Mumbai: India is entering an era of orange economy, or creative economy, with the country emerging as a global hub for film production, digital content, gaming, fashion, music, and live concerts, Prime Minister Narendra Modi said here on Thursday.
“India's creative economy is poised to play a significantly larger role in the country's GDP in the coming years,” Modi said while inaugurating the first edition of the World Audio Visual and Entertainment Summit (Waves), a global summit for the media and entertainment industry.
“This is the time of the dawn of the orange economy in India, with content, creativity and culture being its three pillars,” he said, adding that Indian films are now being released in over 100 countries.
More than 10,000 delegates and 1,000 creators besides over 650 companies including some 350 startups from over 90 countries are participating in the four-day Waves 2025 that concludes on May 4.
“In this moment of the orange economy, I want to say to my creators — whether you are musicians in Guwahati, podcasters in Kochi, game designers in Bengaluru, or filmmakers in Punjab — you are all driving a new wave in India's economy,” the prime minister said.
Addressing a packed auditorium attended by leading figures from the corporate and entertainment sectors, he also highlighted a major opportunity for India in the global animation market – currently valued at over $430 billion and projected to double over the next decade.
Modi also pointed to the rapid expansion of India’s OTT industry, which has grown tenfold in recent years. He noted that while screen sizes may be shrinking, the scope of content is infinite, with micro screens delivering mega messages.
The prime minister announced the upcoming launch of Waves Awards, which aim to become the most prestigious honours in the world of art and creativity.
Union information and broadcasting minister Ashwini Vaishnaw announced the launch of the Indian Institute of Creative Technology (IICT) in Mumbai at the event.
IICT, established by the I&B ministry in strategic collaboration with industry bodies Ficci and CII, is conceived as a national centre of excellence, modelled on India’s premier institutions like the IITs and IIMs.
Several leading technology companies—including Nvidia, Google, Apple, Microsoft, Meta, JioStar, and Adobe—have partnered with the institute to support course development and training programmes.
“India's creative economy is poised to play a significantly larger role in the country's GDP in the coming years,” Modi said while inaugurating the first edition of the World Audio Visual and Entertainment Summit (Waves), a global summit for the media and entertainment industry.
“This is the time of the dawn of the orange economy in India, with content, creativity and culture being its three pillars,” he said, adding that Indian films are now being released in over 100 countries.
More than 10,000 delegates and 1,000 creators besides over 650 companies including some 350 startups from over 90 countries are participating in the four-day Waves 2025 that concludes on May 4.
“In this moment of the orange economy, I want to say to my creators — whether you are musicians in Guwahati, podcasters in Kochi, game designers in Bengaluru, or filmmakers in Punjab — you are all driving a new wave in India's economy,” the prime minister said.
Addressing a packed auditorium attended by leading figures from the corporate and entertainment sectors, he also highlighted a major opportunity for India in the global animation market – currently valued at over $430 billion and projected to double over the next decade.
Modi also pointed to the rapid expansion of India’s OTT industry, which has grown tenfold in recent years. He noted that while screen sizes may be shrinking, the scope of content is infinite, with micro screens delivering mega messages.
The prime minister announced the upcoming launch of Waves Awards, which aim to become the most prestigious honours in the world of art and creativity.
Union information and broadcasting minister Ashwini Vaishnaw announced the launch of the Indian Institute of Creative Technology (IICT) in Mumbai at the event.
IICT, established by the I&B ministry in strategic collaboration with industry bodies Ficci and CII, is conceived as a national centre of excellence, modelled on India’s premier institutions like the IITs and IIMs.
Several leading technology companies—including Nvidia, Google, Apple, Microsoft, Meta, JioStar, and Adobe—have partnered with the institute to support course development and training programmes.
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