Nifty WavesIndex was launched today at the World Audio Visual & Entertainment Summit(WAVES)2025 in Mumbai by Chief Minister of Maharashtra Devendra Fadnavis. The Nifty Waves index comprises 43 listed companies that belong to the media, entertainment and gaming industry. With a diverse ecosystem spanning film, television, digital platforms, music and gaming, the Indian Media & Entertainment industry is undergoing a dynamic transformation, blending creative innovation with rapid technological adoption. Promoted by the Ministry of Information and Broadcasting (Government of India) and inaugurated by Prime Minister of India Narendra Modi, the World Audio Visual & Entertainment Summit, known by the acronym WAVES, is a key forum for promoting discussions, collaboration, and innovation in the Media & Entertainment industry. The event brings together industry leaders, stakeholders, and innovators from across the world to discuss prospects, challenges, promote trade to India, and influence the sector's future. WAVES is a groundbreaking event designed to propel India's Media & Entertainment (M&E) industry to even greater heights.  The weight of each stock in the Nifty Waves Index is based on free float market capitalization subject to a cap of 5%. The base date for the index is April 01, 2005, and the base value is 1000. The index will be reconstituted semi-annually and rebalanced on a quarterly basis. Devendra Fadnavis, Chief Minister of Maharashtra, said, “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.” Ashishkumar Chauhan, MD & CEO, National Stock Exchange of India commenting on the Nifty Waves index said, ‘We are proud to introduce the Nifty Waves index, designed to provide deep insights into the performance of one of India’s most dynamic sectors. It offers usa benchmark to understand market trends and unlock the full potential of India’s creative economy.’ For more information on index methodology and factsheet, please visit us at www.niftyindices.com or www.nseindia.com.