Maharashtra CM Devendra Fadnavis announces WAVES Index launch; ₹8,000 cr MoUs signed at summit

Maharashtra Chief Minister Devendra Fadnavis today announced that the National Stock Exchange (NSE) has launched the WAVES Index. He also said the state has signed Memorandums of Understanding (MoUs) worth ₹8,000 crore on the sidelines of the World Audio Visual and Entertainment Summit (WAVES) for the development of world-class studios and universities.

“I am very happy that the WAVES Summit was held in Mumbai, and I thank the Union government for giving Maharashtra the opportunity to host it. Visitors from across the globe have said there is no other event of such scale and quality in the region. We can play a leadership role in this area, and we are working in that direction,” Fadnavis said at the summit.

“We have finalised extremely important MoUs worth ₹8,000 crore. The multiplier effect of these investments will be significant and will help create a mega ecosystem. Today, the NSE has also launched the WAVES Index with 42 companies. This will strengthen the investment ecosystem in this sector. I believe the WAVES Index is one of the key achievements of the summit,” he added.

Fadnavis also said MoUs have been signed with two foreign universities. “Under the new education policy, the Prime Minister has opened the doors for foreign universities. Currently, our students have to travel abroad to pursue quality education. But if that same standard of education is offered here, it will benefit both students and the local economy. One MoU has been signed with an Australian university, and another with the University of York in the UK, which is among the top global institutions,” he said.

“Through CIDCO, we are developing an Edu City. We expect around ten to twelve foreign universities to establish campuses there. Two MoUs have already been signed, three are in the pipeline, and we are in talks with five more institutions. We aim to build a world-class education ecosystem at our doorstep. Maharashtra is poised to take the lead in the education sector,” Fadnavis added.

Maharashtra has also signed agreements for the establishment of high-tech, world-class studios. “We have signed an agreement with Prime Focus for an advanced Film City. They will invest around ₹2,500 crore to set up a state-of-the-art studio. In addition, Godrej is setting up another world-class studio in Panvel with an investment of ₹2,000 crore. These two studios will attract global post-production work to India and create large-scale employment,” he said.