The Next Generation of Media and Entertainment: AVGC

Nitin Konde, Apoorva Bajj

Oct 1, 2024 — 3 min read

The Next Generation of Media and Entertainment: AVGC

The media and entertainment industry's future appears to be in the AVGC (Animation, Visual Effects, Gaming, Comics) sector. Films like PS1 and Kalki, along with Baahubali and RRR, have introduced a fresh approach to depicting historical and fantasy themes in Indian cinema. India now has the second-largest anime fandom in the world, and the FICCI-EY 2024 report projects that country will account for 60% of the increase in anime interest over the next several years.

The Union Cabinet recently approved the creation of a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai, which is a major step toward making India a global hub for AVGC.

Commenting on this development, Dr. Anuj Kacker, CEO of Aptech stated, "The National Centre of Excellence (NCoE) in Mumbai will help propel India to a global level. By nurturing innovation, creating Indian IP, and cultivating top talent, this initiative will unlock immense growth potential. With India's growing animation fan base and burgeoning creative industry, the NCoE is expected to create 500,000 jobs, drive entrepreneurship, and establish India as a hub for the creation of high-quality immersive content. We applaud the government's proactive approach to bolster the AVGC sector."

"For over two and half decades, at Aptech, we have been pioneers in contributing pre-trained talent and manpower to the AVGC industry with our top training brands – Arena Animation and MAAC. Our new brand - The Virtual Production Academy is also poised to empower aspiring working professionals with cutting edge, new age technologies for scaling up content creation industry in India," he claimed.

Echoing similar sentiments, Dr. Vipul Lunawat Founder Director , ISST( Institute of Sports Science & Technology), Pune said, "In a significant advancement for India's burgeoning industries like augmented reality (XR) and visual effects (VFX), the Cabinet Office has recently launched a National Centre of Excellence for Animation in Mumbai. This move highlights the growing importance of these sectors in the development of India's media and entertainment landscape, as well as the government's recognition of their remarkable growth and influence. Traditionally, animation productions in television and film have depended heavily on external funding. With the emergence of various platforms and an increasing demand for high-quality content, there is now a pressing need to focus on creating original works."

Context of NCoE

As partners with the Indian government, the Federation of Indian Chambers of Commerce & Industry and the Confederation of Indian Industry will represent the industry bodies in the establishment of NCoE as a Section 8 Company under the Companies Act, 2013. The Union Minister of Finance and Corporate Affairs' budget announcement for 2022-2023 suggested the formation of a national AVGC task force, which led to the formation of the NCoE.

The goal of NCoE AVGC is to develop a top-tier talent pool in India to serve the needs of the domestic and international entertainment industries. The Indian Institute for Immersive Creators (IIIC), a temporary name, seeks to innovate in immersive technology and transform the AVGC industry. It would take inspiration from esteemed establishments such as the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs).

Disticnt Characteristics of NCoE

The development of Indian intellectual property (IP) for both domestic and international markets will also be a major emphasis of NCoE.
It will serve as an incubation facility by offering resources to support AVOC•CR start-ups and early-stage businesses.
It Will additionally present India as a centre for cutting-edge content production.
It will bolster India's soft power internationally and draw in foreign capital to the MEE industry.
To be established in Mumbai, Maharashtra, and FICCI and Cll to represent business associations as collaborators with the Indian government.

The Goals of NCoE (IIIC)

The strong rise in the Indian animation industry can be attributed to the growing need for compelling mobile content, visual effects (VFX), films, and game animation. Skilled and motivated animators have great opportunities due to this boom. The animation sector in India is booming, with a projected value of INR 46 billion by 2023 (FICCI-EY Report 2023) and a growth rate of 25%. It presents a bright future for young, driven talent.

With one of the lowest data rates available nationwide, fast-advancing technology, and rising internet penetration, the use of AVGC-XR is expected to increase exponentially on a worldwide scale. Many opportunities are created by this, especially through the National Centre of Excellence (NCoE).