Bengaluru GAFX2024 is organised at a time when the Indian Animation, Visual Effects, Gaming & Comics (AVGC) sector is going through exponential growth backed by the growing soft power of the country. Even though it is a more than $500 billion global industry, India’s contribution is minimal as our industry is yet to take off in a large scale with the advent of 4G and 5G led mobile revolution. This year’s focal theme for Bengaluru GAFX is Augmented Intelligence: Powering AVGC’ and it serves as a unifying force, bringing together the AVGC industry for an audience of knowledge exchange. The event aims to create a common platform, fostering collaboration among industry, academia, and government to deliberate the learnings, trends, challenges, and future roadmap of the AVGC sector.
AVGC industry is spread across the country with the film industry is located majorly in Mumbai and Chennai. However, the software capabilities of Bengaluru shifted the fulcrum of the industry to Bengaluru as many global studios working in Hollywood and in Europe found the city a hub for its software talent powering the post-production requirement. Karnataka has long been the torchbearer state in India across technology, innovation, and growth. Karnataka, a trailblazer in the global technology arena, is proud to lead the nation’s Media & Entertainment sector, contributing 20% to the industry. With over 15,000 professionals and 300 specialised studios, Bengaluru GAFX celebrates Karnataka’s role as a global AVGC hub.
It is interesting to note that the state claims to generate 30,000 jobs by 2028, targeting 80% of revenue from exports. Karnataka is betting big on its AVGC policy that rests on six strategic pillars—emphasising skill development, infrastructure, startup empowerment, global market access, incentives, and a ‘Mobile First’ approach. Since 2012, Karnataka has been a pioneering force, boasting 139 specialised institutes and Digital Art Centers, with the Karnataka Centre of Excellence (COE) serving as a unique facility nurturing creative technologists and technicians. The government is also very much focussed on leveraging AVGC-XR-focused incubators and thus becoming a global skilling epicentre, aiming to position Karnataka as the world’s #1 hub for creativity and technological advancement.
AVGC industry also should be looked at along with film, television and event production business also. According to a report by PwC, Indian Media and Entertainment industry is projected to grow at a compounded annual growth rate of 8.8% by 2026 to reach Rs 4.30 lakh crore. Digital media and advertising would drive growth through deeper penetration of internet and mobile devices in the domestic market, accompanied by traditional media, which will maintain steady growth. It is also very important to understand that India with its diversity, primarily because of its rich more than 10 regional languages, gives another level of business landscape with a massive 1.5 billion population and equally sizeable global diaspora. Since there is a growing synergy of creativity and technology that defines the AVGC industry having its impact in film, TV serial and advertising production, it is impartant to note that Bengaluru GAFX 2024 provides the platform for government and industry collaboration, propelling the AVGC and Indian entertainement industries in India to new heights.
