gap between Indian creators and global markets, enhancing visibility and collaboration.
3. Global Media Dialogue (GMD)
For the first time, India hosted the GMD, with ministerial participation from 25 countries. This dialogue focused on fostering cross-border collaborations in media and entertainment, positioning India as a central player in global creative discourse.
Economic Implications
The creative economy is poised to significantly boost India’s GDP. With the global animation market valued at over $430 billion and expected to double in the next decade, India’s focus on sectors like AVGC-XR positions it to capture a substantial share of this growth. Industrialist Mukesh Ambani projected that India’s media and entertainment industry, currently valued at $28 billion, could grow to over $100 billion within the next decade, driven by initiatives like WAVES 2025.
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Cultural Diplomacy and Global Influence
PM Modi highlighted India’s rich storytelling heritage, from ancient epics to contemporary cinema, as a means to enhance global cultural influence. He cited examples like the international success of Indian films and the global recognition of artists like A.R. Rahman and S.S. Rajamouli.
The Prime Minister also emphasized the role of technology in amplifying India’s creative voice, urging creators to harness digital platforms to share India’s stories with the world.
Empowering the Youth
Recognizing the potential of India’s youth, PM Modi launched the “Create in India Challenge,” encouraging young creators to innovate and contribute to the Orange Economy. This initiative aims to nurture talent and provide platforms for global exposure.
Conclusion
WAVES 2025 marks a significant milestone in India’s journey towards becoming a global creative powerhouse. By investing in infrastructure, fostering international collaborations, and empowering its youth, India is poised to lead the Orange Economy, blending tradition with innovation to shape a vibrant and inclusive creative future.