In a significant step toward making India a global hub for AVGC, the Union Cabinet recently 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 (Animation, Visual Effects, Gaming, Comics) sector is set to be the future of the media and entertainment industry. Movies like Baahubali and RRR have introduced a new vision for portraying historic and fantasy themes in India. According to the FICCI-EY 2024 report, India now boasts the second-largest anime fan base globally and is projected to contribute 60% to the worldwide growth in anime interest in the coming years.
NCoE will be set up as a Section 8 Company under the Companies Act, 2013 in India with Federation of Indian Chambers of Commerce & Industry and Confederation of Indian Industry representing the industry bodies as partners with the Government of India.
The establishment of the NCoE follows the Union Minister of Finance and Corporate Affairs 2022-23 budget announcement, which proposed the creation of an AVGC task force in the country. NCoE AVGC aims at creating a world class talent pool in India to cater to the Indian as well as global entertainment industry. Provisionally named the Indian Institute for Immersive Creators (IIIC), this center aims to revolutionize the AVGC sector and foster innovation in immersive technologies. It will be modeled after renowned institutions like the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs).
India’s animation sector is witnessing remarkable growth, driven by increasing demand for films, visual effects (VFX), gaming animation and engaging mobile content. This surge presents exciting opportunities for skilled and enthusiastic animators. Boasting a growth rate of 25% and an estimated value of Rs 46 billion by 2023 (FICCI-EY Report 2023), the animation industry in India is thriving and offers a promising future for passionate young talent.
With rapidly evolving technology and increasing internet penetration all across the country, coupled with one of the cheapest data rates, the usage of AVGC-XR globally is poised to grow at an exponential pace. This creates abundant opportunities, particularly through the National Centre of Excellence (NCoE).
Key objectives of the NCoE (IIIC):
Focusing of creating Indian IP
Leveraging our cultural heritage in new age
Create a multiplier effect in the industry
An industry led initiative, in partnership with state and academia
Integrated focus on education, skilling industry, development, innovation
Hub and spoke model of development to be followed
IIIC as the hub and several center’s as its spokes dedicated innovation and research fund to promote start-up ecosystem