Animation, Visual Effects, Gaming and Comics
The animation industry in India has shown steady growth in recent years and is a highly potent sector. This trend is coupled by the constant outsourcing of animation technology to India. Karnataka is popularly known as the IT hub of India and has drawn a vast age of population into the animation and gaming industry.
The global animation and gaming market is expected to grow to USD 242.92 billion by 2016. The gaming market is the fastest growing with a Y-O-Y growth of 17.46 percent by 2016, registering a CAGR of 13.71 percent; the YO-Y growth of the animation market will be 15.83 percent at a CAGR of 12.50 percent by 2016.
The animation, visual effects, gaming and comics (AVGC) industry has witnessed unprecedented growth rates in recent times. It has seen the entry of many global majors who have tapped into India’s talent pool for offshore delivery of services. As a recent FICCI-KPMG joint study pointed out, “India has nearly 300 animation, 40 VFX and 85 game development studios with more than 15,000 professionals working for them. These studios have experienced a mix of content production, outsourced animation services and collaborative animation services. Over the last decade, the Indian animation industry has moved up the value chain from a traditional outsourcing model to creating its own intellectual property and co-productions.”
The policy aims to foster a vibrant, stimulated and well informed community. This can be achieved by attaining the following goals-
- Stimulate the growth of 100 KAVGC companies including 25 high profile companies in terms of projects and size of operations.
- Create 15,000 new jobs in the KAVGC industry thereby taking the total employed workforce to 20,000 people.
- Facilitate skill development through 120+ training institutes spread across the state.
- Maintain the share of exports to more than 75 percent of total revenue.