The information and Broadcast Ministry on Monday released the Animation, Visual Effects, Gaming and Comics (AVGC) Task Force Report on 'Realising AVGC-XR Sector Potential in India', after intensive consultations between its various stakeholders from the industry, academia, and government.
Apurva Chandra, Secretary of Information and Broadcasting Ministry informed that 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 also by the domestic demand for AVGC content.
India today contributes about $2.5-3 billion out of the estimated $260-275 billion worldwide AVGC market.
Chandra also said that India is emerging as a primary destination for high-end, skill-based activities in the AVGC sector. As per the experts within the Media and Entertainment (M&E) Industry, the AVGC sector can witness a growth of 14-16 per cent in the next decade.
Currently, there are 1.85 lakh professionals employed in the AVGC sector, with another 30,000 employed indirectly. The industry would employ approximately another 20 lakh individuals by 2030 to sustain its growth. The skills required for AVGC professionals are a mix of technology know-how and fine arts ability.
To realize the industry potential and creation of job opportunities in the AVGC sector, the key recommendations made by the Taskforce includes Domestic Industry Development for Global Access, Developing Talent ecosystem to realize Demographic Dividends, Enhancing Technology & Financial Viability for Indian AVGC Industry and Raising India's soft power through an Inclusive growth.
He further informed that for a comprehensive and consistent implementation of the AVGC Task Force recommendations, a draft of the National Policy for AVGC Sector Potential Realization and a draft of Model State Policy for AVGC sector initiatives at the State level have also been prepared.
Minister for Information and Broadcasting, Anurag Thakur, presented the Task Force Report on 'Realising AVGC-XR (Animation, Visual Effects, Gaming and Comics - Extended Reality) Sector Potential in India' on December 22 2022, by Apurva Chandra, Chairman of the Task Force, which was constituted for Promotion of AVGC (Animation, Visual Effects, Gaming and Comics) Sector in India.
Now, the Ministry along with the other concerned Ministries will process the implementation of the recommendations in this report. The draft policies for the growth of the AVGC-XR Sector, both at National and State levels, will be key to aiding the growth of the M&E industry in general, and AVGC sector in particular, eventually contributing to India's growth as an AVGC hub.
( With inputs from ANI )
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