Animation, gaming sector can help take services exports to USD 1 tn in next 10 yrs: Goyal

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August 27, 2021 10:13 PM

The minister noted that Indian entrepreneurs are innovative and “I would love to see movies like Star Wars, or Avengers or Matrix being produced in India.”

Piyush GoyalCommerce and Industry Minister Piyush Goyal

Animation, Visual Effects, Gaming and Comics (AVGC) sector holds huge potential for growth and can help in taking services exports to USD 1 trillion in the next 10 years, Commerce and Industry Minister Piyush Goyal said on Friday.

He also said there is a need to create a roadmap for the expansion of this industry.

Skill development programmes can also be built around the needs of the sector, he added.

The AVGC sector can help “our efforts to reach a USD 1 trillion of services exports in the next 10 years,” Goyal said at at CII’s Animation, Visual Effects, Gaming and Comics Summit.

The minister noted that Indian entrepreneurs are innovative and “I would love to see movies like Star Wars, or Avengers or Matrix being produced in India.”

He urged the private sector to expand the industry and take it to tier-II and III cities as they have a huge talent pool.

The sector is growing at  9 per cent and expected to reach about Rs 3 lakh crore by 2024, he said.

Goyal added that from pre- to post-production, the sector can bring cost competitiveness and efficiency at each touchpoint.

“100 per cent FDI allowed in major segments of industry, (and) global players are exploring opportunities in India.

“India’s animation studios have worked with international players such as Disney, Warner Brothers and Dreamworks and our talented artists have been part of many international award-winning works,” he said.

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