New Delhi, July 13: Union Minister of Information and Broadcasting, Ashwani Vaishnaw on Saturday announced that India will host the first World Audio Visual and Entertainment Summit (WAVES) in Goa from November 20-24, 2024.

The Minister made this announcement at a curtain raiser event in New Delhi today along with Chief Minister of Goa Pramod Sawant and Union Minister of State for Information and Broadcasting Dr. L. Murugan.

Speaking on the occasion, Vaishnaw said, “The Media and Entertainment industry is a major source of employment, currently providing jobs to approximately 25 lakh people. In recent years, the industry has experienced significant structural changes, driven largely by advancements in technology. To address these changes and boost employment, WAVES is being organized in Goa. This global summit, held alongside the International Film Festival of India (IFFI), aims to create substantial job opportunities and will serve as a significant employment generator in the country.”

Welcoming the move made by the union government, Pramod Sawant, Chief Minister of Goa said, “I welcome the decision made by the Ministry. We have been hosting the IFFI for the last 20 years. We are committed to making the WAVES summit successful.

According to the Ministry of Information and Broadcasting, the global Media & Entertainment (M&E) industry, covering Films, TV, Broadcast, Print, Radio, News, Advertising, Animation, VFX, Gaming & E-sports, Music, and LIVE events, reached a revenue of USD 2.32 trillion in 2022, showing significant growth. India’s market size is currently USD 26.2 billion but has the potential to expand its share of the global market.

WAVES aims to be a premier forum, fostering dialogue, trade collaboration and innovation within the evolving M&E industry landscape. The Summit will convene industry leaders, stakeholders, and innovators to explore opportunities, tackle challenges, attract trade to India, and shape the sector's future, officials said. 

Read More: National News