AVGC is not only a sunrise industry but a very promising industry and India has an opportunity to develop and become a leader in this field stated Shri Prakash Javadekar, Hon’ble Minister of Information & Broadcasting and Environment; Forest & Climate Change and Heavy Industries & Public Enterprises at the Inaugural session of Summit FX 2020. Gamification and animation will become a major export for the country and a wealth generator. We have formed an expert committee, through the Ministry of Information and Broadcasting & IIT Bombay, the committee has submitted its report to create a gamification centre. This is a landmark decision that will act as a forum for our entrepreneurs and help them to move ahead within the industry. This sector has the potential to change the way our children learn, and therefore the four days of deliberation by CII at Summit FX, will give us concrete recommendations and suggestions for the government and private sector, and can work together in this new avenue.
Mr Amit Khare, Secretary, Ministry of Information and Broadcasting lauded the efforts of CII in the M&E sector especially in the AVGC sector. Within the M&E sector, the AVGC sector is growing at around 29%, this is all through private initiatives. Government is working on its flagship project of developing an AVGC Centre of Excellence. The underlying policy of the government is to act as a facilitator where it requires interventions, and not regulation.
There is a consensus building that the Center and State Governments need to come together stated to promote Centers of Excellence for AVGC industry. We need to work with the State Governments further, and it is in this line we are working and finalizing the AVGC policy for the Government of India. Govt is also working on Audio-Visual Champion Sector scheme and provide incentives for people from all over the world to shoot in India for pre-production and post-production, this will include AVGC as well.
Recognising the growing need of trained manpower for AVGC Industry govt is considering to establish recognition mechanisms of prior learning courses while setting up the Centre of Excellence in partnership with industry. One of the biggest advantages this sector, revolves around the lack of need of physical locations. This will also help build overall digital infrastructure.
Mr Chandrajit Banerjee, DG, Confederation of Indian Industry expressed the importance of this growing sector and the need to create a facilitative environment. The gaming industry today has the potential to promote Indian culture across the globe. Summit FX will help develop timely thought leadership and insights to add value to the content creators, broadcasters, buyers, studios, production companies, distributors, technology providers and developers across the AVGC sector.
Mr K Madhavan, Chairman CII National Committee on Media & Entertainment and Managing Director, Star India Pvt Limited & Disney India stated the total global value for AVGC business is approx. 260 billion, while Indian share currently is less than 1%. The contraction of the industry due to the ongoing pandemic, can be corrected with the right policies and regulations and we will be able to bounce back to meet our target of 100 billion in 2030, out of which we expect a 15% contribution from the AVGC sector.
It is of utmost importance to form a Council where financial resources from the Centre and the States Govt. can complement other resources and investments stated Mr Biren Ghose Vice Chair, CII National Committee on Media & Entertainment and Country Head Technicolor India, CII can help facilitate this concept. While six states are pursuing an AVGC policy, it is urgent to have a National AVGC policy acting as a fountain of thought for other State policies. It is imperative to see how resources can be combined with the states and private sector to create one integrated plan, such as the national highway, to help create digital infrastructure across the nation.
Mr Siddharth Roy Kapur, Co-Chairman CII National Committee on Media & Entertainment and Managing Director Roy Kapur Films expressed the need for the Ministry of Home Affairs to open up Cinema Halls as there is a lot of worry and anxiety in the film industry, both on the exhibition and film side.
The Indian Media & Entertainment industry is transforming into a key driver of economic growth both at the national and global level, and will be fundamental to achieving our USD 5 trillion target. As the M&E industry faces several challenges amid the COVID pandemic, the time is opportune for necessary long-term structural changes, policies and regulations to be put in place to help the Indian M&E industry become a USD 100 billion industry. The AVGC segment has been rapidly growing and transforming as technology disperses across the land. In order to build a robust, cohesive and facilitative environment, CII has organized the Global AVGC Summit: Summit FX 2020. With over 30+ Knowledge Sessions, 135+ speakers and 15 buyers deliberating on a wide range of issues that cuts across the spectrum looking to develop a cohesive industry engagement with core cross sectoral policy dialogues and strategic exchanges.
CII Summit FX 2020 will see experts from the UK, USA, Australia, France, Singapore and key states like Telangana, Karnataka and Punjab together in the first of its kind, digital thought leadership platform to discuss the AVGC segment, and the transformation of India into a global leader. This platform will seek to curate and create an environment conducive to help build a better future and achieve the targets of the segment.
1 September 2020