Can India’s Creators Really Power the Next Economic Boom? WAVES 2025 and a $1 Billion Push Say Yes!

At the World Audio Visual and Entertainment Summit (WAVES) 2025 held in Mumbai, Prime Minister Narendra Modi emphasized the growing importance of India’s orange economy, also known as the creative economy, as a vital contributor to the country’s GDP. From music and films to gaming and digital storytelling, the Prime Minister said that creators are at the heart of a new cultural and economic revolution, helping India strengthen its global presence.

What is the Orange Economy?

The orange or creative economy includes all activities related to culture, arts, design, media, and entertainment. PM Modi stated that this economy is powered by creators, musicians from Guwahati, podcasters from Kochi, game designers in Bengaluru, or filmmakers from Punjab. India’s vibrant creative landscape, he said, needs a global stage, and WAVES is that platform.

WAVES 2025: A Global Stage for Indian Talent

WAVES 2025, India’s first summit of its kind, has brought together over 10,000 delegates from 90 countries. With 1,000 creators, 300+ companies, and 350+ startups participating, the summit represents a major leap in showcasing Indian content and technology. PM Modi announced that WAVES will also have its own awards, envisioned to be among the most prestigious in the global art world. A special highlight is the Bharat Pavilion and the WAVES Bazaar, a global e-marketplace where Indian creators can showcase their content to international buyers.

To boost this growing sector, the Indian government has taken strong steps. A $1 billion fund has been launched to support creators in upgrading their skills, production quality, and global outreach. Additionally, Rs 391 crore has been approved for the upcoming Indian Institute of Creative Technology (IICT), which will specialize in creative and digital technologies.

India’s Growing Influence in Media and Entertainment

From Dadasaheb Phalke’s first Indian film in 1913 to today’s Oscar and Cannes-winning content, Indian cinema has seen exponential global growth. Names like Guru Dutt and A.R. Rahman have become cultural ambassadors. With more than 6 lakh villages each holding unique folk stories and traditions, the creative potential is vast and deeply rooted.

The rise in internet access has opened new doors for lakhs of young Indians to create content across platforms like YouTube, Instagram, and others. Today, content creation isn’t just a hobby- it’s a thriving industry. According to a Qoruz report, the number of Indian influencers grew from 962,000 in 2020 to over 4 million in 2024- a stunning 322% increase in just four years. Gaming, fashion, travel, parenting, infotainment, and finance are all seeing explosive growth.

Creator Economy = Job Generator

India’s creator economy is also becoming a key source of employment and entrepreneurship. From video editors and animators to marketers and brand strategists, this sector is spawning jobs across different industries like fashion, food, travel, and health. With this growth, India is moving closer to becoming not only the world’s third-largest economy but also a net exporter of content and creativity.

Brands + Creators = A Winning Formula

An EY report reveals that influencer marketing in India is expected to grow by 25% in 2024, reaching Rs 2,344 crore and rising to Rs 3,375 crore by 2026. About 12% of Indian content creators now earn between Rs 1 lakh and Rs 10 lakh monthly. Brands are increasingly turning to nano and micro influencers, those with 100 to 100,000 followers, due to their affordability and better audience connection. Meanwhile, mega influencers (with over a million followers) are being tapped by large brands for bigger campaigns.

India is now the third-largest startup ecosystem in the world and is on the path to becoming the third-largest economy. The creative economy, backed by government funding, digital access, and a massive youth base, is set to play a central role in this journey. By merging tradition with innovation, India is poised to become a creative superpower.

The WAVES summit is a celebration of India’s culture, creativity, and commerce. With strong policy support, global platforms, and a booming creator base, India’s creative economy is reshaping its future.