Ashwini Vaishnaw flags off global partnerships for upcoming Indian Institute of Creative Technology
The Union Information and Broadcasting (I&B) Ministry on Saturday (May 3, 2025) unveiled the vision for the Indian Institute of Creative Technology (IICT), an upcoming Mumbai-based national centre of excellence dedicated to the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industry (CII).
On the third day of the WAVES (World Audio Visual and Entertainment) summit, Information and Broadcasting Minister Ashwini Vaishnaw flagged off the institute's partnerships and long-term collaborations with global industry leaders, including JioStar, Adobe, Google and YouTube, Meta, Wacom, Microsoft, and Nvidia. These companies have agreed to provide support to the IICT in curriculum development, internships, scholarships, start-up funding, and job placements, Mr. Vaishnaw said.
Representatives from IICT signed several Letters of Intent at the event, including with Jiostar, Adobe, Google, YouTube, and Meta.
Speaking on the occasion, Mr. Vaishnaw said the IICT was on track to evolve into a premier institution in its field, on the lines of the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs).
'We have started an initiative which is completely novel in the world of film and entertainment. This [initiative] follows the vision of our Prime Minister that India can take the global lead in the world in the media and entertainment sector,' he said.
Industry leaders present on the occasion included Richard Kerris of Nvidia, Sanjog Gupta of JioStar, Mala Sharma of Adobe, Preeti Lobana of Google India, Rajiv Malik of Wacom, Sandeep Bandivdekar of Microsoft, and Sunil Abraham of Meta. Also present were members of the IICT's Board, and Governing Council, including Ashish Kulkarni, Biren Ghosh, Manvendra Shukul, Munjal Shroff, Chaitanya Chinchlikar, and Subhash Sapru.
Union Minister of State for I&B L. Murugan, I&B Secretary Sanjay Jaju, and Press Information Bureau Principal Director General Dhirendra Ojha attended the event too.
Meanwhile, WAVES Bazaar 2025 garnered deals worth over ₹250 crore, a figure that is projected to cross ₹400 crore by the end of the summit on Sunday. In its inaugural edition, WAVES Bazaar brought together leading AVGC-XR players from over 22 countries, including South Korea, Japan, the U.S., Germany, Russia, the Netherlands, and New Zealand.
WAVES Bazaar witnessed participation from 95 global buyers and 224 sellers. Key buyers included Netflix, Amazon Prime Video, Meta, Disney Star, Zee Entertainment, Banijay Asia, Warner Bros. Discovery, SonyLIV, Yash Raj Films, Dharma Productions, Jio Studios, Rotterdam Film Festival, and Rushlake Media.
In all, 115 filmmakers presented their completed works to international buyers and 15 projects were picked up as top selections. Of the 104 project submissions, 16 curated projects were selected to be pitched live, offering early-stage creators a platform to engage directly with industry stakeholders.
On Friday, winners of 32 creative contests under the 'Create in India' programme were announced. Over 750 finalists from more than 60 countries converged at the event. The programme also saw participation from over than 1,100 international candidates.
Mr. Vaishnaw and Mr. Murugan congratulated the young creators on their achievements.
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