Indian Institute of Creative Technologies to be set up in Mumbai

NEW DELHI : India's first dedicated institute for creating a talent pool to cater to the emerging animation, visual effects and gaming sector will be established in Mumbai, the epicentre of the country's entertainment industry. The Centre has approved Rs 391.15 crore as on-time support to set up the Indian Institute of Creative Technologies (IICT) which will be a National Centre of Excellence, on the lines of the IIT, but dedicated to the Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR) sector, Information and Broadcasting Minister Ashwini Vaishnaw said.

India is home to more than 4,000 studios and over 100 of them develop high quality AVGC-XR content for full-length feature films, including for Hollywood and Bollywood production houses. " IICT will not be just an educational institution but a leading centre, driving innovation in the creative technology industry," Maharashtra Chief Minster Devendra Fadnavis said here, announcing that the institute will be established at the Dadasaheb Phalke Chitranagari (Film City), Goregaon in Mumbai Fadnavis made the announcement during an interaction with envoys of foreign nations on Thursday as part of the global outreach efforts for the World Audio Visual and Entertainment Summit (WAVES) to be held in Mumbai from May 1-4.

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The IICT has been incorporated as a Section 8 Company under the Companies Act with Federation of Indian Chambers of Commerce & Industry and Confederation of Indian Industry representing the industry bodies as partners having 52 per cent share. The Central government has 34 per cent share and Maharashtra has 14 per cent share. The focus of the IICT will be on creating Indian intellectual property leveraging India's cultural heritage in the new age. An industry-led initiative, in partnership with state and academia, the institute is expected to have an integrated focus on education, skilling industry, development, and innovation. The IICT at Mumbai will be the hub institute with several regional centres planned in the future.