Indian animation, gaming industry growing at CAGR of 22 pc
Animation and Gaming global market is expected to touch over 153 billion US Dollars during this year
BANGALORE, INDIA: A business-focused audience listened intently as an array of Indian and foreign speakers kicked off the Karnataka Animation, Visual Effects, Gaming and Comics (AVGC) organized by The Association of Bangalore Animation Industry (ABAI), in collaboration with the Government of Karnataka.
The inauguration by S R Patil, minister for IT, BT and S&T Government of Karnataka, set the tone for the day which involved Karnataka as the host but with a global focus to script the future of the industry.
Also present were I S N Prasad, principal secretary, Department of IT, BT and S&T, Government of Karnataka, and CEOs and MDs of several well-known companies in this sector like Rajesh Rao of Dhruva Interactive.
Addressing the delegates, S R Patil said, "Karnataka is the first state to announce a dedicated policy for Animation, Visual Effects, Gaming and Comics Policy in the country."
"AVGC sector is growing at a CAGR of over 10 per cent across the globe," he said and further added that the Animation and Gaming global market alone is expected to touch over 153 billion US Dollars during this year.
Patil further opined that the Indian Animation and Gaming industry when compared to the global market is growing at a CAGR of 22 per cent and is expected to cross 5 billion US Dollars during this year.
"Our aim is to make Karnataka the most preferred and lucrative outsourcing destination as well as attracting venture capital funding for new entrants in the AVGC sector," he added.
Biren Ghose, president, ABAI and Country Head, Technicolor India, said, "The 2013 edition of the ABAI Karnataka AVGC Summit is meant to provide new direction to professionals and companies highlighting growth and opportunity areas. It showcases our engagement with the academia, government and industry and highlights the policy execution we have enabled as well as the roadmap for the next year."
The second "ABAI Leadership Excellence Award" Award was given to Rajiv Chilakalapudi, the creative and business force behind the Indian animated phenomenon "ChhotaBheem", India's first bona fide television success in this genre.
From the multinational side, Damian Froberville, Country Head of Dreamworks, described the progress of the Indian unit of Dreamworks and also gave some insight into the Asian scenario for global services.
ISN Prasad, Principal Secretary to Government Department of IT, BT and S&T, Government of Karnataka said: "Karnataka will continue to lead the animation, visual effects, gaming and comics growth in India. We have partnered with a cross section of the digital content industries through ABAI."
Through the day, the event picked up steam with a variety of panels attended by senior executives of some of the best known companies in the industry.
The panels included subjects like Visual Effects, Animation and Digital Content. An international flavor came from a session on Canada which is one of the world's largest producers of animation. This provided many insights about how to develop the sector through a combination of private, state and international support.
Panelist Sean Feeney of Prime Focus World London, said, "With constant demand for full CG content from Hollywood and the TV studios, with a mass of experienced artists, Indian studios if properly managed and directed are perfectly placed to access this work. So I am very excited to talk at ABAI Summit in Bangalore on this subject, and to meet the people who are at the core of the business."
Source : CIOL
Date : 2013-09-06