Did Maharashtra CM Fadnavis Acknowledge PM Modi for a Pioneering Collaboration in the Creative Sphere?

Key Takeaways

Universal Music India acquires 30% stake in Excel Entertainment.

Valuation of Excel Entertainment reaches Rs 2,400 crore .

CM Fadnavis emphasizes Mumbai's role in the global creative ecosystem.

Investment reflects India's matured creative economy.

Maharashtra promotes a conducive environment for global investors .

Mumbai, Jan 5 (NationPress) In a groundbreaking development for the entertainment sector, Universal Music India (UMI) has secured a 30 percent equity stake in the film and digital content studio Excel Entertainment, elevating the valuation of Ritesh Sidhwani and Farhan Akhtar's venture to Rs 2,400 crore.

This announcement was made during an event in Mumbai on Monday, attended by Maharashtra Chief Minister Devendra Fadnavis.

Thrilled about this announcement, the Chief Minister attributed the success of this transaction to Prime Minister Narendra Modi, who initiated the idea during the WAVES Summit 2025.

In a congratulatory tweet, he stated, "This Government has consistently believed in facilitating creativity, and a creative hub like Mumbai is the ideal location for such a significant agreement. Under the guidance of Hon PM Narendra Modi Ji, who initiated this mission at last year’s WAVES summit, the foundations for this transaction were laid. Thank you, Hon. Modi Ji, for your enduring vision in spearheading this creative revolution. (sic)"

Discussing how this development will bolster India's position in the global arena, making Mumbai a significant entity in the media landscape, he remarked, "Universal Music Group, a global frontrunner in music and intellectual property, opting to enhance its presence in India via Excel Entertainment, a creator-driven, homegrown studio based in Mumbai, sends a compelling message. It signifies that India’s creative economy has matured and that Mumbai is not merely participating in the global media landscape, it is actively shaping it."

The Chief Minister asserted that their administration is committed to ensuring that Mumbai not only competes but leads.

Highlighting what makes Maharashtra an ideal destination for global investors, the CM emphasized, "Global firms seek five critical factors when deciding to invest: talent, policy stability, respect for intellectual property, speed of execution, and a comprehensive ecosystem. Mumbai and Maharashtra provide all five, bolstered by the Government of Maharashtra's progressive policies, robust infrastructure, ease of doing business, skill enhancement, and institutional support for intellectual property."

"This government’s mission is to ensure that your hard work aligns with world-class opportunities. Mumbai has always narrated India’s stories; now it is prepared to narrate the world’s stories," CM Fadnavis concluded.

Point of View

It is evident that the collaboration between Universal Music India and Excel Entertainment signifies a significant advancement for the Indian entertainment landscape. The acknowledgment from CM Fadnavis towards PM Modi underlines the government's role in fostering creativity, positioning Mumbai as a key player on the global stage.

NationPress

9 May 2026

Frequently Asked Questions

What is the significance of Universal Music India's investment in Excel Entertainment?

This investment represents a major milestone in the entertainment industry, enhancing India's creative economy and positioning Mumbai as a significant player in the global media landscape.

How much stake did Universal Music India acquire in Excel Entertainment?

Universal Music India acquired a 30 percent equity stake in Excel Entertainment, valuing the company at Rs 2,400 crore.

What role did PM Modi play in this investment?

CM Devendra Fadnavis credited PM Modi for initiating the idea during the WAVES Summit 2025, which laid the groundwork for this significant transaction.

Why is Mumbai considered a hub for global investors?

Mumbai offers talent, policy stability, respect for intellectual property, speed of execution, and a comprehensive ecosystem, making it an attractive destination for global investors.

What are the future prospects for Mumbai's entertainment industry?

With significant investments like this, Mumbai is poised to not only compete but lead in the global creative economy.