Context:

Recently, the Union Cabinet approved the establishment of a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai. 

About National Centre of Excellence (NCoE) 

• The establishment of the NCoE was announced in the 2022-23 budget, which proposed the creation of an AVGC task force in the country. 
• The center, provisionally named the Indian Institute for Immersive Creators (IIIC), will model itself after prestigious institutions like IITs and IIMs. 
• It will operate as a Section 8 Company under the Companies Act of 2013.
• Partnering with industry bodies like the Federation of Indian Chambers of Commerce & Industry (FICCI) and Confederation of Indian Industry (CII), along with the Government of India. 
• Its primary objective is to revolutionize the AVGC sector through specialized training programs that equip professionals with essential skills in immersive technologies.
• According to the FICCI-EY 2024 report, India now boasts the second-largest anime fan base globally and is projected to contribute 60% to the worldwide growth in anime interest in the coming years.

Benefits of NCoE

• Explosive Growth Potential: The industry is expected to grow at a rate of 25% and reach a value of ₹46 billion by 2023 (FICCI-EY 2023 report), presenting exciting opportunities for passionate young talent. Successful films like RRR and Baahubali showcase the vast opportunities within the AVGC sector, paving the way for employment and innovation.
• Immersive Technology Training: The NCoE will focus on Virtual Reality (VR), Augmented Reality (AR), and 3D modeling, providing a creative playground for aspiring professionals.
• Gateway to Mastery: Students will receive cutting-edge training integrating India's cultural heritage with modern technology, fostering indigenous intellectual property (IP) creation and support the growth of India’s digital Creative Economy.
• Creative industry is now a $30 billion industry and is responsible for the employment of nearly 8 percent of India's working population.
• Job Creation: With an estimated 500,000 jobs generated, the NCoE will provide state-of-the-art infrastructure and specialized skills development.
• Hands-on Learning Opportunities: Students at the NCoE will benefit from practical, industry-driven courses that prepare them for jobs after graduation.
• Collaborative Ecosystem: By fostering partnerships among government entities, academia, and industry, the NCoE aims to create a dynamic environment for research and innovation in immersive technologies.