Union Budget 2022: AVGC Taskforce to Boost Gaming Industry
The gaming industry has the fastest-growing segment under the subcategory of the media and entertainment sector. And it is also one of the few industries which has a huge amount of possibilities for job generation. Along with that, it is also giving an immense amount of opportunity to the youth of the country as well. In an event named “Aatmanirbhar Arthvyavastha,”
P.M Narendra Modi announced that the Union Budget of this year proposes “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”. After that event, he also described the Union budget 2022 as “People friendly” and “progressive”.
“An AVGC promotion taskforce with all the stakeholders will be set up to recommend ways to realize this and build domestic capacity for serving our markets and the global demand,” said Sitharaman.
The huge potential of the AVGC Industry, Finance minister Nirmala Sitaraman announced that a promotional task force with all stakeholders will be set up which will help in building a domestic capacity .
It will serve the Indian markets and along with that it will also meet the global demands.
The industry experts are quite happy with the decision as they are of the opinion that the taskforce will assist to expand and prosper the workforce of the young and employable aspirants who wants to join the industry as a part of AVGC professionals.
The experts have welcomed the decision. They are predicting that in the coming years this decision will help to transform India into a global player. As the task force will issue the long-term policy which will boost the vibrant ecosystem in animation and gaming.
The chief financial officer of Games24x7, Mr. Rahul Tiwari said “India has a great possibility as it is a very high-quality talent pool of creative and aesthetic artists who can help to transform India into a global player”. He is really hopeful as it can van bring clarity in the sector. He has also said that in the last few years this sector has immensely contributed to India’s success for start-ups.
Union Budget 2022: All India Gaming Federation (AIGF)
According to the CEO of The All India Gaming Federation (AIGF), Roland Landers “The plans and the schemes which is propose for the gaming sector are really encouraging”.
He stated “AIGF is looking forward as the task force will give a major turbocharge to the game development sector and it will also give momentum and power to the gaming industry”.
Domain experts of AIGF and Skill Games will assist as they will be playing an important consultative role. He also stated four years of extension of the tax will give a boost to the entire start-up ecosystem.
With all these implementations the gaming industry is becoming one of the most powerful sectors. The constrain of this industry still lies in manpower. As per Deccan Herald, the gaming segment has been attracting huge investments. Industry experts suggest, the industry will also generate 60,000 to 80,000 new jobs by the year 2025. The gaming sector is transforming into a magnetic sector for job seekers.
The gaming industry has a high potential in generating a huge amount of jobs for the youth .
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This promotional taskforce of AVGC can lead to job generation . And the employability which will be between 50,000 to 85,000 in the coming years under the support of AICTE. So there are various job-oriented courses that assist in the employability to a great extent. On the other hand, technology is also evolving faster than the speed of sound. People who are willing to join this industry should also embrace the new-age skills like NFT, AR, VR, and metaverse.
According to Gautam Vora, business head of TeamLease Digital, “There will be huge opportunities in 3D animation, testers, game design, and game development”.
The vice president of Zynga, Akshay Bharadwaj said that “The taskforce will assist the young aspirants to choose the gaming industry as a career option“.
That will automatically generate jobs and consecutively will put a tick on the economic growth as well.”
B.S. Srinivas, “The central government’s decision to support this sector by setting up a task force for the growth is a warm welcome move which will herald the dawn of sunrise sector to reach immense heights in the coming years”.