In November, New Delhi, India will host the inaugural World Audio Visual and Entertainment Summit in conjunction with the International Film Festival of India in Goa.
Ashwini Vaishnaw, the Minister of Information and Broadcasting, has pledged to fortify the framework that safeguards intellectual property rights within the media and entertainment industry.
The first World Audio Visual and Entertainment Summit will take place in Goa from November 20–24. Goa Chief Minister Pramod Sawant announced the event and referred to it as a visionary move by Prime Minister Narendra Modi as India looks to establish itself in the media and entertainment industry.
Intellectual property rights are very valuable in the media and entertainment industry. In his speech at the WAVES curtain-raiser, Information and Broadcasting Minister Vaishnaw stated, “We will be strengthening the ecosystem for protecting IP rights.”
According to Vaishnaw, the government is also looking into methods to use the lessons learned from the venture capital model to provide low-cost funding to the media and entertainment industry.
According to Sawant, WAVES will open up new opportunities for networking, industrial collaboration, and the expansion of the media and entertainment sector. According to him, the industry generated 3,000 hours of content for OTT platforms in 2023 alone.
According to Sawant, Goa will host the International Film Festival of India from November 20–28.
With the media and entertainment business valued at USD 27.5 billion in India, the government wants to present WAVES as a forum for thought leadership, discussion starters, information sharing, and deep partnerships with global industry players.
Additionally, it aims to promote India as a nation that welcomes business and as a place where the industry may invest.
The WAVES event aims to establish India as a global leader in the media and entertainment industry, according to I&B Secretary Sanjay Jaju.
