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Positive effects of Budget 2022 on AVGC industry

Positive effects of Budget 2022 on AVGC industry

A taskforce for the Animation, Visual Effects, Gaming, and Comics (AVGC) industry would assist India prepare to play a bigger part in Global development, as well as cater to the Indian market and fulfil worldwide demand.

The AVGC industry task-force will increase domestic capacity and fulfill global demand.

Sustainable development depends upon sustainable business development.

Sitharaman stated that 5G mobile services will be available by 2022-23, and that a 5G spectrum auction will be held this year to help with the roll-out. She also predicted that by 2025, all Indian villages will be connected by optical fibers, allowing for inexpensive broadband access.

Indian Budget 2022 on Gaming With AVGC Task Force Announced

Further opportunities of job creation in Animation, Visual effects, Gaming, and Comics jobs have all been introduced. The finance minister used the phrase AVGC. To encourage young people to pursue contemporary methods of employment development and revenue generation.

 The government will implement a plan to support the creation of job opportunities for young people. The employment creation initiative involves new and more inclusive ways to encourage people to work.

The government plans to partner with numerous institutes such as IITs and others to aid in the development of re-skilling and up-skilling programmes tailored to this industry.

In the animation industry, this would help to reduce the large number of unemployed young people, many of whom are not in a situation to find better jobs as of yet. The number of unemployed youths in the industry has grown over the years with an increasing demand for animation. The government wants to build the economy using more modern and creative methods, for instance, by expanding the gaming industry.

Government's Move to Form Animation, Gaming Promotion Squad Seen as Impetus  to Strong Growth | NDTV Gadgets 360

The government wants to encourage people to use innovative ways of making a living by offering more employment opportunities. It is hoped that this is going to generate new revenue, create more jobs for the young and ensure that people have money to spend on new ways to enjoy themselves.

To find work in this area, students in the animation industry need to get experience first of all. This is only possible by having work experience in animation-related work. By gaining this work experience, they can learn how to create videos, videos that are designed for use in gaming, and other works. It will be possible for students to enter into gaming after getting this experience.

This is the reason why it is important for students to gain experience in this field of work, for the benefit of their future employment. The first thing students need to do in this industry is to know how to create videos. These videos will help people in the gaming industry, and even non-gaming industries.

Students need to learn about games, how to create them, and what is involved in the game making process. Students also need to learn about the various tools that are used in the industry, and how these tools can be used to create better works. For students that want to work in the gaming industry, there are online courses that can help them learn how to create and create video games.

Online courses can make learning in this industry possible and affordable.

India’s Animation, Gaming, Visual Effects, and Comics (AVGC) Industry, India’s AVGC industry grew rapidly over the last ten years and is expected to expand at a 20–30% yearly rate . The industry has been a strong driving force behind the national growth and development of India’s information technology sector and holds one of the largest software outsourcing centers in the world, accounting for more than 12% of Indian IT exports. The growth has been aided by both the Indian Government and Indian businesses who have invested heavily in the development of industry.

Budget 2022 goes tech-tonic! FM puts focus on e-passport, 5G, gaming, AVGC,  EV battery swapping & more - The Economic Times

According to a research released by KPMG in June 2021, the number of gamers in India increased to over 400 million by the middle of 2020, up from around 250 million at the end of fiscal year 2018-19. After China, it now has the world’s second-largest online gaming population. Online casual gaming, which accounts for a significant portion of overall gaming income, is expected to expand at a CAGR of around 29% over the next four years, reaching Rs 169 billion in FY25.

The industry is divided into several sectors: Gaming, animation, visual effects, computer graphics, video games, television and films, and comics. The government has introduced several initiatives to create a more dynamic, competitive and productive sector.

The industry is now a key pillar of the Indian Government’s Make In India initiative. The industry has seen a significant level of growth in India, and the government’s recent initiatives to aid the sector are expected to assist the industry’s growth.

India’s growth in the AVGC industry can be attributed to a number of factors, including: The success of the Indian Government’s e-commerce industry and India’s large, highly educated population. This allows India to sell a variety of products overseas. India’s IT/ITeS industry, which has provided cheap and skilled workforce for the AVGC industry. An aggressive approach to research and development for improved processes and technology.

India’s AVGC industry grew rapidly over the last ten years. According to PwC, the industry is expected to grow at a 20–30% rate by the end of the decade. The growth has been fueled by rapid technological advancement, including: The government’s support of companies which are involved in the development of the industry. The growth of India’s IT/ITeS industry, which has provided cheap and skilled workforce for the AVGC industry. Improved industry standards and regulations.


Budget 2022: Media & entertainment industry calls AVGC task force  progressive - BusinessToday

This is an extremely new opportunity that will have an enormous impact on many, especially the young. The government hopes that there will be a large number of people seeking to learn these methods.

Many young people are not aware that they can work as video creators. Many people believe that these are just computer games, but that is not entirely true. There are people who actually create video games, movies, and even animation. Creating movies can be an extremely profitable business, as much as other jobs, and young people need to know about this opportunity.

 The government is therefore looking for ways to encourage them to join this opportunity by offering them more and more jobs.

Edited and published by Ashlyn Joy




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