I&B Ministry
Launch of US$ 100 mn Pan-Asia Project Development Fund
Mumbai, January 19th, 2006, In the presence of Mr. P. Chidambaram, Honorable Finance Minister, Government of India, Mr. Y. Miyauchi, Chairman & Chief Executive Officer, ORIX Corporation (ORIX), Japan, one of the world’s largest financial services corporations, and Mr. Ravi Parthasarathy, Chairman & Managing Director of Infrastructure Leasing & Financial Services Limited (IL&FS), India’s leading infrastructure development and financing institution, have entered into a Joint Venture Agreement to jointly sponsor and manage the Pan Asia Project Development Fund (The Fund) with a target size of USD 100 million. IL&FS and ORIX have each committed USD 10 million to the Fund, which will fund the development of infrastructure projects in principal Asian markets such as Indonesia, The Philippines, Malaysia, Thailand, Vietnam and other Asian countries, including India.
Given the strong economic growth in India, local companies have successfully demonstrated capabilities in developing infrastructure projects in Asia. Due to their inherent cost advantages and technical competencies, Indian companies are increasingly gaining a strong foothold in the Asian infrastructure arena vis-?-vis their western counterparts. Similarly, Japanese companies have proprietary high-end technologies with the natural framework emerging for a mutually beneficial Indo-Japanese partnership. Speaking on this occasion, Mr. Anup Thakur, Economic Minister, Embassy of India in Japan, said, “We are very pleased with this initiative which is a true bi-lateral partnership between Indian and Japanese corporations. It is our expectation that a host of infrastructure initiatives with attendant project exports from the two countries could result from this effort.”
Infrastructure projects require seed capital funding for converting the basic project concept into a bankable venture that incorporates aspects such as the privatization framework, technical and environmental studies, project cost, financial and legal structure, and financial viability. A rigorous project development exercise results in the project being ready for implementation, with bidders willing to pay a premium as these projects can be taken up for construction within a very short time period from the date of award of the bid, resulting in significant time and cost savings for the bidders. IL&FS has successfully developed, sponsored and implemented a large number of infrastructure projects in India, and had earlier set up the India Project Development Fund, which has been highly successful.
The Asian infrastructure sector offers attractive investment opportunities, and as per a study conducted by the World Bank, ADB, and JBIC, developing Asian countries alone would need to spend more than USD one trillion dollars over the next five years in various infrastructure sectors such as surface transport, urban infrastructure, communications and utilities.
The investment manager of the Fund is IL&FS Asian Infrastructure Managers Limited, a joint venture company set up by IL&FS Investment Managers Limited (“IIML”), the private equity investment arm of IL&FS and ORIX Corporation.
About ORIX Corporation, Japan:
ORIX is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 24 countries and regions worldwide, ORIX’s activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate-related finance, real estate, life insurance, and investment banking. As of March 31, 2005, ORIX had an asset book of USD 56.5 billion with revenues of over USD 8.5 billion. ORIX is listed on the Tokyo and New York Stock Exchanges. ORIX has significant presence in the entire South East Asian region and this presence can be leveraged with IL&FS project development expertise to jointly take forward and consolidate on the proposed activities of the Fund.
About IL&FS:
IL&FS is a multi-faceted organisation providing a range of fund and non-fund based financial services. IL&FS has been mandated with the commercialisation of infrastructure projects as well as providing a wide range of financial services. Broadly, its activities include financial services (including investment banking and asset financing), commercialisation of infrastructure projects and asset management. IL&FS has over the years established a unique positioning in the infrastructure sector in India, as a developer, sponsor, financier and facilitator. In the process, it has gained significant experience in project development, taking projects from “concept” to “commissioning” and has been able to establish linkages with a range of engineering, technology and contracting companies, both in India and overseas. IL&FS is currently working on the development of projects of an aggregate cost in excess of USD 10 billion.
