Panaji: The Waves Film Bazaar 2025 concluded with a vibrant closing ceremony on Monday at the 56th International Film Festival of India (IFFI), bringing to an end five days of global networking, creative collaborations and innovative cinematic showcases. The event reinforced its reputation as South Asia’s premier film market, drawing industry leaders, acclaimed filmmakers, investors and emerging talent from around the world.
The ceremony saw the presence of key dignitaries, including Joint Secretaries of the Ministry of Information and Broadcasting Ajay Nagabhushan MN and K. K. Nirala, NFDC Managing Director Prakash Magdum, Waves Film Bazaar advisor Jerome Paillard, IFFI Festival Director and filmmaker Shekhar Kapur, directors Rajkumar Hirani and Sriram Raghavan, along with internationally renowned actor Rachel Griffiths.
The evening began with a minute’s silence in memory of legendary actor Dharmendra, honouring his immense contribution to Indian cinema. In his address, Nagabhushan announced plans to significantly scale up the Waves Film Bazaar for its milestone 20th edition next year. Magdum highlighted the success of notable films nurtured by the platform and reaffirmed NFDC’s dedication to supporting new and independent voices in filmmaking.
A special video montage of the festival’s standout moments set the tone for an awards-filled celebration. At the Co-Production Market, Kakthet (Idiot) bagged the First Co-Production Grant of USD 10,000, while Ulta (Madam) secured USD 5,000 as the Second Grant. Simhastha Kumbh won the USD 5,000 Special Documentary Grant. Awards from the Red Sea Fund went to The Manager, Azhi and Ustad Bantoo. Nazma Ka Tadka received the Platoon One Script Development Grant, while Teacher’s Pet and White Guy won Casting Company Awards. The UCCN City of Film Award for Best Project went to 7 to 7.