Union Cabinet Approves National Centre of Excellence

On 18th Sept 2024, the Union Cabinet approved the establishment of the National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai, aiming to position India as a global content hub.

Key Points

Industry Partnership: The NCoE will operate as a Section 8 Company under the Companies Act, 2013, in partnership with industry bodies like the Federation of Indian Chambers of Commerce & Industry (FICCI) and the Confederation of Indian Industry (CII).
Emerging Industry Shift: Experts emphasize the importance of this initiative as the media industry undergoes a transformation driven by changing consumer behavior, the rise of the creator economy, and advancements in technology.
Specialized Training and Development: The NCoE will offer training programs for both beginners and professionals in AVGC-XR technologies, fostering research and development across computer science, engineering, design, and art.
Fostering Innovation and Employment: As an incubation center, the NCoE will support startups, promote India’s intellectual property, and create content inspired by India's cultural heritage. It will also serve as an employment generator for youth across India.
Boosting India’s Global Influence: The government highlights the NCoE's role in making India a hub for AVGC-XR, enhancing its global soft power and attracting foreign investment in the Media and Entertainment sector.