Flagging off global partnerships for the upcoming Indian Institute of Creative Technology (IICT), Information and Broadcasting Minister Ashwini Vaishnaw has said that the IICT will create the same template in the field of entertainment, media, and films, much like the IITs and IIMs have done in the field of science and management.  

"In the last two days, India has taken a novel step in the film, media, and entertainment sector. India can take global leadership in entertainment, media, and films, with the kind of talent we have. We have a billion-plus talent, a five-thousand-year-old civilization, and millions of stories to tell," Vaishnaw said at a press briefing following the successful conclusion of the World Audio Visual and Entertainment Summit (WAVES) 2025.  

"So, the steps we have taken here are the first steps, and now we need to build upon them.  I thank all the industry participants. I wish IICT would be such a major institution in the coming days that it will set the same template as the IIT system and the IIM system. I look forward to more and more input from the industry participants. We are a very open-minded government, under the leadership of Prime Minister Narendra Modi," Vaishnaw added.  

The I&B Ministry, in collaboration with FICCI and CII, has unveiled the Indian Institute of Creative Technology (IICT)—a national centre of excellence dedicated exclusively to the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector. Some companies that have extended their hands for long-term collaborations are JioStar, Adobe, Google and its streaming platform YouTube, Meta, Wacom, Microsoft, and Nvidia. India is currently home to more than 40 million creators.

The IICT will be located at the Dadasaheb Phalke Film City, Goregaon, Mumbai, and shall serve as a centre of excellence for education, research, innovation, and skill development in the AVGC-XR domain recognising the importance of fostering the growth and development of this sector in the country and envisioning India to become one of the top global players in this field.

In September last year, in a major move to give the AVCG-XR sector a fillip towards making India a global hub for AVGC, the Union Cabinet had approved the establishment of a National Centre of Excellence (NCoE) for AVGC-XR in Mumbai.

India’s animation sector is witnessing remarkable growth, driven by increasing demand for films, visual effects (VFX), gaming animation, and engaging mobile content. This industry is growing at a rate of 25% and is estimated to have a value of ₹46 billion by 2023, according to a FICCI-EY report.