The Ministry of Information and Broadcasting will set up an Animation, Visual Effects, Gaming, and Comics (AVGC) task force by the end of March with the purpose of formulating a policy to further facilitate the companies in the sector.
Secretary, Ministry of Information and Broadcasting Apurva Chandra on Friday inaugurated a 'Media and Entertainment Week' at India Pavilion at the Dubai Expo in the presence of actor R. Madhavan and others.
In a round table discussion organised at the India Pavilion on the topic of 'Collaborating for AVGC content creation with India', Chandra highlighted the opportunities in the AVGC sector in India. "The Indian Media and Entertainment (M&E) industry is one of the fastest growing and the most visible in the world. The Indian M&E industry is valued at US$ 28 billion and is projected to reach US$ 100 billion by 2030 growing at a cumulative growth rate of 12 per cent. India has talent and creative skill required in the industry," Chandra said.
The Secretary mentioned that the Ministry will set up an AVGC task force by the end of March 2022 with the purpose of formulating the AVGC policy to further facilitate the companies in the sector. Actor Madhavan applauded the Government of India for their attention towards the AVGC sector and emphasized about the talent of Indians and its growth potential. The CEO Central Board of Film Certification and Managing Director, National Film Development Corporation of India, Ravinder Bhakar highlighted the importance of skilling and creating a talent pool that will benefit the Indian M&E industry in the long run.
The Ministry in a statement said that the round table saw a vast array of inputs from industry leaders from India, Dubai and other countries agreeing that India offers vast opportunities for outsourcing in the AVGC sector while also voicing the need for deeper collaboration between the two countries to foster stronger collaborations between the private sectors of India and the Middle Eastern countries.
"In the coming fortnight, the Ministry will participate in various events at the pavilion. The Ministry will also formalise a MoU with UAE for a mutually beneficial collaboration. The discussion will continue till next few months and MoU is expected to be signed in six-eight months," it added.