Commerce Minister Piyush Goyal comments that VFX and Animation Industry has huge export potential.

The CII SummitFX 2020- Global AVGC Summit took place last week and while addressing the industry representatives there, commerce and industry minister Piyush Goyal said that the animation, visual effects (VFX) and gaming industry holds huge export potential for India and the segment can add a lot in the country’s foreign exchange earnings.

The sector “can add to a lot of foreign exchange earnings and there is a huge export potential that your sector has and every opportunity needs to be seized both domestic or international,” he mentioned.

On the request of the industry for some kind of support measures, he asked them to submit proposals so that it can be taken up with the finance ministry. On the opening of more National Institutes of Design (NID), he said the ministry is struggling to get people for the existing five institutes. “Help me in running those NIDs, without off-course bringing too much politics or radicalism into the NIDs. I want them to be education institutes, not political institutes.”

The animation, visual effects and gaming sectors are critical to India’s media and entertainment industry growth in terms of innovation and job creation, said senior government officials last week.

Union I&B minister Prakash Javadekar who sent a video message since he couldn’t be at the summit in person added, “AVGC is a promising and fast-growing sector that India has great opportunity to develop. Like Bollywood, music, and IT, this is soft power that can emerge as a major revenue generator.”

The pandemic has compelled several content creators to turn to animation and VFX, as the work can be done from home and the technologies involved can reduce the time and cost for film shoots.

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Ashwathi Anoopkumar