Budget 2022: Government to set up task force to promote AVGC sector

After years of efforts by various organizations and studios, the animation, visual effects, comics and gaming (AVGC) industry is finally getting the recognition it deserves from the government.

Highlighting how the AVGC sector has great potential for employing youth, union finance minister Nirmala Sitharaman during the Union Budget 2022 shared that an AVGC Promotion Task Force will be set up to recommend ways to realize this and to build domestic capacity to serve markets and global demand.

Until now the sector was caught between broadcast and films. But now with this dedicated task force, it will be covered by both. 

FICCI AVGC- XR Forum chairman and Punnaryug Artvision founder Ashish SK shared with AnimationXpress, “”The budget announcement of the formation of task force for AVGC Promotion has come at the most appropriate time. After setting a strong foundation in the last two decades, the Indian AVGC – XR is poised to grow phenomenally in coming decade. The creative skills from India needs nurturing to a great extend to enable the growth of the AVGC – XR sector. Setting up of a task force for the promotion of Indian AVGC sector will definitely bring in a great focus on positioning Indian AVGC sector for services exports, co-productions, growth of Indigenous intellectual property and its consumption patterns within India and overseas. The Indian AVGC – XR sector is expected to have a major share of the media and entertainment industry. The horizon and use cases of AVGC – XR verticals have expanded beyond its day to day defined utility in Architecture, Life Science, Legal, Education, Industrial, Urban Planning, Sports, Digital universe, Metaverse etc. apart from media & entertainment. I would like to thank the Information and Broadcasting Ministry, IT Ministry, Commerce Ministry, Education Ministry, Skills and Entrepreneurship Ministry, all the State governments as well as all the AVGC – XR stakeholders who have passionately worked on getting Indian AVGC on world map and giving a new life to Indian creative arts, performing arts, design & sports in this ever-evolving world as well as its digital twin.”

A happy FICCI, AVGC-XR Forum co-chairman and Graphiti Studio founder Munjal Shroff said, “The AVGC Task force is a huge step by the Government to promote the sector. We wholeheartedly welcome it and FICCI AVGC-XR Forum will continue to work closely with the government on various policy initiatives to realize the growth potential of the Industry. This industry vertical has tremendous scope for employment generation and exports.”

“Am delighted that the Government of India has accepted our request to set up an AVGC task force to provide strategic direction and provide a fillip to the sector. Grateful thanks to MIB and the CII for their encouragement of this initiative. I shall work to ensure that we partner the government to achieve exponential growth in revenues, jobs and global market share,” commented CII National AVGC Committee 2022 chairman and Technicolor India country head Biren Ghose.

With the Indian animation and VFX industry expected to expand to US $2.3 billion by FY24 from US $1.2 billion in FY19, this move will help further strengthen the industry and help it reach greater heights.