WAVES Bazaar secures deals worth RS 1000 crore on third day of summit in Mumbai
MUMBAI: The WAVES Bazaar, a flagship initiative of the World Audio Visual and Entertainment Summit (WAVES 2025), has struck over Rs 1000 crore deals on the third day of the Wave summit in Mumbai.
According to Sanjay Jaju, Secretary, Ministry of Information & Broadcasting, the total deal value is projected to exceed Rs 1000 crore by the close of the event. Mr Jaju said there is an overwhelming response to WAVES Bazaar.
'The pavilions of various firms that showcase their products and talents are fetching good deals. In the second day of the summit, the total deal amount was over Rs 250 crore, while on the third day, the deal amount went more than Rs 1000 crore. Each participant in the wave summit is very happy with the positive response. The platform created by the central government is working effectively for all stakeholders,' he added.
'The early success of the WAVES Bazaar reinforces the narrative that India's soft power, content innovation, and market scale are now ripe for global export. The robust participation from European and Asian players, combined with tangible outcomes in film, animation, music, and VFX, suggest a future where India is no longer just a content consumer, but a lead collaborator in the creation of the world's entertainment,' he said.
He added that WAVES Bazaar has achieved what few first-time markets can: delivering results, fostering collaborations, and signaling that India is open for creative business.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
7 minutes ago
- Business Standard
Thinking of withdrawing your PF? A surprise 30% tax may hit you
Are you tempted to withdraw your Provident Fund (PF) savings after quitting your job? Doing that without completing five years of continuous service could dent your savings, with up to 30 per cent of the amount going in taxes. Legal experts and tax professionals say that hasty PF withdrawals defeat the purpose of long-term retirement savings and have hefty tax implications. 'Withdrawing your PF before five years of continuous service is treated as a taxable event,' said Vishal Gehrana, partner designate at Karanjawala & Co. and advocate-on-record at the Supreme Court. 'Not only is the entire amount taxable as per your slab, but if you haven't submitted your PAN, TDS (tax deducted at source) is deducted at 30 per cent.' What exactly gets taxed? Both employee and employer contributions, and the interest earned on them, become taxable income under Section 192A of the Income-tax Act, 1961. The Employees' Provident Fund Organisation (EPFO) deducts TDS if the withdrawal is more than Rs 50,000, said Gehrana. Kunal Savani, partner at Cyril Amarchand Mangaldas, said: 'The employer's share along with interest becomes taxable as profits in lieu of salary. While the employee's own contribution may be tax-free, interest on it could still be taxable, especially if thresholds are crossed.' Are there exceptions? Yes. Tax is not applicable if the withdrawal is due to ill health, business closure, or reasons beyond the employee's control. In such cases, the law provides relief. Also, once an individual completes five years of continuous service or withdraws PF after retirement, the entire amount is tax-exempt under Section 10(12) of the Income-tax Act. Mistakes to avoid Withdrawing PF instead of transferring it when switching jobs Not maintaining five years of cumulative service Failing to submit PAN, leading to higher TDS Assuming Form 15G/H always prevents TDS (they work only if income is below the taxable limit) Treat PF as long-term asset 'Instead of withdrawing PF early, transferring the account to the new employer preserves service continuity and tax benefits,' said Gehrana. He recommended maintaining documents to support your case in the event of a tax notice. A recent X post by tax professional Sujit Bangar summed it up aptly: 'Withdrawing PF after resigning job? If you've not completed 5 years, the entire amount is taxable. 30 per cent TDS. Don't act in a hurry.' Transfer your PF account when changing jobs to maintain service continuity and qualifying for tax-free withdrawals after five years. Avoid full withdrawals unless absolutely necessary. Instead, opt for partial advances allowed for medical, housing, or education needs, which are typically not taxable. Time your withdrawal in a financial year when your total income is below the taxable limit to reduce or eliminate tax burden. Submit Form 15G or 15H, if eligible, to avoid TDS on withdrawals below the tax threshold.
