Karnataka Sets Vision to Boost India's Animation and Gaming Market

Karnataka Minister Priyank Kharge has called for policies to increase India's contribution to the global animation and gaming market. India's current contribution of less than one per cent could grow to three per cent by 2030. The AVGC sector, worth USD 882 billion globally, sees India as an emerging leader.

Karnataka Minister Priyank Kharge stressed the importance of effective policies to enhance India's role in the animation and gaming market. Currently contributing less than one per cent, India's stake could rise to three per cent with targeted initiatives, he stated at Bengaluru GAFX-2025.

The global Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) industry's expected growth to USD 882 billion by 2030 presents opportunities for India, currently growing at a 10.94% CAGR in animation and VFX, Kharge emphasized. The gaming sector, with a 9.64% CAGR, has seen significant venture capital interest.

Highlighting Karnataka's contribution, Kharge discussed the state's AVGC Policy 2024-2029, aimed at fostering industry growth through AVGC Centers of Excellence. Karnataka, home to over 300 companies, plays a critical role in expanding India's global AVGC market share.

(With inputs from agencies.)