Introduction

• The AVGC (Animation, Visual Effects, Gaming, Comics) sector is set to be the future of the media and entertainment industry. 
• According to the FICCI-EY 2024 report, India now boasts the second-largest anime fan base globally and is projected to contribute 60% to the worldwide growth in anime interest in the coming years.
• In a significant step toward making India a global hub for AVGC, the Union Cabinet recently approved the establishment of a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai.

NCoE Background

• NCoE will be set up 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 establishment of the NCoE follows the Union Minister of Finance and Corporate Affairs 2022-23 budget announcement, which proposed the creation of an AVGC task force in the country.
• NCoE AVGC aims at creating a world class talent pool in India to cater to the Indian as well as global entertainment industry.
• Provisionally named the Indian Institute for Immersive Creators (IIIC), this center aims to revolutionize the AVGC sector and foster innovation in immersive technologies.
• It will be modeled after renowned institutions like the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs).

Objective of NCoE (IIIC)

Boasting a growth rate of 25% and an estimated value of ?46 billion by 2023 (FICCI-EY Report 2023), the animation industry in India is thriving and offers a promising future for passionate young talent.

Below are some of the key objectives of the NCoE (IIIC):

• Focusing of creating Indian IP
• Leveraging our cultural heritage in new age
• Create a multiplier effect in the industry
• An industry led initiative, in partnership with state and academia
• Integrated focus on education, skilling industry, development, innovation
• Hub and spoke model of development to be followed
• IIIC as the hub and several center’s as its spokes dedicated innovation and research fund to promote start-up ecosystem

Conclusion

The Union Cabinet's approval of the National Centre of Excellence (NCoE) for AVGC marks a pivotal step in strengthening India’s media and entertainment industry. This initiative is set to boost the economy while creating new job opportunities in the rapidly growing AVGC sector. As a global hub for filmmaking, India's advancements in technology and infrastructure will enable the production of high-quality content, positioning the country as a leader in technological innovation and creativity.