Government Announces $1 Billion Fund to Boost India’s Creator Economy
In a significant move to empower digital content creators, the Union Minister for Information and Broadcasting, Ashwini Vaishnaw, announced the creation of a $1 billion fund aimed at bolstering India’s rapidly growing creator economy. The announcement was made during a press briefing on the upcoming World Audio-Visual and Entertainment Summit (WAVES) 2025, scheduled to be held in Mumbai from May 1 to 4, 2025.
The fund is designed to provide digital content creators with access to capital, enabling them to enhance their skills, upgrade production capabilities, and tap into global market opportunities. “This $1 billion fund will ensure that our energetic creators, who are leveraging the latest technologies, can hone their skills, produce high-quality content and reach a global audience,” Vaishnaw said.
The minister emphasized that WAVES 2025 will serve as a platform for creators to showcase their talent and produce high-value content. The summit, a first-of-its-kind initiative by the Ministry of Information and Broadcasting, aims to foster global cooperation in the media and entertainment (M&E) sector.
India’s Booming Creator Economy
The announcement comes at a time when India’s creator economy is experiencing unprecedented growth, fueled by rising internet penetration and increasing disposable incomes. According to Inc42’s Indian Tech Startup Funding Report 2024, the number of online shoppers in India has surged to over 294 million, making e-commerce a dominant force in the retail landscape.
Brands across sectors such as beauty and personal care, food and beverage, fashion, jewelry, and electronics are increasingly collaborating with digital influencers and content creators to expand their audience base. Data from influencer intelligence platform Qoruz reveals that India is home to more than 4 million influencers, highlighting the scale of the creator ecosystem.
A 2023 report by tech giant Meta underscored the growing influence of social media in shaping consumer behavior, with a majority of surveyed Indian online shoppers discovering beauty brands through social media platforms. Recognizing the potential of this trend, e-commerce major Amazon launched creator-focused initiatives like Creator University and Creator Connect in 2022 to support and nurture content creators.
A Global Stage for Indian Creators
The $1 billion fund and WAVES 2025 are expected to provide a significant impetus to India’s creator economy, enabling creators to compete on a global scale. By offering financial support and a platform to showcase their work, the government aims to position India as a hub for innovative and high-quality digital content.
“This initiative is not just about funding; it’s about empowering our creators to tell Indian stories to the world,” Vaishnaw added. “WAVES 2025 will be a landmark event that brings together creators, industry leaders and policymakers to shape the future of the global media and entertainment industry.”
As India’s digital landscape continues to evolve, the $1 billion fund and WAVES 2025 signal a new era of opportunities for content creators, reinforcing the country’s position as a key player in the global creator economy.