$1 bn fund to boost creators' economy

UNION Minister for Information and Broadcasting (I&B) Ashwini Vaishnaw on Thursday announced a $1 billion dedicated fund to empower talented creators and boost the creator economy.

- PARVEZ SULTAN @New Delhi

"Basically, it is to make sure that all our energetic creators—using the latest technologies today—will be able to access the capital and hone their skills and upgrade production level to reach out to the international market," said the minister.

He was speaking on the sidelines of a high-level session held in New Delhi with about 100 foreign diplomats, including ambassadors and High Commissioners, to introduce the ministry's first World Audio Visual & Entertainment Summit (WAVES).

The event sought to engage the international community before the Summit and ensure maximum foreign participation. The four-day Summit will take place in Mumbai starting on May 1.

Vaishnaw said the fund will be implemented through a Public-Private Partnership (PPP) model, and modalities will be released later.