India’s animation, VFX sector to reach `3 L-cr by 2024: Rotomaker
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Hyderabad City-based VFX company, Rotomaker said that as India is poised to be the third-largest economy, it has the potential to be a creative superpower in the media and entertainment industry especially in Animation, Visual Effects, Gaming and Comics (AVGC) sector.
Founder and CEO of Rotomaker Mike Yatham (Madhava Reddy) was speaking during an event held to mark the company’s 15 years of operation and announcement of the sixth edition of Asia’s biggest digital entertainment festival IndiaJoy. The fest will be held from October 31 to November 4, 2023 at HICC in Hyderabad.
Citing industry reports, Yatham said that India is emerging as the hub for visual effects and animation. “Media and entertainment Industry is expected to reach Rs 4,30,401 crore (US$ 53.99 billion) by 2026. Major growth will be witnessed in the Animation and VFX segment. The Animation, Visual Effects, Gaming and Comics sector is estimated to grow at nine per cent to reach Rs 3 lakh crore (US$ 43.93 billion) by 2024.”
On the occasion, Rotomaker announced the launch of its educational venture AVGCI to develop world-class creative talent to serve the robust domestic and global demand. The multimedia training institute, an industry focused experiential learning platform, will provide animation, VFX and gaming field training.
Huzurnagar MLA Shanampudi Saidi Reddy; Telangana IT Principal Secretary Jayesh Ranjan; Rachakonda Police Commissioner Devendra Singh Chauhan; Technicolour Country Head Biren Ghose; Telangana Film Chamber of Commerce president K Basi Reddy; Founder and CEO Green Gold Animations Rajiv Chilaka, and others were present.