About IIML:
IIML is one of India’s largest domestic private equity fund management companies, managing over US$ 400 million on behalf of leading Indian and international institutions. IIML presently manages an array of funds focused on investments across infrastructure, life sciences, manufacturing, information technology, and consumer services. IIML is a publicly traded investment management company with its shareholding divided amongst its Indian and International shareholders. While IL&FS is the principal shareholder, Bank of India and IFC, Washington are other prominent institutional shareholders
For further details, please contact:
Priyank Vashisht
Rediffusion DYR Public Relations
5605 7248 / 56827122Pan-Asia Project
I&B Ministry
MIB sets OTT accessibility rules, mandates captions and audio description
Platforms get three years to add features for hearing and visually impaired
NEW DELHI: The government has asked OTT platforms to make their shows easier to watch and hear. A new set of accessibility guidelines from the Ministry of Information and Broadcasting requires streaming services to add features for viewers with hearing and visual impairments.
The move follows the Rights of Persons with Disabilities Act, 2016, and is meant to bring streaming closer to the promise of equal access. In simple terms, if a film or series is coming to an OTT platform, it should not arrive empty-handed. It should come with captions for those who cannot hear well and audio descriptions for those who cannot see clearly.
The guidelines ask platforms to provide at least one accessibility feature each for hearing-impaired and visually-impaired viewers. That could be closed captions, open captions, Indian Sign Language interpretation, or audio description. The aim is to make content understandable without turning the viewing experience into a technical chore.
There is, however, a long runway. Platforms have up to thirty six months from the date of the guidelines to ensure that all newly released content carries these accessibility features. Older titles in their libraries are not under strict timelines, but companies are encouraged to add features gradually.
The rules also go beyond the show itself. User interfaces, whether on mobile apps, smart TVs or websites, must be designed to work with assistive technologies. Accessibility labels such as CC for captions, AD for audio description and ISL for sign language must be displayed clearly so viewers know what to expect before pressing play.
Some content types get a free pass. Live events, music, podcasts, and short form content like ads are exempt because of practical challenges in real time captioning and description.
OTT publishers will also need to file accessibility conformance reports. The first report is due three years from now, followed by quarterly updates. Complaints from viewers will follow a three tier system, starting with the platform itself, moving to self-regulatory bodies, and finally reaching a government monitoring committee if needed.
For the streaming industry, the message is clear. Accessibility is no longer a nice extra tucked away in settings. It is fast becoming part of the main feature, and in a country where streaming audiences run into the hundreds of millions, that could make a very big difference to who gets to enjoy the show.
I&B Ministry
I&B’s 2025 report card: Lights, camera, action — and Rs 4,334 crore
NEW DELHI: If 2025 was India’s year to make waves, the ministry of information and broadcasting (I&B) was its chief surfboard maker. Prime minister Narendra Modi’s call to “create in India, create for the world” wasn’t just ministerial hot air—it triggered a tsunami of creative dealmaking that swept from Melbourne to Madrid, generating Rs 4,334 crores in potential business discussions and putting Indian creators on every continent’s radar.
The centrepiece was Waves 2025, the World Audio Visual and Entertainment Summit, which drew over 90 countries, 10,000 delegates, and roughly 1 lakh punters through its doors. Modi himself dropped by to glad-hand young creators, describing the event as a “wave of culture, creativity and universal connectivity”—and for once, the hyperbole wasn’t entirely unwarranted.
The summit’s CreatoSphere platform, which sounds like something from a sci-fi novel but is actually a hub for film, VFX, animation, gaming, and digital media, launched the Create in India Challenges. Season one attracted over 1 lakh entries from more than 60 countries across 33 categories. Winners weren’t just handed certificates and sent packing—they performed at Melbourne, exhibited at Tokyo Game Show, and pitched at Toronto International Film Festival. I&B minister Ashwini Vaishnav handed out gongs to 150 creators, cementing the government’s commitment to nurturing what it calls the “creative economy.”
WaveX, the startup arm, proved equally industrious. It coaxed over 200 startups into its embrace, enabled 30 to pitch to Microsoft, Amazon, and Lumikai, and somehow got two of its charges—VYGR News and VIVA Technologies—onto Shark Tank India, where they presumably dodged the usual mauling. The initiative’s KalaaSetu and BhashaSetu challenges, focused on AI-driven video generation and real-time translation respectively, attracted over 100 startups and picked ten for collaboration with government media units.
