WAVES 2025: Mukesh Ambani sets $100 billion vision for India’s entertainment industry

At the inaugural session of the World Audio Visual and Entertainment Summit (WAVES) 2025 Global Summit in Mumbai, Reliance Industries Chairman and Managing Director Mukesh Ambani made a rousing pitch for India to lead the global entertainment and cultural economy, calling the country’s storytelling heritage “real power” in a divided world. Addressing a global gathering of over 10,000 delegates from 90 countries, Ambani said India is poised to become the “world’s foremost entertainment platform — one with an Indian soul and a global voice.”

WAVES has been launched as India’s premier platform to showcase its creative, cultural, and technological strength in global entertainment. The inaugural edition being held in Mumbai is with the support of Prime Minister Narendra Modi and the Ministry of Information and Broadcasting, led by Ashwini Vaishnaw.

“India’s media and entertainment industry is today valued at $28 billion. It can grow to over $100 billion in the next decade,” said Ambani, underlining the economic significance of the sector. “This growth will drive entrepreneurship, generate millions of jobs, and create a ripple effect across sectors.”

Ambani emphasised that India's 5,000-year-old civilisational heritage — with stories from the Ramayana, Mahabharata, regional folklore, and classical literature — gives the country unmatched storytelling depth. “No nation can match India’s storytelling power. Let us take our stories globally to heal a divided world,” he said, pointing to the universal appeal of Indian values like brotherhood, courage, and compassion.

He further noted that India’s rise as a digital powerhouse — driven by Modi’s digital vision — allows the fusion of ancient narrative traditions with cutting-edge technologies like AI and immersive media. “This fusion is again unique to India,” Ambani said, expressing confidence that Indian creators will dominate global entertainment in the coming years.

With a mandate to become a “global hub of innovation, culture, and collaboration,” WAVES has been conceived as India’s answer to global festivals like Cannes, Sundance, and SXSW. Backed by Reliance and other Indian and international media conglomerates, WAVES is expected to be an annual fixture showcasing India’s creative economy and attracting studios, investors, and talent from across the world.

The WAVES initiative aligns with India’s ambition to leverage soft power for strategic and economic gains, while also creating a platform to export Indian intellectual property at scale. “This is not just a cultural or creative opportunity — it is a strategic and economic opportunity as well,” Ambani asserted.

Ambani framed the summit as an embodiment of “Naya Bharat” — bold in ambition and swift in execution. “This is the josh of New India,” he said, lauding the leadership of the central and Maharashtra state governments.

Closing his address with a call for global collaboration, Ambani promised that WAVES would become the gathering place of “dreamers, makers, and changemakers,” signalling India’s serious push to move from storytelling exporter to cultural superpower.