India’s versatile media and entertainment industry can grow more than three-fold to $100 billion in the next decade, creating millions of jobs and a ripple effect across sectors, billionaire Mukesh Ambani said on Thursday.
IMAGE: Reliance Industries chairman Mukesh Ambani with his son Anant Ambani, daughter-in-law Radhika Merchant and others listen to PM Modi (unseen) addressing the inauguration of the World Audio Visual and Entertainment Summit (WAVES) 2025, at the Jio World Convention Centre in Mumbai. Photograph: ANI Photo
Ambani, whose group controls Network18 – one of India’s largest media conglomerates – as well as digital platforms, entertainment channels and content streaming platforms, said the fusion of storytelling and digital technologies has created a strategic and economic opportunity.
“India’s media and entertainment industry is today valued at $28 billion.
“It can grow to over $100 billion in the next decade.
“This growth will drive entrepreneurship, generate millions of jobs, and create a ripple effect across sectors,” he said while speaking at the inaugural session of the WAVES 2025 conference in Mumbai.
Stating that India has become a front-ranking digital nation, he said the fusion of storytelling and digital technologies is unique to India.
“It has multiplied the impact and reach of entertainment and cultural experiences beyond imagination.
“The tools of AI and immersive technologies can make our stories more captivating than ever before — and take them instantly to audiences across languages, countries, and cultures.”
By mastering these tools, India’s super-talented young creators will rule the global entertainment industry with blockbusters, Ambani noted.
“In an increasingly turbulent and uncertain world, our stories give the hope of a better future with their power to unite, inspire, and enrich,” he said.
India’s entertainment and cultural industry is not just soft power – it is real power.
“In our civilizational heritage of over 5,000 years, we have vast treasure troves of timeless tales – from the Ramayana and Mahabharata to folklore and classics in dozens of languages.
“They touch people’s hearts around the world because they celebrate universal human values – brotherhood, compassion, courage, love, beauty, and care for nature,” he said.
“No nation can match India’s storytelling power.
“Therefore, with great confidence and creativity, let us take our stories globally to heal a divided world.”
Ancient India, he said, is currently experiencing unprecedented rejuvenation with the power of modern technologies.
Referring to the recent terror attack in Pahalgam, Ambani said the presence of Prime Minister Narendra Modi at the conference sends a strong message of “hope, unity, and unshakable resolve”.
“All of us, gathered here, offer our heartfelt condolences to the families of the victims,” he said.
“Modi ji, you have the full support of 145 crore Indians in this fight against the enemies of peace, justice and humanity.
“Their defeat is certain. India’s victory is also certain.”
Speaking about the conference, he said representatives from 90 countries and 10,000 delegates are participating in the WAVES 2025.
“This is the josh of Naya Bharat – the spirit of New India.
“Bold in its dreams. Fast in its execution. And determined to surpass global standards.”
