Exploring the Innovative Path of India's Entertainment Industry: Key Takeaways from the 5th International Summit on Animation, Visual Effects, Gaming, and Immersive Media in 2024
The 5th edition of Summit Racing, a Global AVGC and Immersive Media Summit, was recently hosted by the Confederation of Indian Industry (CII) in New Delhi. The event brought together over 300 stakeholders, 50 speakers, and 12 dynamic sessions, with a focus on discussing the future of the Animation, Visual Effects, Gaming, and Comics (AVGC) industry in India.
The summit was themed as "Connecting Creativity with Technology" and partnered by the Ministry of Information and Broadcasting, Government of India with Karnataka as the "State Partner". The report emphasized the need for India to develop its own Intellectual Properties (IPs) and capitalize on its storytelling heritage.
Regional growth was another critical focus, with discussions on the "hub and spoke" model to ensure a balanced distribution of growth opportunities across India. This model aims to create regional hubs that can attract talent, investment, and infrastructure, while also fostering collaboration and knowledge exchange.
A major takeaway from the summit was the need for India to expand its presence in international markets and build a robust domestic market to mitigate global fluctuations. Building awareness about AVGC career opportunities, particularly in underrepresented regions, is essential for expanding the talent pool and fostering inclusive growth.
The summit emphasized the importance of public-private partnerships, skill development programs, and targeted investments to address the challenges associated with the adoption of emerging technologies in the AVGC sector. Innovation was a recurring theme throughout the summit, with particular attention given to how emerging technologies like Artificial Intelligence (AI), Virtual Reality (VR), and Extended Reality (XR) are reshaping the AVGC landscape.
The National Centre of Excellence (NCoE) in AVGC emerged as a cornerstone of the ecosystem envisioned to achieve the vision of transforming India's AVGC sector into a creative powerhouse. The growth of the AVGC sector depends on the availability of skilled talent, and the government's commitment to building a robust talent pipeline is demonstrated through initiatives like the revamping of 1,000 Industrial Training Institutes (ITIs) and integrating AVGC skills into the National Education Policy.
Collaborations and co-productions with international partners are seen as vital pathways to achieving a global footprint for Indian studios. The need for virtual production infrastructure and AI tools that can streamline workflows and reduce production costs to make Indian studios more competitive on the global stage was highlighted.
The key highlight of the summit was the unveiling of the knowledge report, "FX & Beyond: Shaping India's AVGC Landscape", developed in collaboration with Grant Thornton Bharat. This report contains insights on the growth, opportunities, challenges, and strategic recommendations for the AVGC industry in India.
The summit concluded with a call to action for all stakeholders-government, industry, and academia-to work together in building a sustainable future for India's AVGC sector. Indian content creators are encouraged to adopt a more offensive global strategy, focusing on developing content that resonates with international audiences. The focus is on developing skills that foster creative thinking and align with industry needs, ensuring that Indian talent is prepared to lead in the global AVGC landscape.
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