Priyank Kharge Highlights Vision for Global AVGC Dominance

By Pickle February 2, 2024

Priyank Kharge, the Minister of IT-BT, Karnataka, outlined the state’s pivotal role in nurturing the AVGC sector along with a comprehensive overview of the industry’s staggering valuation and India’s significant contributions to the sector globally

In a strategic move to position Karnataka as a global powerhouse in the Animation, Visual Effects, and Gaming industry, the state’s Minister of IT-BT, Priyank Kharge, has outlined a transformative vision for the AVGC industry in the state. Kharge emphasized the pivotal role Karnataka aims to play in this flourishing sector, with key insights into the staggering growth and potential.

As Kharge announced the AVGC sector’s leading conference and forum, Bengaluru GAFX 2024, which is scheduled to take place from January 29 to 31 in the city. He presented a comprehensive overview of the industry, citing India’s potential in the global AVGC market.

Vision for Making Karnataka as Indian AVGC Hub:
Kharge delved into the sector’s vast potential, citing the global Animation, VFX, and Gaming industry’s estimated worth of $366 billion. With a significant share of 46% in Animation and VFX and 54% in Gaming, India emerges as a formidable player. The gaming community, standing at 42.5 crores, witnessed a 28% rise in the market from 2020-2023, with an anticipated doubling to 33,243 crores by 2028.

Economic Impact and Employment:
Kharge highlighted the economic impact, emphasizing the direct and indirect employment surge within the gaming sector. Projections indicate that employment in the sector will double within a year, reaching approximately 2.5 lakhs. The surge in startups, boasting 1900 in 2023 alone, reflects the industry’s vibrant growth. Gaming app downloads reached a remarkable 430 crores in a single year, underlining the burgeoning market.

Animation and VFX Landscape:
Turning to Animation and VFX, Kharge noted a valuation of 107 billion rupees in 2022-2023. Stressing Karnataka’s need to lead in the AVGC segment, he underscored the potential cascading effects on commerce, business, and supporting industries like IT, services, software development, and electronics manufacturing.

GAFX 2024: A Catalyst for Growth:
Positioning GAFX as a vital milestone, Kharge emphasized its importance in nurturing skills, fostering the AVGC ecosystem, and creating a robust foundation. With an expected daily footfall of over 6000 professionals, GAFX 2024 is poised to facilitate skill development, networking opportunities through B2B platforms, and the launch of the much-anticipated AVGC policy. As Bollywood, Hollywood, and regional films continue to find their creative home in Karnataka, GAFX stands as a beacon for the industry and the state, transcending regional boundaries and impacting the global AVGC landscape.

Bollywood, Hollywood, and Beyond:
Kharge highlighted Karnataka’s role as the creative hub for Bollywood, Hollywood, and regional films, emphasizing GAFX’s significance in fortifying the industry and the state’s global standing. As the conference unfolds, Karnataka’s vision for AVGC dominance takes center stage, promising a paradigm shift in the global entertainment technology space.