India is the world's second-largest anime fan community, and it is expected to account for 60% of the global increase in anime interest in coming years. The new National Centre of Excellence (NCoE) for the AVGC-XR (animation, visual effects, gaming, comics, and extended reality) sector is anticipated to generate 5 lakh employment, according to the government.

The animation business in India is growing and provides a promising future for dedicated young talent, with a 25% growth rate and an expected value of Rs 46 billion by 2023 (according to a FICCI-EY research).

The AVGC-XR sector is poised to shape the future of the media and entertainment industries. In this context, the Cabinet approved the formation of the NCoE for the AVGC-XR sector in Mumbai, with the goal of advancing the creators' economy and ensuring economic development and job opportunities.

NCoE will be established as a Section 8 Company in India under the Companies Act, 2013 in collaboration with the Federation of Indian Chambers of Commerce and Industry and the Confederation of Indian Industry (CII), which will represent industry groups as partners with the government.

The center's goal is to transform the AVGC industry and stimulate innovation in immersive technology. It would be inspired by prestigious institutions such as the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs).

"India's animation industry is expanding rapidly, fueled by rising demand for films, visual effects (VFX), game animation, and interesting mobile content. "This surge creates exciting opportunities for skilled and enthusiastic animators," says the Ministry of Information and Broadcasting.

The NCoE focuses on developing Indian intellectual property, exploiting our cultural legacy in the contemporary age, and generating a multiplier impact in the sector.

The centre is modeled after prestigious institutions such as IITs and IIMs. The center will offer world-class infrastructure, cutting-edge technology, and specialized skills to help establish a strong talent pool.

Students will get practical experience through industry-related courses, ensuring that they are job-ready upon graduation."The NCoE will stimulate relationships between central and state governments, academia, and business, resulting in a vibrant ecosystem for immersive technology research, development, and innovation. "This is where India's next-generation creators will thrive," the government said.