I&B ministry submits task force report on 'Realising AVGC-XR Sector Potential in India'

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The Information and Broadcast Ministry on December 26 submitted the Animation, Visual Effects, Gaming and Comics (AVGC) Task Force Report on
'Realising AVGC-XR Sector Potential in India', following extensive consultations between its various stakeholders from the business community, academic community, and government, reported news agency ANI.

According to Apurva Chandra, Secretary of I&B Ministry, the domestic demand for AVGC material as well as the entry of numerous international players into the Indian talent pool have all contributed to the AVGC sector's recent extraordinary growth rates in India.

Currently, India contributes between $2.5 and $3 billion to the estimated $260 to $275 billion global AVGC industry, as per the report.

Chandra told ANI that the AVGC sector's high-end, skill-based activities are increasingly finding a home in India. According to specialists in the media and entertainment (M&E) industry, the AVGC sector will increase between 14 and 16 percent over the next ten years.

AVGC sector in India employs 1.85 lakh professionals, and another 30,000 are employed indirectly.

Additionally, ANI report added that by 2030, the industry would need to employ another 20 lakh people in order to maintain current development. Professionals in the AVGC field need a combination of technological expertise and artistic talent.

The Taskforce's main recommendations, according to the report, include developing domestic industry for global access, creating a talent ecosystem to realise demographic dividends, improving technology & financial viability for the Indian AVGC industry, and boosting India's soft power through inclusive growth to realise the industry potential and create job opportunities in the AVGC sector.

(With inputs from ANI)