Mumbai: The Indian government has announced a $1 billion fund to strengthen the creator economy, Minister of Information and Broadcasting Ashwini Vaishnaw revealed at a press conference during WAVES 2025. The fund, aimed at empowering content creators, digital innovators, and creative professionals, will be rolled out through a public-private partnership, with further details to be disclosed in the coming days.
“This will ensure that our energetic creators have access to the latest technologies, capital, and platforms to showcase their skills, enhance productivity, and expand their global reach,” said Vaishnaw.
As part of this initiative, the Union Cabinet has also approved the establishment of the Indian Institute of Creative Technologies (IICT), which will provide world-class education and training in media, entertainment, animation, gaming, and digital content creation.
Similar to IIMs and IITs, the IICT will offer specialized courses, fostering technological innovation and creative entrepreneurship. The first institute is set to be launched in Mumbai, with an initial budget allocation of ₹391 crore for infrastructure and academic development.
The WAVES 2025 Summit, scheduled for May 1 – May 4, 2025, in Mumbai, will serve as a global platform to showcase India’s creative economy. It will spotlight advancements in animation, gaming, entertainment technology, and both regional and mainstream cinema, positioning India as a content creation powerhouse.
Elaborating on the summit, Vaishnaw stated, “The Prime Minister’s vision for WAVES 2025 is to uplift content creators using technology, providing them with a world-class platform to showcase their skills and scale their impact globally.”
When asked about the brand ambassador for WAVES 2025, Vaishnaw remarked, “With 140 crore Indians, we already have the most powerful brand ambassadors for this initiative.”
The planning and execution of WAVES 2025 are being overseen by an advisory board comprising 34 media industry veterans, ensuring a strategic roadmap for India’s creative ecosystem.
In preparation for WAVES 2025, the Ministry of Information and Broadcasting had earlier launched the ‘Create in India Challenge’, an initiative designed to foster creativity and innovation. This challenge aims to position India as a global leader in media and entertainment, nurturing homegrown talent while attracting global collaborations.
With these initiatives, India is taking a bold step towards cementing its status as a creative and digital powerhouse, driving economic growth, job creation, and innovation in the global entertainment and content landscape.
