Union Budget 2022: Prime Minister Narendra Modi talks about development in AVGC sector

Prime Minister Narendra Modi praised Finance Minister Nirmala Sitharaman's Union Budget 2022, describing it as progressive and people-friendly

Union Budget 2022: Prime Minister Narendra Modi talks about development in AVGC sector

Prime Minister Narendra Modi praised Finance Minister Nirmala Sitharaman’s Union Budget 2022, describing it as progressive and people-friendly. He claims that it is brimming with fresh opportunities for increased infrastructure, investment, growth, and jobs. PM Modi’s ‘Atmanirbhar Arthvyawastha’ address to BJP activists, in which he gave information about the Sports and AVGC sectors, was delivered yesterday. Let’s take a closer look at it.

Union Budget 2022: Prime Minister Narendra Modi talks about development in AVGC sector

Today, the Animation, Visual effects, Gaming, and Comics (AVGC) sector is witnessing rapid growth in India. India is among the top 5 markets in the world when it comes to mobile gaming. As per the estimate, this sector is expected to reach 3 lakh crore in the next 2 years. Now the point is, we cannot stop our child from playing games in the family. But, will they just be playing games developed outside India or India will do something on its own. Hence, in order to give a chance to our country’s talent to innovate – there is tremendous potential for ‘Create in India and Brand in India.’ The budget has also talked about creating a task force for making India the global games developer and gaming services hub in the world.


Watch time stamp: AVGC: “51.18 – 52.42”

Also Read: Union Budget 2022 Highlights: Emphasis on Animation, Visual Effects, Gaming And Comics (AVGC) task force, Esports Budget 2022

In this regard, Mr. Lokesh Suji, Director, Esports Federation of India & Vice President of the Asian Esports Federation (AESF), quotes, “Esports has been included in the upcoming Asian Games 2022 with eight medal titles, it’s high time for our government to recognize esports (as a sport) and ESFI. This step will bolster the training and preparation of our esports athletes and motivate them to bring laurels for our country in the upcoming Asian Games 2022. As our honorable Prime Minister also emphasizes on “Create in India and Brand in India” in the video gaming sector, this is an opportune time for Indian game developers to build esports titles based on Indian culture, essence & ethos which can compete with the International esports titles, if done correctly, we would have Indian esports titles played across the global esports championships including Asian & Olympic Games.”

Union Budget 2022: Prime Minister Narendra Modi talks about development in AVGC sector

Manish Agarwal, CEO, Nazara Technologies Ltd. shared their thoughts, “Welcome move by the government to promote AVGC (Animation, Visual Effects, Gaming, and Comics) by setting up a task force to seek recommendation to create the way forward. As we know, India presently commands around 10% of the global AVGC market and has the potential to reach 20-25% by 2027. This task force will facilitate employment for the youth, build domestic capacity to serve the Indian markets, and also meet global demand.”

PR. Rajendran, Co-Founder and CEO, Next Wave Multimedia Pvt. Ltd.

“Gaming as an industry has been gaining traction in the country, especially with the digital push over the last few years. AVGC primarily being creative content creation, is human capital intensive and cannot be automated, and are excellent for job creation. The announcement of an AVGC promotion task force is a welcome move for the industry as it will provide means to the new talent in the industry with direction and opportunities and in turn, cater to skilled manpower needs in the gaming space.”

ABHISHEK AGGARWAL, CO-FOUNDER & CHIEF EXECUTIVE OFFICER (CEO), TRINITY GAMING,

“It is absolutely encouraging to see the government taking notice and making announcements for the rapidly growing AVGC sector. It will not only help us grow at a faster pace but will also bring validation and credibility for this sector. AVGC is already providing employment to many in the country, and with this promotion task force coming into the picture, it will help the stakeholders like us immensely.”

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