India’s M&E industry a $100 billion opportunity: Mukesh Ambani at WAVES 2025 hails it as “real power”
Mukesh Ambani, Chairman and Managing Director, Reliance Industries, hailed WAVES 2025 as a transformative global platform for India’s creative economy, highlighting its cultural power, tech integration, and $100 billion growth potential under PM Modi’s leadership.
ADVERTISEMENT
At the inaugural World Audio Visual Entertainment Summit (WAVES) in Mumbai, Reliance Industries chairman and managing director, Mukesh Ambani delivered an impassioned address, celebrating the platform as a milestone moment for India's creative economy and global influence. Speaking in the presence of Prime Minister Narendra Modi, Ambani highlighted the cultural, technological, and economic significance of the summit, while expressing solidarity over the recent terror attack in Pahalgam.
“We are truly blessed and deeply honored by your (PM Modi) presence today,” Ambani began, noting the PM’s commitment to attend the summit even amidst challenging national developments.
"Honourable PM, you have the full support of 145 crore Indians in this fight against the enemies of peace, justice and humanity. Their defeat is certain. India's victory is also certain under your leadership," Ambani said.
WAVES- A Global Platform With an Indian Soul
Ambani credited PM Modi for conceptualising and swiftly approving the WAVES, calling it a transformative initiative to position India at the heart of global creative discourse. “WAVES has to be a global hub of innovation, culture and collaboration and thereby amplifying India's voice on the world stage,” he said.
The scale of participation at WAVES— representatives from 90 countries and over 10,000 delegates— reflects this ambition. “This is the Naya Bharat. The spirit of a new India. Old in its dreams and fast in its execution. And determined to surpass global standards,” Ambani said, while also applauding Union Minister Ashwini Vaishnaw and his team for organising the summit.
Ambani positioned India’s vast storytelling tradition as both a cultural strength and a form of real power. “India's entertainment and cultural industry is not just a soft power. It is a real power,” he said, emphasising the role of stories in offering hope and unity in a divided world.
“Our stories give the hope of a better future. With their power to unite, inspire and enrich in our civilisational heritage of over 5000 years. We have vast treasure troves of timeless tales, from Ramayana and Mahabharata to folklore and classics in dozens of languages. They touch people's hearts around the world because they celebrate human values, brotherhood, compassion, courage, love, beauty, and care for nature.
No nation can match India's storytelling power. Therefore, with great confidence and creativity, let us take our stories globally to heal a divided world.”
Merging Tradition With Technology
Ambani also underlined the technological transformation reshaping India’s cultural landscape.
"Under PM Modi's visionary leadership, India has become a front-ranking digital nation. The fusion of storytelling and digital technologies is again unique to India. It has amplified the impact and the reach of entertainment and cultural experiences beyond imagination."
According to him, the tools of AI and immersive technologies can make our stories more captivating than ever before, and take them instantly to audiences across languages, countries, and cultures.
"By mastering these tools, I am confident that India's super-talented young creators will rule the global entertainment industry with blockbusters year after year."
A $100 Billion Opportunity
Beyond culture, Ambani identified the media and entertainment sector as a major economic growth engine. He mentioned that WAVES is not just a cultural or a creative opportunity, but a strategic and economic opportunity as well.
“India's media and entertainment industry is valued at about $28 billion. It can grow to over $100 billion in the next decade. This growth will drive entrepreneurship, generate millions of jobs, and create a ripple effect across all sectors.”
He concluded with a bold commitment to scaling WAVES into the world’s premier entertainment platform.
"Prime Minister Modi ji, your inspiration is our strength. Today, we solemnly assure you that we will make waves the world's foremost entertainment platform, one with an Indian soul and a global voice. By forging deep partnerships with the best minds and studios from every corner of the world, we will grow this summit year after year. WAVES will become the place of dreamers, makers and change makers.
This is just the beginning. Our best is yet to come. Let the stories flow. Let the waves rise. Thank you, Jai Hind.”
The WAVES Summit, conceived as a first-of-its-kind global gathering for the audio-visual and entertainment industry, is being hosted in Mumbai over four days. It brings together creators, policymakers, tech leaders, and media professionals from 90 countries. It also marks the launch of India’s broader push to become a global creative powerhouse, including the announcement of the ₹400 crore Indian Institute of Creative Technologies (IICT) in Mumbai.
Read More: Maha CM Devendra Fadnavis: 'India is prepared to lead the world as a creative superpower'