India.com
17 minutes ago
- India.com
Meet man who runs family business worth Rs 837520000000000, owns fleet of luxury cars, shares close relationship with Mukesh Ambani, Isha Ambani, he is…
Meet man who runs family business worth Rs 837520000000000, owns fleet of luxury cars, shares close relationship with Mukesh Ambani, Isha Ambani, he is… Anand Piramal, son-in-law of billionaire Mukesh Ambani and Nita Ambani, is the Executive Director at the Piramal Group. He is an important member of the Piramal group responsible for leading its financial services and real estate businesses. Valued at Rs 83,752 crore, the Piramal Group spans sectors such as real estate, healthcare, financial services, and pharmaceuticals. Under his leadership, the retail lending business has become one of the fastest-growing large retail NBFCs in the country, serving over 4 million customers across the country. Speaking of his educational qualifications, Anand Piramal, husband of Isha Ambani, pursued his master's degree in business administration from Harvard Business School. Not only this, but Anand earned a bachelor's degree in economics from the University of Pennsylvania. In 2024, he was recognised as one of India's '40 under 40' young leaders by The Economic Times and Fortune India. Meet man who runs family business worth Rs 837520000000000, owns fleet of luxury cars, shares close relationship with Mukesh Ambani, Isha Ambani, he is… According to the official website, Piramal Group is a global business conglomerate with diverse interests in pharmaceuticals, financial services, and real estate, with offices in 30 countries and its products sold in more than 100 markets. Although Anand Piramal's net worth isn't publicly available online, his father Ajay Piramal's net worth is said to be reportedly at $2.8 billion (around Rs 25,000 crore). According to Forbes, Ajay Piramal's net worth as per real time is estimated to be $ 3.4 B. He is ranked 1,172nd on Forbes' World's Billionaires List: The Richest in 2025. As a wedding gift, Anand and Isha were presented with a luxurious 50,000 sq ft residence named 'Gulita' in Mumbai's Worli area by their parents. Worth $100 million in 2022, the house has three basements, several dining rooms, an outdoor pool, a garden, a grand hall, and a diamond-themed bungalow. Anand also possesses a massive collection of luxury cars, including a Mercedes Maybach 3600 (Rs 10 crore), Aston Martin Rapide (Rs 3.29 crore), Lamborghini Gallardo (Rs 3 crore), Mercedes-Benz S350D (Rs 1.4 crore), and Range Rover Sports (Rs 1 crore). Isha and Anand tied the knot in December 2018 and are considered one of India's most powerful business couples. Anand's success and luxurious lifestyle are the result of his hard work and sharp business decisions
Pink Villa
23 minutes ago
- Pink Villa
‘Rajinikanth, Chiranjeevi and NTR became stars with Bollywood remakes': RGV on South films' glory
Ram Gopal Varma recently commented on superstars Rajinikanth, Chiranjeevi, Sr NTR and their popularity. The filmmaker highlighted that the South stars enjoy the glory they have today because of the remakes of Bollywood ventures back in the day. In an interview with India TV, RGV said, 'In the beginning, all four South Indian movie industries remade Amitabh from the 70s and 80s. Stars like Rajinikanth, Chiranjeevi, N T Ramarao and Rajkumar gained fame by acting in such remakes.' Continuing his remarks about films during the career gap Big B took during the 1990s, the filmmaker revealed that many music companies were producing movies to promote their soundtracks. RGV concluded his words with a comparison between young Bollywood filmmakers during the 1990s. The director revealed how many of them were interested and would easily connect with international films due to their English proficiency. However, on the other hand, South Indian cinema producers in the 1990s did not have the same interest in global cinema and mostly focused on making films that had a story with mass appeal. Recently, RGV made the headlines for an entirely different reason after his appearance with Anurag Kashyap in a podcast interview. During their conversation, the filmmakers were commenting on the extensive use of VFX and high production costs. With Kashyap detailing about the same, the Shiva director commented by taking his own film's example and said, 'I never consciously thought of making Satya at low cost. I was spending what was required, and it created authenticity and realism. If I had spent Rs. 5 crores more, Satya's quality would have been five times less.' Coming to RGV's work front, the filmmaker was last seen helming the project Saaree, a psychological thriller which received panned reviews from the audience and critics. Moreover, the filmmaker had made a cameo appearance in the film Kalki 2898 AD, starring alongside Prabhas. The movie directed by Nag Ashwin was an epic sci-fi film, taking its origins from the mythology of the Mahabharata. Apart from Prabhas, the movie had actors like Deepika Padukone, Amitabh Bachchan, Kamal Haasan, and more in pivotal roles.
