Dr. D. Y. Patil School of Design


Union Budget 2022 - Golden Days for AVGC

Union Budget 2022 - Golden Days for AVGC

Explore the impact of Union Budget 2022 on Animation, VFX, Gaming, and Comics (AVGC) industry in this blog from Dr. D. Y. Patil School of Design, Pune.

Dr. Siddhant Vasantrao Wadmare
February, 25 2023
823

AVGC stands for Animation, Visual Effects, Gaming & Comics.

The gaming industry is a subfield of the media and entertainment sector that is expanding at the fastest rate.

Additionally, it is one of the few industries with numerous employment opportunities & providing a significant number of opportunities to the nation's youth.

Union Budget 2022 AVGC

Our honourable Prime Minister, Shri Narendra Modi, made the announcement at an event called "Aatmanirbhar Arthvyavastha" that the Union Budget for 2022 intends to "make a four-fold increase in public investments as compared to those in the UPA regime and that the measure will open up immense opportunities."

He also said that the union budget was "people-friendly" and "progressive" after the event.

Roland Landers, CEO of the All India Gaming Federation (AIGF), stated that the strategies and plans proposed for the gaming industry are very encouraging.

Additionally, he stated, "AIGF is looking forward because the task force will give a major boost to the game development sector and also give the gaming industry momentum and power."

Because they will be playing a significant consultative role, the domain experts from AIGF and the skill games will be of assistance.

He also said that the four-year extension of the tax will help the over 300 companies that make up the start-up ecosystem.

The gaming industry is becoming one of the most powerful sectors because of these implementations.

Manpower is still the industry's biggest constraint. The gaming industry is expected to create between 60,000 and 80,000 new jobs by 2025, according to industry experts, and the gaming sector has been attracting investments, as reported by Deccan Herald.

The gaming industry is becoming more attractive to job seekers.

The gaming industry has a lot of potential to provide a lot of jobs for young people who are very concerned about their careers.

Ministry of Information & Broadcasting

Under the direction and support of AICTE, this AVGC promotion task force may cause the creation of between 50,000 and 85,000 jobs and employability.

As a result, a variety of courses geared toward the workplace will greatly enhance employability.

However, technology is also developing at a rate that is faster than sound.

New age skills like NFT, augmented reality, virtual reality, and aspirants who are interested in joining this industry in light of evolving technology should also embrace the metaverse.

The head of Team Lease Digital's business, Gautam Vora, says that 3D animation, testers, virtual reality (VX), game design, and game development will have a lot of potential.

Indian Animation Films

"The task force of the sector will assist the young aspirants to choose the gaming industry as a career option, which will automatically generate jobs and consecutively will put a tick on the economic growth as well," stated Akshay Bharadwaj, Zynga's vice president and general manager.

B.S. Srinivas, on the other hand, stated, "The central government's decision to support this sector by setting up a task force for growth is a warm welcome move that will herald the dawn of sunrise sector to reach immense heights in the coming years."

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