Maharashtra CM Seals ₹5000 Crore Investment Deals at WAVES.

Maharashtra's thriving film and entertainment industry is set for a significant boost with the announcement of ₹5000 crore in investments from Godrej Fund Management and Investment Advisers and Prime Focus. The two companies formalized their investment plans by signing Memorandums of Understanding (MoUs) with Maharashtra Chief Minister Eknath Shinde on Friday.

The announcements were made on the sidelines of the World Audio Visual and Entertainment Summit (WAVES), highlighting the state's prominence in the media and entertainment sector.

Leading the investment drive is Prime Focus, a BSE-listed media and entertainment services company, which committed ₹3,000 crore towards the development of a state-of-the-art "film city." This ambitious project envisions a comprehensive entertainment facility that will cater to various aspects of filmmaking and content creation.

While the specific investment amount from Godrej Fund Management and Investment Advisers was not detailed in the initial announcement, their commitment contributes to the overall ₹5000 crore injection into Mumbai's entertainment infrastructure.

These significant investments are expected to create numerous job opportunities, enhance the technological capabilities of the local film industry, and further solidify Mumbai's position as a global hub for media and entertainment production. The establishment of advanced filmmaking facilities will attract more projects to the region and contribute to the state's economic growth.