At the grand stage of WAVES 2025 in Mumbai, Maharashtra Chief Minister Devendra Fadnavis unveiled the “Nifty Waves Index” — a stock index dedicated to India’s media, entertainment, and gaming sectors. This innovative index comprises 43 listed companies and represents the creative economy’s pulse, spanning across film, music, digital platforms, television, and gaming. Initiated under the aegis of the Ministry of Information and Broadcasting and inaugurated by Prime Minister Narendra Modi, WAVES is envisioned as a premier global platform for M\&E discourse.
The Nifty Waves Index uses a free-float market cap method with a 5% cap per stock and will be reviewed semi-annually and rebalanced quarterly. Fadnavis remarked that the index embodies India’s imagination economy, while NSE CEO Ashishkumar Chauhan emphasized its potential to guide investors through the vibrant M\&E sector.
