The country’s media and entertainment sector can grow over three-fold to touch $100 billion in a decade from $28 billion now, Reliance Industries chairman Mukesh Ambani said on Thursday while delivering his key-note address at the Waves Summit 2025.
Ambani, whose group controls media conglomerate Network18 and oversaw the merger of Star India and Viacom18 in 2024, to create JioStar, valued at $8.5 billion, said the fusion of storytelling and digital technologies had created a strategic and economic opportunity for the sector.
“The growth in India’s media and entertainment sector will drive entrepreneurship, generate millions of jobs, and create a ripple effect across sectors,” he said while addressing a gathering of celebrities, delegates and government representatives at the summit.
Ambani also emphasised the growing global stature of the industry, saying it had multiplied the impact and reach of entertainment and cultural experiences beyond imagination.
Framing entertainment as a “real power” rather than a “soft power”, Ambani pointed to India’s rich story-telling tradition. “No nation can match India’s storytelling power from the Ramayana to Mahabharata. These stories can help heal a divided world,” he added.
Ambani also spotlighted the fusion of storytelling and technology in India. With AI and immersive tools such as augmented and virtual reality at the disposal of content creators, the nation’s creative talent was now equipped to lead the global entertainment landscape.
Ambani also said that the acronym Waves reflected the themes of culture, innovation, collaboration and creative economy. “Let the Waves rise,” he added, as he applauded the Modi government and I&B minister Ashwini Vaishnaw, in particular, who also holds the additional portfolios of railways and electronics & information technology, for organising the Waves Summit in a matter of months.