India has intensified its efforts to position itself as a global leader in the Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR) sector by launching dedicated digital platforms and strengthening industry-academia collaboration through a national centre of excellence. The Ministry of Information and Broadcasting has introduced two key digital initiatives—WAVES Bazaar and WaveX—to support businesses, startups, creators and investors while enhancing India’s creative economy.
The initiatives are designed to encourage innovation, attract investments, create employment opportunities and expand the country’s presence in the rapidly growing global media and entertainment industry. The information was shared by Minister of State for Information and Broadcasting and Parliamentary Affairs, Dr. L. Murugan, in a written reply to an Unstarred Question in the Lok Sabha.
WAVES Bazaar to Connect Global Media and Entertainment Businesses
The Ministry has established WAVES Bazaar as a year-round digital marketplace aimed at strengthening business opportunities across the Media and Entertainment sector. Unlike traditional trade events that operate for a limited period, the platform will function continuously, allowing businesses and creators to connect throughout the year.
WAVES Bazaar has been developed to facilitate structured business discovery and business-to-business (B2B) interactions among industry stakeholders. It is expected to help companies identify potential partners, investors and clients while expanding their reach in domestic as well as international markets.
The platform covers a wide range of creative industries, including films, animation, visual effects (VFX), gaming, extended reality (XR), immersive media, music and digital content. Through these sectors, the government hopes to promote greater collaboration between Indian companies and global enterprises.
In addition to networking opportunities, the platform also focuses on market access, investment facilitation and international partnerships, helping Indian creative businesses compete on a global scale.
WaveX to Empower Startups Through Industry Support
To encourage innovation in the creative technology ecosystem, the Ministry has also introduced WaveX, a dedicated platform designed specifically for startups in the Media and Entertainment sector.
WaveX serves as a bridge between emerging startups, investors, incubators and industry partners. While it does not directly provide financial assistance, the platform enables entrepreneurs to access funding opportunities through investor connect programmes and networking initiatives.
The platform also supports startups through incubation programmes, mentorship opportunities and pitching sessions that help innovators present their ideas before investors and industry experts.
By bringing together startups and established industry players, WaveX is expected to accelerate innovation in areas such as gaming, immersive experiences, animation technologies, digital storytelling and creative content development.
IICT Emerges as National Centre of Excellence
The Government has also established the Indian Institute of Creative Technologies (IICT) as the National Centre of Excellence for the AVGC-XR sector.
IICT has been created in collaboration with the Government of Maharashtra and several industry bodies with the objective of strengthening India’s creative technology ecosystem through education, research and industry partnerships.
The institute is expected to become a key hub for advanced learning, skill development and innovation in animation, gaming, visual effects, comics and extended reality technologies.
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The establishment of IICT reflects the government’s long-term strategy to create a skilled workforce capable of meeting the growing demands of the global digital entertainment industry.
Global Partnerships to Enhance Skills and Innovation
A significant feature of IICT is its collaboration with leading international technology companies and academic institutions.
These partnerships focus on curriculum co-development to ensure that educational programmes remain aligned with evolving industry requirements. Students and professionals will benefit from specialized skill development programmes, exposure to advanced technologies and research opportunities.
The collaborations also provide access to internships, startup incubation, scholarships, industry mentorship and international skill exchange programmes. Such initiatives are expected to improve employability while encouraging innovation and entrepreneurship among young professionals.
By integrating academic excellence with practical industry exposure, IICT aims to produce a highly skilled workforce capable of competing in global creative technology markets.
Boosting India’s Global AVGC-XR Ambitions
The combined efforts through WAVES Bazaar, WaveX and IICT represent a comprehensive strategy to strengthen India’s AVGC-XR ecosystem.
With the global animation, gaming and immersive technology industries witnessing rapid expansion, India is seeking to position itself as a preferred destination for content creation, technology development and digital innovation.
Government-backed initiatives focusing on business networking, startup support, international collaboration and advanced skill development are expected to generate new employment opportunities while attracting domestic and foreign investments.
Industry experts believe these measures will encourage greater participation from startups, established studios, educational institutions and technology companies, creating a stronger ecosystem for innovation and creative excellence.
As India’s digital economy continues to expand, the government’s focus on AVGC-XR is expected to play an important role in making the country a global hub for creative technologies and next-generation media production.
The details of these initiatives were officially shared by Minister of State for Information and Broadcasting and Parliamentary Affairs, Dr. L. Murugan, through a written reply in the Lok Sabha, reaffirming the government’s commitment to supporting innovation, skill development and global competitiveness in the Media and Entertainment sector.
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