New Delhi, March 14 -- The government will create a billion dollar fund in collaboration with the private sector to encourage the content creator economy, information and broadcasting minister Ashwini Vaishnaw announced on Thursday. In addition, the Union cabinet has also sanctioned Rs.391 crore to set up an Indian Institute of Creative Technologies in Mumbai, he said.

Vaishnaw made these announcements after he, external affairs minister S Jaishankar and Maharashtra chief minister Devendra Fadnavis addressed about a hundred ambassadors and high commissioners on the World Audio Visual and Entertainment Summit (WAVES) that will be held in Mumbai from May 1 to 4.

"A billion dollar fund will be created for creator economy which will be basi...