Setting up of the centre for AVGC-XR is a game-changing moment for India’s M&E: Kevin Vaz
With the potential to generate 5 lakh jobs, it reflects the government's visionary approach to making India a global leader in content creation, said Vaz
by
Published: Sep 19, 2024 3:29 PM | 2 min read
Follow Us
The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the establishment of the National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR).
Applauding the move, Kevin Vaz, Chair, Media and Entertainment Committee, FICCI & CEO - Broadcast Entertainment, @viacom18, termed is a game-changing moment for India’s Media and Entertainment landscape.
“On behalf of FICCI, I would like to applaud the Government's pioneering effort to establish the National Centre of Excellence for AVGC-XR. The establishment of the Indian Institute for Immersive Creators is a game-changing moment for India’s Media and Entertainment landscape. By combining cutting-edge AVGC-XR technologies with our nation’s creative talent, this institute is poised to drive innovation and create significant employment opportunities,” mentioned a social media post by FICCI.
“With the potential to generate 5 lakh jobs, it reflects the government's visionary approach to making India a global leader in content creation, and we at FICCI are excited to be a key part of this transformative journey,” he added.
The NCoE has been approved as 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, Maharashtra 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,” PIB stated in a press release.
Read more news about Digital Media, Internet Advertising, Marketing News, Television Media, Radio Media
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook, YouTube & Google News
Tags
Ficci
Gaming
Kevin vaz
Prime minister narendra modi
Viacom
Media Entertainment
National Centre of Excellence NCoE for Animation
Visual Effects
Comics and Extended Reality