World's stage is shifting and India is in the frame: Mukesh Ambani

“The day is not far when India will become the entertainment hub of the world,” Mukesh Ambani, chairman and managing director of Reliance Industries, said in his keynote address at the World Audio Visual and Entertainment Summit (WAVES).

 

He added, “We are living in an era of global media transformation when two major shifts have reshaped the creative industry globally.” The first is geoeconomic, and the other is technological.

 

The economic power of the Global South, which accounts for 85 per cent of the world’s population, is rapidly rising. This means that the majority of media and entertainment creation and consumption will increasingly take place in Asia, Africa, and South America, he said.

 

He further added that India holds the real power, as culture and the arts have the ability to unite the world.

 

Ambani observed that India’s media and entertainment industry is valued at $28 billion and has the potential to reach $100 billion in the next decade, offering vast opportunities in employment and entrepreneurship across diverse fields.

 

“To achieve this, India must invest in state-of-the-art content clusters across the country. India should train tens of thousands of young talents in animation, visual effects (VFX), and other technologies,” Ambani said, adding, “India should incentivise intellectual property (IP) creation, artificial intelligence (AI)-driven innovation, and gamification. We must create new investment avenues for this sector and develop a regulatory environment that fosters imagination and inclusivity.”

 

He also suggested that the top content creators in India must start viewing the world as their market, creating content for global audiences and supporting regional creators in reaching international platforms.

 

In discussing his third point, Ambani observed that Indians should forge partnerships with innovative entrepreneurs, artistes, and studios worldwide.

 

Turning to technology and AI, Ambani said that these tools are having a transformative impact on the creative economy.

 

“These technologies are reshaping the entire value chain, from content creation to distribution and monetisation,” Ambani said, adding, “AI tools are dissolving the boundaries between dream and reality, between imagination and execution. They can enhance content a thousandfold and deliver it simultaneously to millions of screens across cinemas, homes, and mobile devices across geographies and languages.”

 

He further remarked that the current revolution AI is bringing to entertainment is far more revolutionary than the advent of silent film cameras and cinema a century ago. 

 

Ambani pointed out that this rapidly evolving landscape offers three clear advantages: content, demography, and technology.

 

India is set to become the world’s third-largest economy, and this growth will position it as the largest global media and entertainment market.

 

Regarding technology, Ambani said that India is leading the charge in the technological revolution of media and entertainment.

 

He said that Indian VFX is powering Hollywood blockbusters. “We produce millions of hours of content annually... We are multilingual, multi-format, and multi-platform by design,” Ambani said.

 

India’s digital infrastructure, built on 5G and soon to be elevated to 6G, combined with 1.2 billion mobile phones, provides an unprecedented opportunity: 1.2 billion potential screens for accessing entertainment and sharing user-generated content. He added that Jio has played a crucial role in India’s digital and entertainment transformation by making high-speed internet affordable and accessible to all.

 

“With JioCinema, we’ve shattered viewership records, redefined IP streaming, and set a global standard for immersive, multi-language, interactive sports viewing. And this is just the beginning. Jio’s partnership with Disney signals the start of a new era in digital storytelling,” he said in his keynote address.

 

On JioHotstar, Ambani said that the company aims to match, and even surpass, the impact of the world’s leading entertainment creators. “JioHotstar will provide a platform for the brightest talent from both India and abroad.”

 

“Its technology stack is unparalleled. In essence, JioHotstar is committed to establishing India as a leader in the global entertainment sector,” he said.

 

He also pointed out that the world today is highly polarised and filled with uncertainty.

 

“People worldwide are hungry for entertainment that is healthy, wholesome, and offers hope and happiness. India is in a unique position to fulfil this need better than any other country.”