At WAVES 2025, PM Modi says India’s creator economy will power the next wave of GDP growth

Prime Minister Narendra Modi on Thursday said India’s orange economy boom can increase the creative economy’s contribution to the country’s GDP in the times to come. PM Modi said this in his address at the WAVES Summit 2025.

The orange economy, or creative economy, refers to industries around creativity, including fields such as art, music, film, design, fashion, cultural tourism, and digital content production, among others.

The prime minister said the reach of Indian films has increased to various corners of the world. “Today is May 1. 112 years ago, India's first film, Raja Harishchandra, was released. Indian cinema has taken India to different nooks and corners of the country in the last century,” the prime minister said.

India’s OTT industry has seen 10X growth over the past several years, said PM Modi. “While screen size is becoming shorter but growth is infinite. India’s creative economy can increase its contribution to GDP in the coming years,” Modi said.

“Today, India is becoming a hub of film production, digital content, gaming and fashion. Global animation market size is $430 billion. Estimates are that it will double over the next 10 years. This is an opportunity for the animation and graphic industry,” the prime minister said.

“I want to assure creators outside India that they will feel a natural connect with India. This is the evolution of the orange economy in India. Foreign audience is trying to understand the Indian movies rather than only watching,” said PM Modi.

“In this Orange economy boom, I would like to tell all young creators that they are bringing a new wave into the economy. We are committed to helping you realise your dreams. We are ensuring an environment that values your dreams. I have full faith in content creators,” said the prime minister. “Right from the first moment, the Summit is roaring with purpose,” he added.

“The foundation of local talent and global creativity is being set up in India. It’s a wave of culture, creativity and universal connect,” the prime minister said.

In Mumbai, artists, innovators, policy makers of more than 100 nations have congregated today for WAVES Summit 2025. “WAVES is a global platform that belongs to every artist and every creator,” said Modi.

“Whenever I met people from the creative world, the issue of a global collaboration came up. In the first edition, WAVES has attracted the attention of the globe. WAVES will see beautiful waves in the future. WAVES awards will also be launched in the future. It will be the most prestigious award in the field of arts and creativity,” said Modi.

Prime Minister Modi said that India is racing to become the third-largest economy. “India is number 1 in the global fintech adoption rate. India is the second-largest mobile phone manufacturer in the world. India has the third-largest startup ecosystem. The 'Viksit Bharat' journey has just started. India is a country of billion-plus people and billion-plus stories,” he said. “This is the right time to create in India and create for the world.”

Meanwhile, Reliance Industries chairman Mukesh Ambani said Prime Minister Modi’s vision is fuelling India’s creative rise on global stage “My heart is filled with immense pride and gratitude to the grand celebration of creativity and power of ideas at WAVES Summit 2025. We know our PM's extraordinary responsibilities in the wake of the Pahalgam incident. Your coming here conveys a strong message. We offer heartfelt condolences to the victims. You have full support of 140 billion people in your fight against terror,” Ambani said.

Meanwhile, Maharashtra Chief Minister Devendra Fadnavis said that India is ready to lead the world with creative super power. “PM Modi's leadership has elevated India's economic prowess. Entertainment economy is the new development engine for Maharashtra and India. Maharashtra is shaping the future global story telling,” said Fadnavis.

At WAVES 2025, noted filmmaker S S Rajamouli said, “Storytelling is in our DNA. On international stage we are not at par with US, China, South Korea. What we lack is a launch pad. I sincerely hope WAVES is that platform,” said Rajamouli.