IICT to be Established in Mumbai on the Lines of IIT; Film City to Allocate Space, ₹400 Crore from Central Government – CM Devendra Fadnavis

Maharashtra to Host ‘WAVES 2025’ Summit

New Delhi : A world-class Indian Institute of Creative Technology (IICT), modeled after IITs, will be established in Goregaon, Mumbai, with the central government providing financial assistance of ₹400 crore, Maharashtra Chief Minister Devendra Fadnavis announced.

The first session of the World Audio-Visual & Entertainment Summit 2025 – ‘WAVES 2025’ was held at Sushma Swaraj Bhavan. Speaking at the session, CM Fadnavis shared details about the IICT project, which aims to elevate India’s media and entertainment industry to a global level.

Maharashtra Chosen as Host for ‘WAVES 2025’ Summit

Maharashtra has been chosen as the host for this prestigious global summit, marking a significant achievement for the state. The summit will be held from May 1 to 4, 2025, at the Jio Convention Center in Mumbai. CM Fadnavis thanked Prime Minister Narendra Modi for granting Maharashtra this opportunity. The first session of the summit was organized by the Union Ministry of Information and Broadcasting, with participation from ambassadors and high commissioners from various countries.

During the event, Union Ministers S. Jaishankar, Ashwini Vaishnaw, and Dr. L. Murugan, along with CM Fadnavis, shared their insights. A Memorandum of Understanding (MoU) was signed between the Union Ministry of Information and Broadcasting and the Maharashtra government for the successful execution of WAVES 2025.

IICT: A Global Hub for Creative Technology

CM Fadnavis, while addressing the media, said that IICT will transform Mumbai into a global creative hub. He emphasized that the institute is not just an educational facility but a milestone for India’s creative technology industry. With central government support of ₹400 crore, the IICT will play a key role in shaping India’s creative technology ecosystem.

The Indian Institute of Creative Technology (IICT) will be more than just a film school. It will focus on digital content, VFX, animation, audio-visual storytelling, media innovation, and Web 3.0 technologies. Like IIT Bombay, this institute will become India’s leading center for creative technology. The Maharashtra government has already identified land within Film City in Goregaon for this ambitious project.

Mumbai to Become a Global Creative Hub

According to CM Fadnavis, Mumbai is already the heart of Bollywood and the entertainment industry. However, with IICT and the WAVES 2025 summit, India’s creative sector will gain a global platform. He compared it to Davos, which is a key global center for finance, and emphasized that Mumbai will now become the global hub for creative technology.

About WAVES 2025 Summit

The WAVES 2025 summit will provide a massive platform for professionals in broadcasting, film, animation, gaming, digital media, music, advertising, social media, and emerging technologies. To foster investment and innovation, three key initiatives will be introduced:

• WAVES Market – To facilitate business and investment opportunities
• WAVES Accelerator – To support creative startups
• Creatosphere – A platform for global creative collaboration

This summit is expected to boost investments in India’s media and entertainment sector, promote innovation, and attract international companies to the Indian market.

Mumbai: The Global Entertainment Capital

Mumbai is already India’s economic and entertainment capital. Hosting WAVES 2025 will enhance global partnerships in media, technology, and culture, shaping the future of the industry.

The global media and entertainment industry is growing rapidly, with a market value of $2.96 trillion in 2024. India’s industry is expected to reach $50 billion by 2029, with over 60 OTT platforms expanding the country’s digital entertainment footprint worldwide, CM Fadnavis stated.