Movies such as Star Wars, Avengers, Matrix and Avatar must serve as an inspiration for the next generation of the Animation, Visual Effects, Gaming and Comics (AVGC) industry of India which should start looking beyond boundaries, Commerce & Industry Minister Piyush Goyal has said.
The AVGC sector, growing at 9 per cent, has huge potential and is expected to reach $ 43.93 billion by 2024, the Minister pointed out speaking at the valedictory session of the second edition of CII SummitFX 2021 – Global AVGC & Immersive Media Summit on Friday.
The Minister said that pre-production to post-production AVGC sector can bring cost competitiveness and efficiency at each touchpoint. Production cost in India is one-third to one-fourth of Western countries and 25 per cent of the country’s South East Asian counterparts, he added.
Goyal said that in the spirit of ‘Local goes Global — Make in India for the World’, the AVGC sector in India must look beyond boundaries to reach new horizons and provide a cost-effective option to the world.
The sector has channelised the creative energy of India’s youth during the pandemic and it has the power to project India’s creativity globally, he said.
In India, AVCG industry can expand in multiple dimensions due to India’s multilingual & multicultural society and the country must focus on making content that has a local flavour with an international appeal, the Minister added. The Hindu BusinessLine