India’s AVGC Industry Gets a Boost: Cabinet Approves Centre for Excellence

India’s AVGC Industry Gets a Boost: Cabinet Approves Centre for Excellence

National, 5 October 2024 – In a landmark move, the Indian Government has approved the establishment of a Centre for Excellence dedicated to the Animation, Visual Effects, Gaming, and Comics (AVGC) sector, reflecting the growing significance of this industry to India’s digital economy. This initiative is a strong endorsement of the industry’s rapid evolution and its crucial contribution to India’s economic landscape.

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The AVGC sector has been witnessing exponential growth, with the Indian gaming market projected to surpass USD1.4 billion by 2028. The establishment of this Centre for Excellence seeks to bridge the gap between the rising demands of the gaming and visual effects industry and the current talent pool. It aims to create a structured framework to develop skilled professionals, boost innovation, and create a thriving ecosystem for creators, developers, and artists.

Mr Vikas Goel, Founder, EsportsXO, commented, “This is a transformative step for India’s digital entertainment industry. The cabinet approval for the establishment of a Centre for Excellence is an acknowledgment of the growth of the AVGC sector and a testament to its contribution to the economy. The Indian gaming market is projected to exceed $1.4 billion by 2028, and there is a need for a structured framework for developing talent and fostering innovation in this sector.

This Centre for Excellence will help address the gap between the fast-evolving demands of the industry and the current available skills. India is home to over 400 million gamers, and by focusing on education, research, and collaboration with industry leaders, this initiative will play a key role in formalising skill development. This not only enhances the technical capabilities of the workforce but also nurtures creativity, which is a crucial element for competing globally in fields like gaming and visual effects.

Additionally, this Centre will open up a wealth of career opportunities for young professionals, equipping them with the tools and knowledge needed to succeed in this dynamic field. The government’s support sends a strong message that India is ready to become a global player in the AGVC sector. With the right resources and collaboration between academics and industry, this move will help position India at the forefront of the global AVGC ecosystem.”

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