India to Host First World Audio Visual & Entertainment Summit

India is hosting the first-ever World Audio Visual & Entertainment Summit (WAVES) in Goa from November 20-24, 2024, organized by the Ministry of Information and Broadcasting. This global event aims to strengthen India’s position in the Media and Entertainment (M&E) industry by focusing on entertainment economics, new technologies, and international partnerships. The rise of OTT platforms like Netflix and Amazon Prime has allowed Indian content to reach global audiences, positioning India as a significant hub for media production. During the summit, Union Minister Ashwini Vaishnaw will launch the ‘Create in India Challenge,’ with 25 new initiatives to encourage innovation in the sector. The summit is expected to boost India’s economy, showcase its culture globally, and enhance international collaborations, despite challenges such as maintaining quality and retaining talent.