Article Title: Modi champions ‘Orange economy’ at WAVES
02-05-2025
Economy Current Affairs Analysis
Context
• Appealing to global companies to create content in India, Prime Minister Narendra Modi on Thursday said that the strength of Indian culture lies in respecting the cultures of other countries.
• ‘Orange economy’, also known as the creative economy, refers to economic activities that leverage creativity, culture, and intellectual property to generate wealth and jobs.
• The PM hailed Indian content creators, even as he stressed the importance of responsible creativity.
• “Today, foreign consumers are consuming Indian entertainment with subtitles. Screen size is becoming smaller, but the consumption is growing, the message is becoming bigger.
WAVES
• The WAVES, or World Audio Visual and Entertainment Summit, has attracted major names from the media and entertainment industry from over 90 countries, including superstar actor Rajinikanth and Reliance Industries’ CEO and MD Mukesh Ambani, who both paid respects to the victims of the recent terror attack in Pahalgam in Jammu and Kashmir.
• WAVES (World Audio Visual & Entertainment Summit) is a global event organized by the Government of India.
• It aims to position India as a hub for media innovation, IP creation, and content development.
• Sectors covered include:
1Broadcasting, Films, TV, Radio, Animation, Gaming, Comics, Advertising, and
2Emerging tech like Generative AI, Augmented/Virtual/Extended Reality (AR/VR/XR) and Digital Media Platforms.
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