New Delhi:In a significant push to enhance India's soft power globally, the Union Cabinet on Wednesday 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 & 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 and is in pursuance to the Union Minister for Finance and Corporate Affairs’ budget announcement for 2022-23 for setting up of an AVGC Task Force in the country.
AVGC-XR sector today plays an indispensable role in the entire realm of media and entertainment including filmmaking, Over The Top (OTT) platforms, gaming, advertisements and several other areas including health, education and other social sectors thereby encompassing the overall structure of the country’s growth story.
With rapidly evolving technology and increasing internet penetration all across the country, coupled with one of the cheapest data rates, the usage of AVGC-XR globally is poised to grow at an exponential pace.
Driving the growth of AVGC-XR sector
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 programmes 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 major breakthroughs in the field of AVGC-XR.