Government Expands Digital Support for India's AVGC-XR Industry

The Ministry of Information and Broadcasting has established WAVES Bazaar, a digital platform that serves as a year-round global marketplace for the Media and Entertainment industry.

The Government has strengthened support for India's fast-growing Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR) sector by launching two digital platforms and expanding international partnerships through the newly established Indian Institute of Creative Technologies (IICT). The initiatives are designed to help businesses, creators and startups connect with investors, global markets and advanced technologies. The information was shared by Minister of State for Information and Broadcasting and Parliamentary Affairs Dr. L. Murugan in a written reply in the Lok Sabha.

WAVES Bazaar opens global business opportunities

The Ministry of Information and Broadcasting has established WAVES Bazaar, a digital platform that serves as a year-round global marketplace for the Media and Entertainment industry. The platform enables companies and creators to connect with business partners, investors and international buyers while supporting structured business-to-business meetings and collaborations.

WAVES Bazaar covers a wide range of creative sectors, including films, animation, visual effects, gaming, extended reality, immersive media, music and digital content. The platform is intended to improve market access and encourage international partnerships for Indian creative enterprises.

WaveX supports startups through industry connections

The Ministry has also launched WaveX, a dedicated platform focused on startups working in the Media and Entertainment sector. The platform helps entrepreneurs connect with investors, incubators and industry partners while providing opportunities for networking and business pitching.

WaveX does not provide direct financial support. Instead, it assists startups by connecting them with incubation programmes, mentorship opportunities and funding networks that can help transform innovative ideas into commercial ventures.

IICT to strengthen skills and innovation

To further develop the AVGC-XR ecosystem, the Government has established the Indian Institute of Creative Technologies (IICT) as the National Centre of Excellence for the sector. The institute has been set up in collaboration with the Government of Maharashtra and industry bodies to support skill development, research and industry growth.

IICT has also entered into partnerships with leading international technology companies and academic institutions. These collaborations will support curriculum development, specialised training programmes, research initiatives, startup incubation, internships, scholarships, industry mentoring and international skill exchange.

Building a globally competitive creative industry

The Government believes these initiatives will help strengthen India's position in the global creative economy by encouraging innovation, improving industry skills and creating stronger links between academia, technology companies and creative businesses.

With dedicated platforms for business development and startup support, along with a national centre focused on advanced training and global collaboration, the AVGC-XR sector is expected to gain greater opportunities for growth in domestic and international markets.