Amitabh's wax figure, dressed in a traditional black sherwani suit with a heavily embroidered gold and black shawl, is the first figure to be part of Madame Tussauds New York's all-new Bollywood Zone.
The wax figure was placed in the centre of the green carpet on the first day of the event.
Celebrities, dignitaries as well as members of the audience grabbed a chance to pose with the statue, which will be here for three days. The IIFA, which began Thursday, will end Saturday.
Amitabh, who is IIFA brand ambassador, and his son Abhishek as well as daughter-in-law Aishwarya Rai too posed with the statue as they walked the IIFA green carpet.