India is gearing up to host its maiden Global Media and Entertainment Summit in November, marking a significant stride towards becoming a pivotal player in the global media landscape. The summit, strategically scheduled alongside the prestigious International Film Festival of India, will unfold in the scenic coastal state of Goa from November 20 to 24.
Embracing Innovation and Growth in Media and Entertainment
The announcement, made jointly by Union Information and Broadcasting Minister Ashwini Vaishnaw and Goa Chief Minister Pramod Sawant, underscores India’s ambition to carve out a prominent role in the realm of media and entertainment. Termed as World Audio Visual and Entertainment Summit (WAVES) 2024, this initiative is hailed as a visionary leap by Prime Minister Narendra Modi to elevate India’s stature in this dynamic sector.
Strengthening Intellectual Property Rights and Economic Ecosystem
At the curtain-raiser event held in New Delhi, Minister Vaishnaw emphasized the pivotal role of intellectual property (IP) rights in the media and entertainment domain. He pledged to fortify the existing framework to safeguard these rights, crucial for fostering creativity and ensuring sustainable growth in the sector.
Vaishnaw also highlighted the government’s commitment to infuse low-cost funding mechanisms, drawing insights from successful venture capital models. This move aims to bolster innovation and support aspiring talents within the vibrant media landscape undergoing rapid technological evolution.
Fostering a Conducive Environment for Growth
Acknowledging the transformative impact of technological infusion, Minister Vaishnaw articulated the government’s proactive stance in adapting public policies to harness these advancements optimally. The focus remains steadfast on creating a robust ecosystem conducive to producing high-quality content and nurturing a resilient talent pipeline.
India’s Strategic Move to Global Prominence
With the media and entertainment sector currently valued at $27.5 billion in India, WAVES 2024 aspires to catalyze dialogues, propel knowledge exchange, and forge strategic alliances with global industry leaders. This initiative not only aims to showcase India’s burgeoning potential but also to position the country as an attractive investment destination and a hub for innovation in the global media arena.
Summary
India’s forthcoming World Audio Visual and Entertainment Summit in Goa represents a watershed moment for the nation’s media and entertainment sector. By focusing on innovation, IP rights protection, and economic growth, the summit is poised to redefine India’s role on the global stage.
Key Learning Points
| Learning Points |
|---|
| India to host WAVES 2024 alongside International Film Festival of India |
| Focus on strengthening IP rights in media and entertainment sector |
| Strategic initiative by PM Modi to boost global presence in media |
| Emphasis on fostering innovation and technological advancement |
| Aim to attract investment and promote skill development in the sector |
Soumya Smruti Sahoo is a seasoned journalist with extensive experience in both international and Indian news writing. With a sharp analytical mind and a dedication to uncovering the truth, Soumya has built a reputation for delivering in-depth, well-researched articles that provide readers with a clear understanding of complex global and domestic issues. Her work reflects a deep commitment to journalistic integrity, making her a trusted source for accurate and insightful news coverage.
