'Let the WAVES rise': Mukesh Ambani backs $100B media vision

Delivering a high-energy keynote at the inaugural edition of the WAVES Summit 2025, Reliance Industries Chairman Mukesh Ambani emphasised the growing global stature of India’s media and entertainment industry and the nation's cultural soft power. Addressing a packed audience of over 10,000 delegates and representatives from 90 countries, Ambani outlined four key messages that reflected both optimism and ambition for India’s creative economy.

Ambani credited Prime Minister Narendra Modi’s vision for the genesis of WAVES, an acronym that remains open-ended but reflects themes of culture, innovation, and collaboration. “This is the josh of a Naya Bharat,” he said, applauding the Modi-led government and Ashwini Vaishnaw’s team for turning the summit into reality within months of its approval.

Framing entertainment as a “real power” rather than just soft power, Ambani spoke of India’s 5,000-year-old storytelling tradition, from the Ramayana and Mahabharata to diverse regional folklores. “No nation can match India's storytelling power,” he said, urging Indian creators to take these stories global to “heal a divided world.”

He also spotlighted the fusion of storytelling and technology as India’s unique edge. With AI and immersive tools like AR/VR, the nation's creative talents are now equipped to lead the global entertainment landscape. “By mastering these tools,” Ambani said, “India's super-talented young creators will rule the global entertainment industry with blockbusters year after year.”

Looking ahead, Ambani underscored the strategic and economic potential of the sector. Currently valued at $28 billion, India’s media and entertainment industry, he said, could cross the $100 billion mark within a decade, driving entrepreneurship, job creation, and innovation across allied sectors.

With a rousing close, he assured the PM and global attendees, “We will make WAVES the world’s foremost entertainment platform, one with an Indian soul and a global voice.”

Held for the first time in Mumbai, the WAVES Summit is India’s flagship cultural and creative economy conclave, envisioned as a global hub for storytelling, digital innovation, and cross-border partnerships. Organized under the aegis of the Ministry of Information and Broadcasting and backed by key industry leaders, the summit aims to position India as a leading player in the global entertainment and media ecosystem.