Mumbai to establish Indian Institute of Creative Technology in Film City, Centre to provide ₹400cr

Mumbai is set to host the Indian Institute of Creative Technology (IICT) in Goregaon’s Film City, following a ₹400 crore grant from the central government. Maharashtra Chief Minister Devendra Fadnavis announced the project at the inaugural session of the World Audio-Visual & Entertainment Summit 2025 (WAVES 2025) held at Sushma Swaraj Bhavan in New Delhi on Sunday. The institute will be modelled after the Indian Institutes of Technology (IITs) and is expected to position Mumbai as a global hub for creative technology.

Fadnavis stated that the IICT would serve as a leading centre for innovation in the creative technology industry. "This project will not be limited to Maharashtra but will become a milestone for India’s creative technology sector. IICT will not just be an educational institution but a leading centre driving innovation in the creative technology industry. It will elevate India to the global stage in this domain," he said.

IICT will focus on a range of creative fields, including film production, digital content, visual effects (VFX), animation, audio-visual storytelling, media innovation, and Web 3.0 technology. The Maharashtra government has allocated land within Film City in Goregaon for the institute.

Fadnavis also highlighted that the institute would provide a global platform for India’s creative sector. "Just as Davos is crucial for the financial sector, this institute will create a global brand for the creative technology sector,” he said.

The announcement was made alongside the signing of a Memorandum of Understanding (MoU) between the Union Ministry of Information and Broadcasting and the Maharashtra government for the WAVES 2025 initiative. Maharashtra has been granted the hosting rights for the summit, which will take place from 1 to 4 May 2025 at the Jio Convention Centre in Mumbai.

WAVES 2025 is expected to attract participation from over 100 countries and serve as a major platform for professionals from broadcasting, film, animation, gaming, digital media, music, advertising, and social media. The summit will feature three key initiatives: WAVES Bazaar, a marketplace for investment opportunities; WAVES Accelerator, a hub to support new innovations; and Creatosphere, a collaborative space for idea exchange.

Fadnavis expressed gratitude to Prime Minister Narendra Modi for granting Maharashtra the hosting rights for WAVES 2025. He noted that Mumbai, already a major centre for Bollywood and the entertainment industry, would further strengthen its position in the global creative economy through the establishment of IICT and the WAVES 2025 summit.