India will set up its first Indian Institute of Creative Technology in Mumbai, with the Centre allocating Rs 400 crore for the initiative, said Union Minister for Information and Broadcasting Ashwini Vaishnaw.
Major global firms such as Nvidia and Google have partnered in the project, while the Maharashtra government has provided the land for the institute.
Vaishnaw was speaking at the World Audio Visual Entertainment Summit (WAVES) in Mumbai. The summit witnessed the presence of several key leaders, including Prime Minister Narendra Modi, Maharashtra Chief Minister Devendra Fadnavis, and other prominent industry stakeholders.
"WAVES is a global platform and a catalyst for creators,” said Bollywood actor Shah Rukh Khan.
Vaishnaw added that WAVES will expose creators to new technologies and connect them with investors and producers. The summit features leaders and creators from 75 countries and will host 100 sessions.
The Ministry of Information and Broadcasting is hosting the inaugural WAVES 2025 in Mumbai from May 1 to May 4. The event showcases India’s rise as a global hub for content creation and explores opportunities, challenges, trade promotion, and the future of media and entertainment.
