Institute to be Established in Mumbai to Improve the AVGC-XR Industry

To strengthen India's media and entertainment sector, the Union Cabinet authorized the creation of the National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) on Wednesday.

Located in Mumbai, the Centre will be designed similarly to prestigious institutions like IITs and IIMs, playing a huge role in helding up India's expanding AVGC ecosystem.

The NCoE will operate as a Section 8 company under the Companies Act of 2013, in cooperation with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industry (CII) beside the government.

This advantage seeks to prove that India is a global center for innovative content creation, while also boosting the country's soft power and drawing foreign investment into the media and entertainment sector.

Union minister Ashwini Vaishnaw said, "The AVGC-XR sector plays an indispensable role in media, entertainment, gaming, health, education, and other social sectors, making it essential to the country's growth story." "With the rise of technology and affordable internet, the global demand for AVGC-XR is set to grow exponentially, and India must keep pace," he said.

The NCoE will offer specialized training programs to prepare professionals with the latest AVGC-XR technologies while also promoting research and development. By uniting experts in computer science, engineering, design, and art, the Centre aims to drive important processes in the AVGC-XR field.

The institute will also prioritize the development of intellectual property for both domestic and international markets, particularly highlighting India's rich cultural and historical heritage. It will serve as an incubation hub for startups, providing resources and support to early-stage companies in the AVGC-XR industry.

The NCoE is anticipated to become a major source of employment for India's youth, enhancing the creative arts and design sectors while advancing the 'Atmanirbhar Bharat' initiative.