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The Union Cabinet approved the establishment of a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai.
The AVGC sector, which stands for Animation, Visual Effects, Gaming, and Comics, is becoming the future of the media and entertainment world. In India, movies like Baahubali and RRR have taken historic and fantasy themes to the next level, inspiring films like PS1 and Kalki.
According to the FICCI-EY 2024 report, India has the second-largest fan base for anime in the world and is set to contribute 60% of the global growth in anime interest in the coming years. To boost this progress, the Union Cabinet has approved the establishment of a National Centre of Excellence (NCoE) for AVGC in Mumbai.
The National Centre of Excellence (NCoE) will be set up as a Section 8 Company under the Companies Act, 2013, in collaboration with major industry bodies like the Federation of Indian Chambers of Commerce & Industry (FICCI) and the Confederation of Indian Industry (CII).
The idea was first announced in the 2022-23 Union Budget. NCoE aims to develop top talent for both India and the global entertainment industry. It will also be known as the Indian Institute for Immersive Creators (IIIC) and will follow the model of prestigious institutes like IITs and IIMs.
India's animation industry is booming, because of the rising demand for films, visual effects, and gaming content. According to the FICCI-EY Report 2023, the industry is growing at 25% annually. With internet access increasing and data rates among the lowest in the world, the AVGC sector is set to grow rapidly.
Films like RRR, Baahubali, The Lion King, and Avatar have shown the massive potential of animation and immersive technology. Immersive technologies like Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR), and 3D animation are the future of content creation. NCoE will help students learn these technologies and use them to create content based on Indian culture.
It is expected to generate 5,00,000 jobs and offer world-class infrastructure similar to IITs and IIMs. Students will gain practical skills through hands-on learning and internships, making them job-ready right after graduation. It will promote collaboration between governments, academia, and industries to drive research and innovation in immersive technologies.
It is growing rapidly and is becoming a key part of the media and entertainment industry, offering many opportunities for creative and technical people. The country is now among the top five gaming markets worldwide. India contributes about $2.5-3 billion to the global AVGC market, which is valued at $260-275 billion.
By 2025, India's AVGC sector has the potential to capture 5% of the global market, which would be worth around $40 billion. This sector is also expected to create around 1,60,000 new jobs by then.
AVGC Promotion Task Force ReportThe government set up the AVGC (Animation, Visual Effects, Gaming, and Comics) Promotion Task Force in April 2022. It was led by the Secretary of the Ministry of Information and Broadcasting, with members from other ministries. Key Recommendations
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The AVGC sector has a bright future, with the potential to create jobs, boost the economy, and promote Indian culture worldwide. With better training, investment, and support, India can become a global leader in animation, VFX, gaming, and comics.
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