Government’s Move to Form Animation, Gaming Promotion Squad Seen as Impetus to Strong Growth
While presenting the Union Budget 2022 this week, Finance Minister Nirmala Sitharam announced the plans to set up an Animation, Visual Effects, Gaming, and Comics (AVGC) promotion task force. It is aimed to “recommend ways to realise” the ability to create jobs and “build domestic capacity” for fulfilling the growing demand in India and around the globe, she noted. Stakeholders have welcomed the move and are looking forward to seeing the government's participation in growing the AVGC sector in the country.
Sitharaman in her over one-and-a-half hour Budget speech underlined that the sector has an immense potential to employ youth in the country.
As a follow-up of the Budget speech, Prime Minister Narendra Modi highlighted the possibilities of boosting animation and gaming in the country while addressing his party workers through a virtual meet-up.
Prime Minister Modi said that the AVGC sector was expected to reach Rs. 3 lakh crore in the next two years as per the estimate.
“Now the point is, we cannot stop our child from playing games in the family,” he emphasised. “But, will they just be playing games developed outside India or will India do something on its own? Hence, in order to give a chance to our country's talent to innovate — there is tremendous potential for ‘Create in India and Brand in India.'”
Stakeholders taking the move to promote animation and gaming positively. This is, however, not the first time when we are seeing the government showing interest in the AVGC sector. In fact, it announced plans to form an AVGC Centre of Excellence (CoE) in partnership with the Indian Institute of Bombay. The Karnataka state government also launched the AVGC CoE in Bengaluru last month.
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