India to Host Inaugural World Audio Visual and Entertainment Summit

India will host the first World Audio Visual and Entertainment Summit in November alongside the International Film Festival of India in Goa. With a focus on intellectual property rights, the initiative, led by Prime Minister Narendra Modi, aims to strengthen the media and entertainment ecosystem and attract global business.

India is set to host the inaugural World Audio Visual and Entertainment Summit in Goa this November. The announcement was made by Information and Broadcasting Minister Ashwini Vaishnaw and Goa Chief Minister Pramod Sawant. The summit, a visionary initiative of Prime Minister Narendra Modi, will run from November 20-24 alongside the International Film Festival of India scheduled from November 20-28.

Vaishnaw emphasized the critical importance of intellectual property rights in the media and entertainment sector, pledging government efforts to fortify this ecosystem. He also hinted at the possibility of making low-cost funds available, modeled after venture capital, to enhance sector growth.

Sawant highlighted that the WAVES summit would serve as a pivotal platform for industry networking, collaboration, and expansion, noting that the sector has already produced 3,000 hours of content for OTT platforms in 2023. The government aims to position India as a global leader and investment hub in this booming $27.5 billion industry.

(With inputs from agencies.)