Creative economy hub to come up in Malad: CM Fadnavis

This hub, along with the recently announced Indian Institute of Creative Technology (IICT) that will be set up at Film City, would make Mumbai an international centre for the creative economy, said Fadnavis

Mumbai: Maharashtra chief minister Devendra Fadnavis on Friday announced that a creative economy hub will be developed on a 240-acre plot in Malad owned by the Information and Broadcasting (I&B) ministry. This hub, along with the recently announced Indian Institute of Creative Technology (IICT) that will be set up at Film City, would make Mumbai an international centre for the creative economy, he added.

**EDS: THIRD PARTY IMAGE** In this image released by @CMOMaharashtra via X on Friday, April 11, 2025, Union Minister Ashwini Vaishnaw with Maharashtra Chief Minister Devendra Fadnavis witness the signing and exchange of MoU between Government of India and Government of Maharashtra for the development of Indian Institute of Creative Technology (IICT). (@CMOMaharashtra on X via PTI Photo) (PTI04_11_2025_000214B) (@CMOMaharashtra)

The chief minister made the announcement while addressing the media at the Jio World Convention Centre in the Bandra Kurla Complex in the presence of Union information and broadcasting minister Ashwini Vaishnaw. The duo also reviewed the preparations for the first World Audio Visual and Entertainment Summit (WAVES), which will be held at the convention centre from May 1 to 4.

Fadnavis said the government wants to make Mumbai not just India’s but the world’s entertainment capital. “The state and the central government have collaborated to develop the biggest infrastructure for the creative economy in the world. We will create world-class infrastructure for the creative world that includes [shooting] movies and post-production, among other facilities,” he added.

When asked about the Uttar Pradesh government’s attempt to attract Bollywood by setting up the Noida Film City, Fadnavis said he was confident that Mumbai’s film industry will not move anywhere.

“Any state can develop a film city; there is no prohibition. But the natural ecosystem for films is in Mumbai, and it’s difficult to be created anywhere else. We welcome those setting up shooting sets [elsewhere], but it is not possible that Mumbai’s film industry will move to any other place. In contrast, whatever we have decided to create here will compel the film and entertainment industry of the world to come to Mumbai,” he said.

The chief minister also revealed that the central and the state governments have signed a memorandum of understanding to set up the Indian Institute of Creative Technology (IICT) at Film City. This will be the most premium institution of creative technology in the country and will be developed through a public-private partnership, he said. “We have allotted land at Film City. The state government, central government, Federation of Indian Chambers of Commerce and Industry (FICCI) and other institutions will together develop it, which will be one of its kind in the country. It will help us lead the creative world,” he added.

Talking about WAVES 2025, I&B minister Vaishaw said the government wants to make it the biggest summit for audio-visual entertainment in the world. “Maharashtra and Mumbai have been the capital of the creative economy [in India] for the last 100-odd years. Now, technology is changing. In this changing era, the prime minister wants Mumbai to continue to lead and, thus, he brought the concept of WAVES,” Vaishnaw added.

Mumbai will be the permanent venue for the annual summit, which will boost the country’s creative economy in terms of wealth and job creation, Vaishnaw said. Around 5,000 delegates, including heads of state, senior ministers and private players from 100 countries are expected to attend the summit.