Australian, UK varsities to set up campuses in Navi Mumbai

Chief Minister Devendra Fadnavis and Managing Director of the National Stock Exchange Ashish Chauhan at the WAVES 2025.

Mumbai: Two leading universities from Australia and the United Kingdom on Friday signed an agreement with state government to set up their campuses in Navi Mumbai, CM Devendra Fadnavis said.

The projects envisage an investment of Rs 1,500 crore in each campus, Fadnavis told reporters at the World Audio Visual and Entertainment Summit (WAVES).

The campuses will come up at Educity, the mega education hub launched by the City and Industrial Development Corporation of Maharashtra in Navi Mumbai, Fadnavis said. Educity will have campuses of 10 to 12 top world universities which figure in the global top 100 ranking, he said.

“Today, MoUs were signed with the University of Western Australia and University of York to set up their campuses in Educity,” Fadnavis said.

Talks have been finalised with three more universities to set up campuses in Educity, he said, adding discussions are underway with five other foreign universities.

Nifty Waves index

The National Stock Exchange (NSE) on Friday announced the launch of Nifty Waves Index, comprising 43 listed companies that belong to the media, entertainment, and gaming industry.

The new index is designed to provide deep insights into the performance of one of the country's most dynamic sectors.

With a diverse ecosystem spanning film, television, digital platforms, music, and gaming, the Indian media and entertainment industry is undergoing a dynamic transformation, blending creative innovation with rapid technological adoption. "India's next significant export is its imagination --our stories, music, innovation, and creative spirit. Through WAVES, we are building a bridge between our rich cultural heritage and our boundless digital future. The launch of the Nifty Waves Index has provided us with a tool to measure success in this field and inspire many more entrepreneurs," Fadnavis said.

The weight of each stock in the Nifty Waves Index is based on free float market capitalisation subject to a cap of 5 per cent. The base date for the index is April 1, 2005, and the base value is 1,000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis.

Ashishkumar Chauhan, MD & CEO, NSE said, "The Nifty Waves index is designed to provide deep insights into the performance of one of India's most dynamic sectors. It offers us a benchmark to understand market trends and unlock the full potential of India's creative economy".

Bollywood actor Shraddha Kapoor and Head Instagram at Meta Adam Mosseri during a session at WAVES 2025. Pic: PTI

Stars speak up

Speaking at a session, The Journey: From Outsider to Ruler, superstar Shah Rukh Khan recalled that his young self was a “bit brash, a bit overconfident and a bit reckless.” But he also acknowledges that that very confidence led him to take the path to what he’s achieved today. “So yes, thank you, young Shah Rukh Khan, for being so cool,” he quipped. The actor also underscored the power of laughter saying that if you can make your children—or your parents—laugh, “you will never be lonely”. Actor Kareena Kapoor Khan, while talking about why she’s never ‘chased’ English films, recounted an anecdote that shows the soft power and global reach of Indian cinema. She was dining at a restaurant when legendary Hollywood filmmaker, Steven Spielberg, came up to her and asked “Are you the girl who’s in that very famous Indian film about three students?’ I said, ‘Yes, that’s me.’ He said, ‘My God, I love that movie',” said the popular actress who carries forward the Hindi movie legacy of her filmmaker grandfather Raj Kapoor. Aamir Khan revealed an interesting fact—that in a film-obsessed country, “only 2 per cent of India’s population has access to watch movies in a theatre”. While speaking at a session called Studios of the Future, he ‘PK’ actor stressed on the need for more cinema halls. “My belief has always been that we need to have a lot more theatres in India. There are so many vast districts in India that don’t have a single theatre for people to watch films. I feel that one of the biggest issues that we have faced over decades is that we just don’t have enough screens,” he said.

Nita Ambani, founder and chairperson of the Reliance Foundation, hailed India as a blend of heritage and innovation, emphasising that India is home to the sacred sound of ‘Om’ and to Sanskrit which forms the foundation of several languages.

Institute of Creative Technology

Goregaon will be home to the Indian Institute of Creative Technology, to be set up by the Information and Broadcasting Ministry along with industry bodies such as FICCI and CII. Modelled on the lines of India’s top-tier institutions like IITs and IIMs, the IICT will offer specialized programs in VFX, animation, gaming, XR, and AI-driven storytelling.

"The truth is that the world is essentially, intrinsically and essentially diverse, and that pluralism has been suppressed in the past by both colonialism and big power dominance. As we seek now to democratise the international system, it is not enough to just assert political and economic independence. It is equally essential that we give voice to our traditions, to our heritage, to ideas, to practices, and to our creativity.”

S Jaishankar, Minister, External Affairs

"As a government, we must provide a fair chance for everyone to showcase their story to the world. We must incentivise local content promotion and enforce IP framework among other things. Focus is shifting towards local stories. We aim to build people-to-people and country-to-country exchanges. Tie-ups with government, industry and creators have, therefore, become indispensable. Practical steps include co-production treaties to ease licences and talent movement. We need joint funds for new tech, shared standards, and clear rules for ethical AI.”

Ashwini Vaishnaw, Minister, Information and Broadcasting

“We remain the home of the creator economy. Over the last three years, we've paid out over Rs 21,000 crore to creators and partners, media companies and music labels here in this market that creates the foundation for the great growth of the creator economy. I think the numbers show that our goal is to continue to provide the best tools possible, including leveraging AI to improve creation capabilities for our creators and provide them with multiple ways for them to generate revenue. Creators care about fame and fortune and if we can enable both of those then we remain the home for them.”

Gautam Anand, Vice President, YouTube Asia Pacific