NSE Launches Nifty WAVES Index for Media

NSE Launches Nifty WAVES Index for Media

Why in the News ?

The National Stock Exchange (NSE) has introduced the Nifty WAVES Index, covering 43 listed firms in India’s media, entertainment, and gaming sectors, to provide sectoral insights and reflect the growth potential of India’s creative economy.

NSE Launches Nifty WAVES Index for Media

About Nifty WAVES Index:

  • Launched by NSE at the World Audio Visual & Entertainment Summit (WAVES) 2025.
  • Index comprises 43 listed companies from media, entertainment, and gaming
  • Aims to capture the dynamics of India’s cultural economy.
  • Free-float market capitalisation determines each stock’s weight (capped at 5%).
  • Base date: April 1, 2005; Base value: 1,000.
  • Index will be reconstituted semi-annually and rebalanced quarterly.

Cultural and Economic Significance

  • Maharashtra CM Devendra Fadnavis called WAVES a bridge between India’s heritage and digital future.
  • Described India’s imagination, stories, and music as the next major export strength.
  • The index is a tool to track sectoral performance and encourage innovation.
  • Expected to motivate entrepreneurs and draw investments into the creative sector.
  • Reflects India’s growing global soft power and creative potential in the digital age.

World Audio Visual and Entertainment Summit (WAVES) 2025 Highlights :

●Inaugural Summit: Held in Mumbai, with the Prime Minister emphasizing India’s creative economy as a key driver of GDP growth, innovation, and inclusive development.

●Market Potential: WAVES aims to unlock a $50 billion market by 2029, positioning India as a major player in the global entertainment economy.

● Indian Institute of Creative Technology (IICT): Announced as a National Centre of Excellence, established by the Ministry of Information and Broadcasting in partnership with FICCI & CII.

●Creative Economy Definition: Encompasses sectors like Media & Entertainment, Advertising, Animation, Gaming, and XR technologies, contributing to global economic growth.

● India’s Creative Economy: Contributes $30 billion to GDP, employs 8% of the workforce, and exports exceed $11 billion annually.

●Challenges: Issues include misinformation, copyright, IP concerns, privacy, market monopolization, rural digital access, and financing gaps.

●Government Initiatives:
○Creative Economy Fund: $1 billion fund to support the sector.
○AIICE: Initiative by the Indian Chamber of Commerce to harness creative industry potential.
○National Creators Award: Recognizes and promotes digital content creators.