The Union Cabinet has approved the establishment of the National Centre of Excellence (NCoE) for animation, visual effects, gaming, comics and extended reality (AVGC-XR) 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 NCoE will be set up in Mumbai, Maharashtra and is in pursuance to the Union Minister for Finance and Corporate Affairs’ budget announcement for 2022-23 for setting up of an AVGC Task Force in the country.
It is to be noted that AVGC-XR sector plays an important role in the realm of media and entertainment including filmmaking, OTT platforms, gaming, advertisements and several other areas including health, education and other social sectors. 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.
To keep up with this, the NCoE is being established to act as the pinnacle institution to anchor the AVGC-XR ecosystem in the country.
Along with offering specialised training-cum-learning programs to equip both amateurs and professionals with the latest skill sets in cutting-edge AVGC-XR technologies, this NCoE will also foster research and development and will bring together experts from various fields like computer science, engineering, design and art that can lead to major breakthroughs in the field of AVGC-XR.
NCoE will also extensively focus on the creation of India’s IP for both domestic consumption and global outreach, overall leading to creation of content based on India’s rich historical and cultural heritage. Further, the NCoE will function as an incubation centre by providing resources for nurturing startups and early-stage companies in the AVGC-XR field.
By positioning this NCoE as the driving force for the growth of the AVGC-XR industry it will serve as one of the biggest sources of employment for the youth from all parts of the country. This will give an enormous push to the creative arts and design sector and make India the hub for AVGC-XR activities.
The NCoE for AVGC-XR will also position India as a content hub for providing state-of-the-art content thereby enhancing India’s soft power globally and attracting foreign investment into the media and entertainment sector.