AVGC: All You Need To Know About Task Force Setup By Finance Minister

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All You Need To Know About AVGC Task Force Setup By Finance Minister Nirmala Sitharaman 

| Updated: February 2, 2022 20:07

Finance Minister Nirmala Sitharaman on Tuesday announced the Union Budget. Out of all her announcements, what caught the eye of the youth was the announcement to set up the task force for the Animation, Visual effects, Gaming and Comic (AVGC) sector. 

Sector With Huge Potential:

AVGC task force  will be set up by the Government which will recommend steps for the promotion of the animation, visual effects, gaming, and comic (AVGC) sector. It’s a huge step by the Government as AVGC sector has an untapped potential to offer 20 lakh jobs in the sector and in the current scenario in the country where youth has limited avenues of growth in their career, AVGC sector will give immense growth prospects to youth. 

The AVGC sector has a huge scope for the youth of this country as video games is an industry that has many professional gamers like Johan Sundstein who earn around $7.2 million. The Gaming side of AVGC sector offers interesting job opportunities like commentators, casters, producers, editors, analysts, product managers, game testers, referees, production crew members, event managers and social media managers to name a few. 

Current Scenario:

The AVGC is a fast growing sector as it has created an economic impact driven by its size and scale. Currently the sector is contributing Rs. 11,000 crore in taxes, including GST and TDS. It has attracted FDI worth over Rs. 10,000 crore and created 12,000 jobs for graphic designers, motion designers, creative writers, storytellers, data analysts, user experience researchers and software programmers.  

Global Scenario:

Pixar Animation Studio is a great example of what an animation, visual effects focused company can do. It was founded in 1986 with funding from Steve Jobs and was later sold to Disney in 2006 with a valuation of $ 7.4 billion.  The studio has earned many Golden Globe Awards,Academy Awards and Grammy Awards, to name a few. India has an untapped potential in the AVGC sector as many of the great minds of the industry are from India. If given a platform talented youth can achieve great success for the country. 

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