The Union Cabinet chaired by Prime Minister Narendra Modi has approved the establishment of the National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR) as a Section 8 Company under the Companies Act, 2013 in India with Federation of Indian Chambers of Commerce and Industry and Confederation of Indian Industry representing the industry bodies as partners with the Government of India.
The NCoE will be set up in Mumbai, Maharashtra, and is in pursuance to the Union Minister for Finance and Corporate Affairs’ budget announcement for 2022-23 for setting up an AVGC Task Force in the country.
The AVGC-XR sector has become crucial in media and entertainment, including filmmaking, OTT platforms, gaming, and advertising. It also impacts health, education, and social sectors. With advancing technology, widespread internet access, and affordable data rates, the global use of AVGC-XR is set to grow rapidly.
To keep up with this brisk pace, the NCoE is being established to act as the pinnacle institution to anchor the AVGC-XR ecosystem in the country.
Along with offering specialised training-cum-learning programs to equip both amateurs and professionals with the latest skill sets in cutting-edge AVGC-XR technologies, this NCoE will also foster research and development, and will bring together experts from various fields like computer science, engineering, design, and art that can lead to breakthroughs in the field of AVGC-XR.
This NCoE will also focus on the creation of India’s IP for both domestic consumption and global outreach, overall leading to the creation of content based on India’s historical and cultural heritage.
Further, the NCoE will function as an incubation center by providing resources for nurturing startups and early-stage companies in the AVGC-XR field. Also, NCoE will serve not only as an academic accelerator but also as a production/ industry accelerator.
By positioning this NCoE as the driving force for the growth of AVGC-XR industry it will serve as one of the biggest sources of employment for the youth from all parts of the country.
This will give a push to the creative arts and design sector and make India the hub for AVGC-XR activities furthering the goals of the Atmanirbhar Bharat Initiative.
The NCoE for AVGC-XR will also position India as a content hub for providing state-of-the-art content thereby enhancing India’s soft power globally and attracting foreign investment into the Media and Entertainment Sector.
