Nuggets and Highlights from the CII Summit FX 2021

By Pickle  August 25, 2021
  • The six-day Summit FX (August 24-29) has been organised by CII in partnership with the Ministry of Information and Broadcasting; State Government of Karnataka and Software Technology Parks of India.
  • India needs an AVGC Council to integrate all the efforts being made by various State Governments, Central agencies and private combined learnings and avoid reinventing the wheel to maximize
    the availability of resources being deployed by these institutions.
  • Advocating the need for a National AVGC Skills Council, CII has emphasized that focus on education and skills will be a major pivot for the growth of the Indian AVGC sector
  • India has audiovisual coproduction treaties with 15 countries. This can be a key for growth in this AVGC sector. These treaties will be leveraged with industry to strike more global partnerships.
  • The global market size of AVGC sector is close to $260 billion to $275 billion, India’s market share is 1 per cent which comes to $2.5 Billion.  Some of the key issues for deliberation at Summit FX 2021 included defining a roadmap for exports as a key initiative and roadmap to leapfrog from current $2 billion to $20 billion creating global B2B opportunities.
  • AVGC produced locally attracts 18 per cent GST in India while there is no GST on AVGC content produced from outside the country. The government needs to abolish GST or
    reduce it to a minimum level to encourage local production.
  • eSports and Gaming are growing at a galloping speed in India. Focus on IP creation, skilling, training are key elements for the growth of the AVGC sector.
  • eSports is becoming mainstream, the cross platform play in gaming is enhancing both the opportunity and the monetization potential of this sector, 5G is set to boost cloud gaming, and more and more women will be seen playing online games in a few years from now.
  • Service exports from Animation, VFX and Gaming account for over 70%. It is a major source of export revenue for the country. Therefore, focus in the National AVGC policy should be to develop a special package to achieve higher exports and scale infrastructure facilities for the AVGC sector across every state.
  • Seeing the way that the Game Engine can function and the benefits it offers is going to be quite revolutionary for the film industry going forward. By embracing Game Engine filmmakers might actually be able to do world class work without having to dedicate huge production budgets. Unreal and Unity among others are advancing these technologies significantly.
  • The success of AVGC sector is fuelled by the respective AVGC policies and actions by the state governments of Karnataka, Telangana, Kerala, Maharashtra and  Madhya Pradesh can be emulated
    on a national level. Many other state governments are currently advancing such an agenda.
  • Each state can specialize in one particular segment of the AVGC industry, and should ensure that Indian MSMEs are given special incentives in that segment venture capital funding and startup
    labs etc.
  • The six-day virtual summit will see over 40+ Knowledge Sessions and over 100 speakers deliberating on a wide range of issues that cut across the spectrum looking to develop a cohesive industry engagement with core cross-sectoral policy dialogues and strategic exchanges.
  • CII SummitFX 2021 will see experts from the UK, the USA, Japan and key states like Telangana, Karnataka, Odisha, Madhya Pradesh, West Bengal and Jammu and Kashmir coming together to discuss the AVGC segment, and its transformation of India into a global leader. This platform will seek to curate and create an environment conducive to helping build a better future and achieve the targets of the segment.

(Highlights will be updated regularly during the CII Summit FX 2021)

Write a Reply or Comment

Your email address will not be published. Required fields are marked *