Union Cabinet Approves National Centre of Excellence for AVGC

Syllabus: GS3/ Economy

In Context

• 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.

About

• The establishment of the NCoE was announced in the 2022-23 budget, which proposed the creation of an AVGC task force in the country. 
• India’s animation sector is witnessing remarkable growth, driven by increasing demand for films, visual effects (VFX), gaming animation and engaging mobile content.
• 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.

Key Points about NCoE

• NCoE will be set up as a Section 8 Company under the Companies Act, 2013.
• 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).

Benefits of NCoE

• Skill Development: NCoE provides training programs that equip individuals with advanced skills in animation, gaming, visual effects, and XR technologies, fostering a highly skilled workforce.
• Innovation Hub: The center promotes research and innovation in AVGC and XR technologies, driving new developments and creative solutions in these rapidly evolving fields.
• Industry Growth: By offering resources, infrastructure, and networking opportunities, NCoE helps boost the AVGC sector, enabling Indian companies to compete globally and increasing job creation.
• Global Competitiveness & boosting soft power: The center strengthens India’s position as a global hub for AVGC and XR industries, attracting foreign investments and projects.
• Economic Impact: Employment creation, increased revenue from exports and domestic markets.

Source: PIB