♦ Prime Minister Narendra Modi  inaugurated World Audio Visual & Entertainment Summit (WAVES) 2025 at the Jio World Centre in Mumbai on 1 May 2025.

♦ He released commemorative postage stamps in honour of five legendary figures from Indian cinema — filmmaker Guru Dutt, actress P. Bhanumathi, director Raj Khosla, filmmaker Ritwik Ghatak, and music composer Salil Chowdhury, at the summit.

♦ WAVES 2025 is structured around four core pillars: Broadcasting & Infotainment, AVGC-XR (Animation, Visual Effects, Gaming, Comics, and Extended Reality), Digital Media & Innovation, and Films.

♦ The four-day global summit, hosted by the Government of India, brings together leading figures from the fields of media, technology, and entertainment, highlighting the country’s growing stature in the global creative economy.

♦ Union Minister of Information and Broadcasting Ashwini Vaishnaw announced the launch of the Indian Institute of Creative Technology (IICT) in Mumbai during the WAVES 2025 event, positioning it as a national-level initiative to boost animation, gaming, and digital arts in India.

♦ The institute, envisioned as a national hub for Animation, Visual Effects, Gaming, and Comics (AVGC), has already commenced operations.