{"id":18276,"date":"2024-09-28T12:59:08","date_gmt":"2024-09-28T07:29:08","guid":{"rendered":"https:\/\/matribhumisamachar.com\/en\/?p=18276"},"modified":"2024-09-28T12:59:08","modified_gmt":"2024-09-28T07:29:08","slug":"media-and-entertainment-sector-poised-for-a-significant-leap","status":"publish","type":"post","link":"https:\/\/matribhumisamachar.com\/en\/2024\/09\/28\/media-and-entertainment-sector-poised-for-a-significant-leap\/","title":{"rendered":"Media and Entertainment sector poised for a Significant Leap"},"content":{"rendered":"<p style=\"text-align: justify;\">The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the\u00a0establishment of the\u00a0<strong>National Centre of Excellence (NCoE)<\/strong>\u00a0for\u00a0<strong>Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR)<\/strong>\u00a0as a Section 8 Company under the Companies Act, 2013 in India with Federation of Indian Chambers of Commerce &amp; Industry and Confederation of Indian Industry representing the industry bodies as partners with the Government of India. The NCoE will be set up in Mumbai, Maharashtra and is in pursuance to the Union Minister for Finance and Corporate Affairs\u2019 budget announcement for 2022-23 for setting up of an AVGC Task Force in the country.<\/p>\n<p style=\"text-align: justify;\">AVGC-XR sector today plays an indispensable role in the entire realm of Media and Entertainment including filmmaking, Over The Top (OTT) platforms, gaming, advertisements and several other areas including health, education and other social sectors thereby encompassing the overall structure of the country\u2019s growth story. With rapidly evolving technology and increasing internet penetration all across the country, coupled with one of the cheapest data rates, the usage of AVGC-XR globally is poised to grow at an exponential pace.<\/p>\n<p style=\"text-align: justify;\"><strong><u>Driving the growth of AVGC-XR sector<\/u><\/strong><\/p>\n<p style=\"text-align: justify;\">To keep up with this brisk pace, the National Centre of Excellence is being established to act as the pinnacle institution to anchor the AVGC-XR ecosystem in the country. Along with offering specialized training-cum-learning programs to equip both amateurs and professionals with the latest skill sets in cutting-edge AVGC-XR technologies, this NCoE will also\u00a0<strong>foster research<\/strong>\u00a0and\u00a0<strong>development\u00a0<\/strong>and will bring together experts from various fields like computer science, engineering, design and art that can lead to major breakthroughs in the field of AVGC-XR. This National Centre of Excellence will also extensively focus on creation of India\u2019s IP for both domestic consumption and global outreach, overall leading to creation of content based on India\u2019s rich historical and cultural heritage. Further, the NCoE will function as an incubation centre by providing resources for nurturing startups and early-stage companies in the AVGC-XR field. Also, NCoE will serve not only as an academic accelerator but also a production\/ industry accelerator.<\/p>\n<p style=\"text-align: justify;\">By positioning this NCoE as the driving force for the growth of AVGC-XR industry it will serve as one of the biggest sources of employment for the youth from all parts of the country. This will give an enormous push to the creative arts and design sector and make India the hub for AVGC-XR activities furthering the goals of the Atmanirbhar Bharat Initiative.<\/p>\n<p style=\"text-align: justify;\">The NCoE for AVGC-XR will also position India as a\u00a0<strong>content hub<\/strong>\u00a0for providing\u00a0<strong>state-of-the-art content<\/strong>\u00a0thereby enhancing India\u2019s\u00a0<strong>soft power<\/strong>\u00a0globally and attracting\u00a0<strong>foreign investment<\/strong>\u00a0into the Media &amp; Entertainment Sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the\u00a0establishment of the\u00a0National Centre of Excellence (NCoE)\u00a0for\u00a0Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR)\u00a0as a Section 8 Company under the Companies Act, 2013 in India with Federation of Indian Chambers of Commerce &amp; Industry and Confederation of Indian Industry representing the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[136],"tags":[15841,15842,9335,1433,14461,15840],"class_list":["post-18276","post","type-post","status-publish","format-standard","","category-national","tag-consumer-trends","tag-digital-media","tag-industry-growth","tag-innovation","tag-media-and-entertainment","tag-transformation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - 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