Waves Bazaar, the “craft-to-commerce” global e-marketplace, went on a roadshow between August and December, hitting 12 international events across four continents and four domestic jamborees. The numbers are eye-watering: over 9,000 B2B meetings, 10 memoranda of understanding signed, three more proposed, and the launch of creative corridors with Japan, Korea, and Australia. The ministry claims Rs 4,334 crores in potential deals—potential being the operative word, though in India’s booming content market, optimism often precedes reality by only a few quarters.
On the bricks-and-mortar front, the Indian Institute of Creative Technology opened its temporary Mumbai campus in July with Rs 391.15 crores in budgetary support. The public-private partnership with Ficci and CII has enrolled over 100 students across 18 courses, incubated eight startups, and signed memoranda with Google, Meta, Nvidia, Microsoft, Apple, Adobe, and WPP—a who’s who of tech giants keen to tap India’s creative reserves. A permanent 10 acre campus at Film City, Goregaon, complete with an immersive AR/VR/XR studio, is in the works.
Elsewhere, the ministry set up a Live Events Development Cell to position India’s concert economy as a growth driver. A single-window clearance system is being built on the India Cine Hub platform to expedite permissions for fire, traffic, and municipal approvals—addressing the red-tape nightmares that have long plagued event organisers. Meanwhile, an inter-ministerial committee is tackling digital piracy, that perennial thorn in the creative economy’s side.
State broadcaster Doordarshan snagged the Election Commission’s media award for voter awareness during the 2024 Lok Sabha elections, presented by the president on National Voters’ Day. Community radio added 22 new stations, bringing the total to 551, with workshops and a national sammelan held during Waves to strengthen local broadcasting.
The 56th International Film Festival of India in Goa screened over 240 films from 81 countries, threw in the country’s first AI Film Festival, and staged a grand parade through Panaji that turned the event into a street-level celebration. The accompanying Waves Film Bazaar drew over 2,500 delegates from 40-plus countries and showcased 320 projects—making it one of South Asia’s largest film markets.
The Central Board of Film Certification modernised too, launching a multilingual certification module that allows multiple language versions under a single application, and mandating 50 per cent women’s participation on examining and revising committees. Digital signatures replaced wet ink, and certificates became downloadable—small victories in the fight against bureaucratic inertia.
India’s I&B ministry ended 2025 having turned content creation into something resembling an industrial policy. Whether Rs 4,334 crores in “potential” business materialises remains to be seen, but the ministry has built the infrastructure, corralled the startups, and put Indian creators on international stages. As Modi might say, the wave has been ridden. Now comes the hard part: keeping the momentum going when the cameras stop rolling.
I&B Ministry
Centre drafts OTT rules to boost access for hearing disabled
MUMBAI: The Centre has inched closer to making India’s streaming universe easier to watch, hear and enjoy for everyone. The Ministry of Information and Broadcasting has released draft guidelines that aim to standardise accessibility on OTT platforms, ensuring that viewers with hearing and visual impairments are no longer left out of the country’s digital entertainment boom.
Issued on 7 October and now open for public consultation, the draft rules arrive with constitutional and global backing. Minister of State for Information and Broadcasting L. Murugan told the Rajya Sabha that the framework draws from Article 14, the UN Convention on the Rights of Persons with Disabilities and the Rights of Persons with Disabilities Act, 2016. It also mirrors the Code of Ethics under the IT Rules, 2021.
At the heart of the proposal is a two-phase rollout of mandatory accessibility tools such as same-language closed captions and audio descriptions. The ministry said penalties and enforcement steps will be shaped after the consultation, but compliance will be tracked through progressive targets for OTT content libraries.
Parliament was also reminded that the broadcast sector has walked this path before. In 2019, the government notified accessibility standards for television programming, starting with Prasar Bharati and eventually extending them to private broadcasters.
With OTT viewership climbing across urban and small-town India, the draft rules attempt to bring streaming giants in step with a wider vision of inclusive media. The government hopes the move will help millions of Indians with disabilities press play without barriers.
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