World's stage is shifting — and India is in the frame: 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).

- ROSHNI SHEKHAR

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.