Govt announces 1 billion dollar fund for creators’ economy, ahead of WAVES 2025

By  News On Air   Mar 14, 2025

Union Information and Broadcasting Minister Ashwini Vaishnaw has announced a 1 billion-dollar fund for the creator’s economy as part of the World Audio-Visual and Entertainment Summit (WAVES) 2025. 

He said, the event to be held in Mumbai from May 1 to 4, will give creators community a platform to create high value content. Mr. Vaishnaw was speaking at a high-level session on WAVES 2025 organised in New Delhi yesterday. 

The session, organised by the Ministry of Information and Broadcasting, sought to engage the international community ahead of the WAVES 2025. 

Mr. Vaishnaw also informed that the first Indian Institute of Creative Technology (IICT) will be established near Film City in Goregaon, Mumbai.

Speaking on the occasion, External Affairs Minister S Jaishankar said WAVES will serve as a pivotal platform for fostering discussions, collaboration, and innovation in the media and entertainment industry. 

He noted that the event will unite industry leaders, stakeholders, and innovators to explore opportunities, address challenges, and shape the future of the sector.