Summary:

India's animation and VFX industry is projected to grow from US$ 1.3 billion in 2023 to US$ 2.2 billion by 2026, increasing its share of the media and entertainment industry from 5% to 6%. The AVGC-XR sector, which includes animation, visual effects, gaming, comics, and extended reality, currently represents around 20% of India’s M&E industry and is expected to expand rapidly.

The report forecasts that the online gaming market will rise to US$ 4.6 billion by 2026, increasing its M&E sector share from 10% to 13%. Valued at US$ 2.62 billion, it is anticipated to generate over 160,000 new jobs annually, reaching a total of 2 million by 2030. The report advocates for the implementation of the National Draft Policy Framework for AVGC-XR, improved Intellectual Property Rights, and support for AVGC-XR entrepreneurs and innovation.

Source: IBEF 

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.