Maharashtra Chief Minister Devendra Fadnavis today said that the entertainment economy is the new engine of development for the state.

Addressing the World Audio Visual & Entertainment Summit (WAVES) in Mumbai, Fadnavis said, “WAVES proudly declares that India is ready to lead the world with creative superpower.”

“PM Narendra Modi's leadership has elevated India's economic prowess. Entertainment economy is the new development engine for Maharashtra. India, along with Maharashtra, is shaping the future global storytelling,” Fadnavis said.

Fadnavis said the state government is working towards providing an impetus to the entertainment industry, with state-of-the-art global studio ecosystem and media and entertainment city.

“With a 500-acre film city now being revamped into a next-generation global studio ecosystem, and a 120-acre media and entertainment city focused on animation, visual effects, and gaming, I commit to this stage today that we will deliver on both these objectives with tangible results in the next few months,” said Fadnavis.

“The times of change don’t wait. And I would like to add to that: Here in Mumbai, we don’t just ride the waves—we create them, he added.

Earlier during the inaugural ceremony, Prime Minister Narendra Modi urged creators and investors from across the globe to make India their base for content creation. I&B Minister Ashwini Vaishnav said the world of creativity undergoing massive transformation.

“To shape this transformation, PM Modi wanted to bring the entire world on a single platform - WAVES. WAVES offers a platform to creators across the world,” Vaishnaw said.