The Ministry of Information and Broadcasting will host the inaugural World Audio Visual & Entertainment Summit (WAVES) from November 20-24, 2024, in collaboration with the State Government of Goa.
This global summit, scheduled alongside the International Film Festival of India (IFFI), aims to bolster employment in the Media and Entertainment (M&E) industry, which currently employs approximately 25 lakh people.
Union IT Minister Ashwini Vaishnaw highlighted the industry's evolution due to technological advancements and emphasized WAVES' role in addressing these changes to enhance job creation. Goa's Chief Minister, Pramod Sawant, welcomed the initiative, noting the state's commitment to ensuring the success of WAVES alongside its longstanding hosting of IFFI.
According to the Ministry, the global M&E industry, encompassing films, TV, broadcast, print, radio, news, advertising, animation, VFX, gaming, e-sports, music, and live events, generated USD 2.32 trillion in revenue in 2022, with India's market currently at USD 26.2 billion and poised for expansion on the global stage.
WAVES aims to serve as a pivotal platform for industry leaders, stakeholders, and innovators to foster dialogue, collaboration, and innovation within the M&E sector. The summit seeks to attract global trade to India and shape the future of the industry.
