India to Host First World Audio Visual & Entertainment Summit

August 24, 2024

India is rapidly becoming a major force in producing media content, thanks to the rise of OTT (Over-The-Top) platforms like Netflix and Amazon Prime. These platforms have made it easier for Indian content to reach audiences all over the world, giving Indian creators a chance to showcase their work on a global stage. This growth is helping the Indian Media and Entertainment (M&E) industry make a big impact internationally.

Diverse Content Production

India’s content creation is incredibly diverse, covering everything from movies and television shows to news, sports, and digital media. This variety reflects India’s rich culture and traditions. The focus is on entertainment, but there’s also a strong push for innovation and inclusion, making sure the content keeps up with global trends and appeals to a wide range of audiences.

OTT Platforms

The rise of OTT platforms is changing the game for Indian media. These platforms allow Indian movies, shows, and other content to be streamed in more than 130 countries. This not only increases the reach of Indian content but also positions India as a key player in producing high-quality and affordable media. It has opened doors for international partnerships and collaborations, making India a central hub for content production.

Recognition of India’s Potential

India is already known as a leader in animation and visual effects (VFX), with a reputation for creative excellence. The Indian government recognizes the potential of the M&E sector and is actively supporting its growth. The government sees this industry as a key area that can drive economic development and create new opportunities for the country.

World Audio Visual & Entertainment Summit (WAVES)

To further boost India’s M&E industry, the Ministry of Information and Broadcasting is organizing the first-ever World Audio Visual & Entertainment Summit (WAVES), in Goa from 20th to 24th November 2024. This event aims to strengthen India’s connections with the global entertainment industry, focusing on the economics of entertainment and new technological advancements.

‘Create in India Challenge’

During the WAVES summit, Union Minister Ashwini Vaishnaw launched the ‘Create in India Challenge – Season 1,’ which introduces 25 new initiatives to encourage innovation in the M&E sector. This challenge reflects the government’s commitment to improving creativity and attracting investment in the industry. The WAVES summit is expected to be a crucial platform for discussions, trade partnerships, and solving industry challenges. By bringing together industry leaders and innovators, the summit aims to shape the future of India’s M&E sector and expand its influence around the world.

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