Economic Survey 2019: Media industry to add 7-8 lakh new jobs in next 5 years

The Economic Survey 2019 has said that the government of India is in the process of setting up National Centre of Excellence (NCOE) for animation, visual effects, gaming and comics.

The objective is to “impart world class education in animation, gaming, visual effects and employment generation in the sector,” the survey said.

Government of India has taken over the possession of land from Government of Maharashtra in March, 2018 at Goregaon, Mumbai. The project is being executed through Indian Institute of Mass Communication, New Delhi.

The Animation, VFX, gaming and comics sector in India is a thriving business with even Hollywood movies being outsourced to India for work related to post-production which includes video editing, visual effects, animation, 2D-3D conversion, etc, the survey said.

It is one of the sunrise sectors for India and given the rapid expansion of the sector the requirement of skilled professionals is also immense, it added.

The survey also noted that the audio–visual services have been identified by the government (2018) as one among the 12 Champion Service sectors for focused development so as to reap its full potential.

In addition, the Government of India has decided to establish a Film and Television Institute in Arunachal Pradesh. The aim is to encourage talent among youngsters of the north east in the sector of film and television, the survey said.

The project has been sanctioned at an estimated cost of Rs 204.32 crore.

Foundation stone for FTI, Arunachal Pradesh was laid in February 2019.

A temporary campus has been set up in Itanagar where short courses have been conducted.

The media and entertainment (M&E) is becoming an aspirational sector for the youth and is also a catalyst in job creation.