Summary:

Ms. Namit Malhotra, CEO of DNEG, plans to adapt the Ramayana for the big screen in collaboration with actor Mr. Yash's Monster Mind Creations and director Mr. Nitesh Tiwari. This ambitious project aims to rival renowned blockbusters like Dune and Avatar. DNEG, based in London and winner of seven Oscars for visual effects on films such as Inception and Interstellar, has secured $200 million from the UAE's United Al Saqer Group, boosting its valuation to over $2 billion. This signifies major shifts in the global visual effects industry, valued at $30 billion, with India emerging as a key player.

The demand for visual effects is increasing, especially in period films, horror, and action genres. Leading companies like DNEG and Technicolor are at the forefront. India plays a crucial role in providing labor for simpler VFX tasks. DNEG has expanded its global workforce from 700 to over 10,000, while Red Chillies VFX, founded by Shah Rukh Khan, focuses on high-end Indian films and plans to scale up. Despite challenges in profitability and talent retention, India's storytelling and technological expertise offer strong potential for future growth. Attracting and retaining skilled professionals will be crucial for sustaining this momentum.

Source: IBEF 

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