PR No – 156
6th September, 2024
New Delhi
AVGC sector has potential to reach $500 billion by 2030, says Neerja Sekhar, Additional Secretary, Ministry of I & B, at Pix-Elated 2.0
Ms Neerja Sekhar, Additional Secretary, Ministry of Information and Broadcasting while discussing India’s goal of becoming a developed country by 2047, said that we have to be our own best at PHDCCI’s Pix-Elated 2.0. This festival of Animation, Visual Effects, Gaming and Comics (AVGC) was held today at PHD House, New Delhi, in partnership with the Ministry of Information and Broadcasting and AniMela with the theme ‘Nurturing Creativity and Talent.’
The Additional Secretary added that together, as industry, academia, and government, there was need to see where the world was heading and look at further scope of AVGC industry. Ms Sekhar also appreciated the Chamber for being a force multiplier in this segment. She reiterated that the government was fully committed to supporting the network of creators which will further grow this industry.
She emphasized the potential of the AVGC sector and its contribution to the creator’s economy and highlighted the extensive branding and monetisation opportunities it offers, of up to $500 billion by 2030.
On gaming, she shared that India has the second-highest number of gaming players in the world while game development is happening outside India. This, she said, must change and more Indian intellectual property should be created and we should excel globally. She mentioned that many states have policies within their IT departments and startup ecosystems to support this sector. She also highlighted the efforts being made through policies like NEP and educational institutions for the sector’s development. Additionally, she discussed the WavesIndia platform, where the Ministry is offering young talent a platform to participate and showcase their talent.
Ms Charuvi Agrawal, Chairperson, PHDCCI AVGC Committee, spoke about the future of AVGC and the connection between India’s cultural heritage and its creative potential. She emphasized that AVGC is a fertile ground for imagination and that for the industry, creativity and talent are sacred. It is crucial to position India as a global leader by nurturing creativity.
Ms. Agrawal also stressed the importance of spreading awareness about government policies and support, and informed the audience that the discussions from the event would be presented to the government. She concluded by saying, “Let us embrace the power of pixels where creativity thrives.”
Dr Ranjeet Mehta, CEO & Secretary General, PHDCCI, while speaking about PHDCCI’s support for the sector and the work of its AVGC committee, praised the industry’s growth. He encouraged young talent to turn ideas into ventures and discussed India’s booming startup ecosystem. He shared that in 2016 there were only 400 startups, and now there are more than 150,000, including over 150 unicorns.
He highlighted that there are oceans of opportunities as India progresses towards becoming a developed country by 2047, with young people’s contributions being key to this transformation. He added that the passion, great ideas, and determination of young people will build an empire in this sector and encouraged the youth to “learn, unlearn, and relearn,” as AVGC offers vast opportunities.
Mr Manvendra Shukul, CEO, Lakshya Digital and Member, PHDCCI AVGC Committee discussed how gaming has transitioned from being seen as a waste of time to now offering a variety of career and business opportunities. He informed the audience that the gaming industry is a $200 billion global industry and India has enormous potential in this space, offering promising career possibilities.
He further elaborated on the range of skills involved in the sector, including visual art, game design, animation, VFX, and engineering in production. He emphasized the importance of scaling and skilling in India, and the need for collective efforts and awareness to foster growth in the industry. Mr Shukul further appreciated the government’s support in nurturing the sector’s potential, expecting significant results soon.
He concluded by saying, the gaming industry is the next big thing, this is the space of the future, and it offers the maximum satisfaction for creativity.
The vote of thanks was delivered by Ms Vrinda Sood, Co-Chair, PHDCCI AVGC Committee.
Pix-Elated 2.0 was supported by the Ministry of Information and Broadcasting, Lakshya Digital, Wacom India, Sugal and Damani and MAAC Kalkaji, Kamla Nagar and Malviya Nagar. PHDCCI’s annual sponsors are DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd; Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram; R E Rogers; Trident Group; Ajit Industries Pvt Ltd; Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.; Hindware Sanitary; Jindal Steel; Modern Automobiles; P S BEDI & Co.
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Warm Regards,
Media Division
PHD Chamber of Commerce and Industry