Why Mahavatar Narsimha’s ₹200-crore goal signals a turning point for Indian animation?

For decades, animated blockbusters from Hollywood have ruled the global and Indian box office. Now, for the first time, an Indian animated epic—Mahavatar Narsimha—is drawing massive crowds at home and abroad, crossing ₹150 crore worldwide in just 15 days and rewriting the playbook for homegrown animation. 

The film, which is now heading towards the ₹200 crore mark, was released in Telugu, Kannada, Hindi, Tamil and Malayalam languages. The movie has already surpassed box office records set by ‘Hanuman’ (2005), ‘Incredibles 2’ (2018), and ‘Spider-Man: Across the Spider-Verse’ (2023). 

Presented and distributed by Hombale Films—the studio behind KGF and Kantara—the 3D and 2D film reimagines the classic tale of Prahlad and Hiranyakashipu with modern sensibilities and high-quality animation.

Mahavatar Narsimha’s success could mark an inflection point for Indian animation, proving the viability of large-scale, culturally resonant animated projects. 

“The film is the first in a planned 10-part animated franchise inspired by Indian mythology. Upcoming instalments include Mahavatar Parshuram (2027), Mahavatar Raghunandan (2029), Mahavatar Dhawkadhesh (2031), Mahavatar Gokulananda (2033), Mahavatar Kalki Part 1 (2035), and Mahavatar Kalki Part 2 (2037),” says Ashwin Kumar, who is tasting success with his debut film. 

The filmmakers plan to stream the film eight weeks after its theatrical release but are keeping the platform, deal, and OTT launch date under wraps. 

Global ambitions

If its current momentum holds, the Mahavatar series could well set the blueprint for Indian animation’s global ambitions, especially the mythological genre, Kumar hopes. Industry leaders echo the sentiments. 

Sunder Aron, Managing Partner of Locomotive Global, says, “Indian audiences love mythological stories, and the genre continues to be popular. It's good to see that our Indian stories can be compellingly told even in an animated format.”

He shares that there is a significant growth in adoption of animation films and series, as witnessed by the rise in animated content available on YouTube, Netflix and other OTT services. In fact, India has emerged as an important market for CrunchyRoll, which tells all. 

Crunchyroll is an US-based subscription streaming service owned by Sony Group Corporation. The anime streaming platform, which is the world's largest dedicated anime streaming library, currently has 17 million active subscribers globally. The platform slashed its annual subscription price in India early this year to ₹475 (₹40 a month) from ₹999, set back in July 2022.

“Animated films (often part of a franchise) reliably generate big time revenues. Even the past year, there are a number of animated films with enormous global box office success, each generating almost $1 billion revenue in theatrical release, such as ‘Inside Out 2’, ‘Despicable Me’ 4, ‘Moana 2’, and startlingly, the Chinese animated mythological film ‘Ne Zha 2’, has even crossed the $2-billion club, taking it past ‘Avengers Infinity War’ and close to ‘Titanic’ and ‘Avatar’,” Aron noted. 

With anime’s rising popularity and AI adoption, more projects are likely to chase Narsimha’s success. 

Locomotive Global is also developing a few animation projects including one in the anime space. We are hoping to use the anime style and sensibilities and apply them to a uniquely Indian contemporary tale. Our projects also have sci-fi + mythology themes, which are well served by the anime style, Aron told e4m. 

Rs 18,500 Cr industry 

India’s animation and VFX industry, valued at over ₹11,400 crore, is projected to grow at a CAGR of 17.5% to ₹18,500 crore by 2026, according to the FICCI-EY Media & Entertainment industry report. The boom is being driven by demand across streaming platforms, mobile gaming, and educational content, appealing to both children and adults worldwide.

The industry in India is thriving due to several other key factors. The country’s cost-effectiveness allows studios to deliver high-quality animation at competitive prices, making it an attractive outsourcing hub for western studios. 

Besides, the Government of India has identified the Animation, Visual Effects, Gaming, and Comics (AVGC) sector as a strategic growth area. Under the Skill India Mission, the Media & Entertainment Skills Council (MESC) is building industry-aligned training programs, while the National AVGC Policy aims to make India a global content hub, Jayant Chaudhary, Minister of State, Ministry of Skill Development and Entrepreneurship and Minister of State, Ministry of Education, wrote in a blog at MyGov portal last year. 

“Additionally, India boasts a skilled talent pool, trained in global techniques, making studios capable of handling sophisticated projects.

Mobile gaming is also reshaping the landscape, positioning India among the largest gaming markets globally,” said an official. 

While Hollywood writers' strike and struggling international studios led to a 9% revenue decline in 2024 and reduced broadcast ad revenues also impacted the production of animated content in India, as per the FICCI-EY report 2025, the entertainment industry hopes for a better time going forward. 

“As Mahavatar Narsimha storms the box office, it signals more than just commercial success — it marks the rise of an era where India’s myths, heroes, and artistry stand alongside the world’s best, taking the nation’s creative spirit to global audiences,” says Anil Thadani, founder of AA Films, a leading independent film distribution company in India and the Managing Director and CEO of Cinestaan AA Distributors.