The Ministry of Information and Broadcasting (I&B Ministry) has sought comments from the industry and public on the draft of the National Animation, Visual Effects, Games, Comic and Extended Reality (AVGC) policy.
The comments can be submitted at the following email address: email@example.com by February 10, 2022.
Prime Minister Narendra Modi had given the vision that the AVCG-XR sector can provide immense employment opportunities to the youth who can serve the global market and the Indian talent can lead the way in this sector.
Subsequent to the announcement in the Budget speech for the fiscal year 2022-23, a Task force on promotion of AVGC sector was constituted under the Chairmanship of Secretary (I&B), with key stakeholders from the industry and the government, in order to help realise the full potential of the AVGC sector in India.
The AVGC sector in India has witnessed unprecedented growth rates in recent times, with many global players entering the Indian talent pool to avail offshore delivery of services and by the domestic demand of AVGC content.
As per the Ministry, today India contributes about $2.5-3 billion out of the estimated $260-275 billion worldwide AVGC market. India is emerging as a primary destination for high-end, skill-based activities in the AVGC sector. As per the experts within the M&E Industry, the AVGC sector can witness a growth of 14-16% in the next decade.
Currently, there are 1.85 lakh professionals employed in the AVGC sector, with another 30,000 who are indirectly employed. The sector would employ approximately another 20-lakh individuals by 2030 to sustain its growth.
With the momentum that the AVGC industry has gained in the current times, it has become imperative to develop a support ecosystem for the industry at large and support its growth in India.
The Task force constituted held intensive consultations with concerned departments and the industry to carve out the Task Force Report on ‘Realising AVGC-XR (Animation, Visual Effects, Gaming and Comics – Extended Reality) Sector Potential in India’, which has been submitted on December 22, 2022.
The report has been uploaded on the website of the Ministry.
The report includes a Draft National Policy document as Annexure C to the Task Force Report targeted for the growth of the AVGC-XR Sector at National Level, will be key to aid the growth of the M&E industry in general, and AVGC sector in particular, eventually contributing to India’s growth as an AVGC hub.