The study conducted by Bill Dennis, CEO of Toonz India Private Ltd and President, ASIFA, a worldwide professional body devoted to develop film animation said, Though the Indian animation industry is in an infancy stage, there is a lot of scope for India to become a global leader in the animation sector.
The country has the raw talent, ingenuity, culture, language, labour rates and entrepreneurial spirit to boost the business, Mr Dennis said.
The study was unveiled on the occasion of International Animation Day, organised by Padmalaya Telefilms Ltd. According to Mr Deniss, the animation industry in India is currently estimated at $10 million, including 3D special effects for live action films. The industry is growing at the rate of 25 per cent a year. This is particularly interesting when compared to the declining trend across the globe, he said in the report.
There has been a surge in new studio openings over the past three years. The number of animation studios is quite large, in comparison to the competitors. There were nearly 35 to 40-odd studios opened, taking the total to 70 studios next only to Korea (200 studios) in the Asian region, which is considered to be the leading contributor for the global animation market, he said in the study.
India has the largest percentage of children between 1-14 in the world. It has the means of large broadcasters, television sets to deliver animated shows apart from having captive audience for indigenous animation programming.
What is needed is a central mandate to encourage aggressive investment initiatives in original programming, he pointed out in the study.