In a bid to bolster the Indian orange economy, FM Nirmala Sitharaman announced support for the Indian Institute of Creative Technologies in Mumbai to set up AVGC (animation, visual effects, gaming and comics) and content creator labs across 15,000 secondary schools and 500 colleges across the country. Presenting her ninth consecutive Budget, the FM said that the move will aid the sector meet the growing manpower demand of the AVGC sector and provide employment to 2 Mn professionals by 2030. The FM also proposed establishing a new National Institute of Design and Development to train the youth in visual designing. “The Indian design industry is expanding rapidly and yet there is a shortage of Indian designers. I propose to establish through challenge route, a new National Institute of Design to boost design education and development in the eastern region of India,” she said. Notably, the government has been promoting the AVGR sector for the past few years. The sector, which has been identified by the government as a high-potential segment within the services economy, is projected to reach a size of $33.5 Bn by 2027. The government expects this ecosystem to scale up to $100 Bn by 2030, signalling a… Read MoreInc42 Media
