Reliance Industries Chairman Mukesh Ambani on May 1 projected that India’s media and entertainment industry could grow to more than $100 billion over the next decade, nearly four times its current estimated value of $28 billion. He was speaking at the inaugural session of the World Audio Visual and Entertainment Summit (WAVES) 2025, being held at the Jio World Convention Centre in Mumbai.
Addressing the summit, Ambani credited Prime Minister Narendra Modi’s leadership for India’s emergence as a digital-first nation. “Under the visionary leadership of Modiji, India has become a leading digital nation,” he said. Ambani added that the convergence of storytelling with digital technologies has significantly expanded India’s cultural reach and global influence.
Highlighting the potential of emerging technologies, Ambani said, “The tools of AI and immersive technologies can make our stories more engaging than ever before – and instantly reach audiences across languages, countries and cultures. I am confident that India’s super-talented youth will rule the global entertainment industry.”
Ambani also commented on the recent terror attack in Pahalgam, stating that the Prime Minister’s presence at the summit sent a “strong message of hope, unity, and unshakable resolve.”
“We are truly blessed and deeply honoured by PM Modi’s presence today. We know your extraordinary responsibilities — particularly after the recent barbaric terror attack in Pahalgam. Therefore, your coming here sends a strong message,” he said.
Offering condolences, Ambani added, “All of us gathered here offer our heartfelt condolences to the families of the victims. Modiji, 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.”
Reiterating his earlier condemnation of the attack, the Reliance Chairman described terrorism as “an enemy of humanity” and stated that it must not be supported in any form.
The four-day WAVES 2025 summit, running from May 1 to May 4, brings together industry leaders to discuss ways to scale India’s media and entertainment sector, which reported revenues of Rs 2.5 lakh crore in 2024.
