Mumbai (Maharashtra) [India], May 2 (ANI): Union Minister Ashwini Vaishnaw on Friday predicted that the World Audio Visual & Entertainment Summit (WAVES) will go on to become a benchmark in the world, saying that the ministers from foreign countries who participated in the summit appreciated the initiative.

Speaking to mediapersons at the first-ever WAVES 2025, Union Minister Ashwini Vaishnaw said that the government is soon going to make the Indian Institute of Creative Technology (IICT) in Maharashtra's Mumbai.

'Today, the World Audio Visual & Entertainment Summit is a good start which will go on to become a benchmark in the world. In the Global Media Dialogue held here, a declaration recognising the constructive way this has been done was adopted. Ministers from many countries have appreciated the PM's initiative. They feel that this kind of platform was needed for many many years and that it's the first time somebody has been able to take this decisive step. This will be a regular phenomenon,' Vaishnaw said.

'We are also starting the first IICT, on the lines of IIT and IIM, the Indian Institute of Creative Technology, which will be built in Mumbai. 400 crores have already been allocated in the budget. The Maharashtra government has also provided land for the same,' the Union Minister added.

Earlier in the day, Maharashtra Chief Minister Devendra Fadnavis said that the World Audio Visual and Entertainment Summit (WAVES) is filled with development and employment opportunities.

'This event is filled with development, employment opportunities, and a new vision rich with investment potential,' Fadnavis told reporters.

'After the inauguration by the Prime Minister yesterday, delegates and experts from around the world said that this is the first time they have witnessed an event at such a scale, executed with such meticulous planning and foresight. As part of this platform, we have signed an important MoU today. It is a major success in the direction of building a strong and sustainable investment ecosystem; the first one was the launch of WAVES INDEX, which will serve as a profit base for the ecosystem of investment...' he added.

He thanked the central government for choosing Mumbai as the host of the first-ever WAVES 2025.

Meanwhile, emphasising the Maharashtra government's efforts to make the state an education hub, Chief Minister Devendra Fadnavis said that his government has signed MoUs with two major universities, which will open new dimensions in the fields of education and skill development.

'After the inauguration by the Prime Minister yesterday, delegates and experts from around the world said that this is the first time they have witnessed an event at such a scale, executed with such meticulous planning and foresight. As part of this platform, we have signed an important MoU today. It is a major success in the direction of building a strong and sustainable investment ecosystem, the first one was the launch of WAVES INDEX that will serve as a profit base for ecosystem of investment...,' he said.

'We have signed MoUs with two leading universities - University Western Australia and University of York. which will open new dimensions in the fields of education and skill development. Under the New Education Policy, new doors of opportunities have opened for us, which will guide the future of our youth,' CM Fadnavis asserted.

WAVES 2025, inaugurated by Prime Minister Narendra Modi, is a four-day summit with the tagline 'Connecting Creators, Connecting Countries' that is poised to position India as a global hub for media, entertainment, and digital innovation by bringing together creators, startups, industry leaders, and policymakers from across the world.

WAVES 2025 witnesses participation from over 90 countries, with more than 10,000 delegates, 1,000 creators, 300+ companies, and 350+ startups. (ANI)