Govt announces $1 billion fund to boost creator economy

Speaking at a press conference, MIB minister Ashwini Vaishnaw also shared that the Cabinet has approved establishment of the Indian Institute of Creative Technologies

by e4m Staff
Published: Mar 13, 2025 6:46 PM | 2 min read

The Indian government will establish a $1 billion fund to strengthen the country’s creator economy, Minister of Information and Broadcasting Ashwini Vaishnaw announced.

Speaking at a press conference on WAVES 2025, Vaishnaw stated that the fund will be implemented through a public-private partnership. Further details will be revealed by the ministry in the coming days.

“This will ensure all our energetic creators use the latest technologies today by getting access to capital and honour on their skills, and upgrade their productivity levels to reach to the global market,” the minister said.

Additionally, the Union Cabinet has approved the establishment of the Indian Institute of Creative Technologies (IICT). Similar to IMM and IIT, this institute will provide world class level courses and facilities. The first institute is planned to be launched in Mumbai soon and Rs 391 crore has been set aside to set up the facility.

The Prime Minister’s vision with WAVES 2025 is to uplift the creators who produce content using technology by providing them a platform to showcase their skills, Vaishnaw further explained.

Speaking about the brand ambassador for WAVES, the minister is of the belief that 140 crore Indians will act as the most powerful brand ambassadors of WAVES 2025. About 34 media veterans are on the advisory board who are undertaking the planning and execution of this summit.

In the past, the Ministry of Information and Broadcasting (I&B) had announced the 'Create in India Challenge' as part of its preparations for the Waves 2025 Summit. This initiative, aimed at fostering creativity and innovation, will spotlight India's growing stature as a global leader in the media and entertainment sectors.

The Waves 2025 Summit, organized by the Government of India, celebrates India's dynamic creative economy and aims to amplify its global impact.

The Waves 2025 Summit, which is scheduled to take place in Mumbai during May 1- May 4, 2025, is set to serve as a global stage for India’s creative talent, encouraging collaborations across industries. It will spotlight advancements in animation, gaming, entertainment technology, and regional and mainstream cinema, positioning India as a content creation powerhouse.