Maharashtra Government Approves Policy to Boost Digital Content Sector

Mumbai: On Tuesday, on Tuesday, on Tuesday to transform Maharashtra into a global center for digital content and immersive technologies, animated, visual effects, game, comic book and extended reality (AVGC-XR) approved 2025.

The policy, which was cleaned during a cabinet meeting chaired by Prime Minister Devendra Fadnavis, is expected to have 50,000 RS investment in investments during the next five years of AVGC-XR value chain and produce five new jobs, including two direct and three lache indirect employment opportunities.

The initiative aims to make Mumbai a leading place for entertainment and tourism while strengthening the position of Maharashtra in the rapidly growing national and global AVGC-XR industry.

According to the state industries department, Maharashtra’s current annual turnover of the AVGC-XR industry stands at 25,000 RS, which is the goal of raising it to 65,000 RS in five years. The department aims to grow 25 percent annually.

“Policy will be released within the next 30 days and will remain in force by 2030,” a senior official said.

India is currently less than 2.1 percent of the global AVGC-XR market. ”However, India’s market i & D market is expected to rise from US $ 27 billion to 2030 to $ 100 billion. Maharashtra is home to the 295 AVGC-XR studio and accounts for more than 30 percent of India’s total AVGC-XR studio. The state emerges as a national center for AVGC-XR innovation, investment and ability development. ”

The authority also added that the government aims to increase the state’s national share in the sector from 20 percent to 25 percent. “This policy is a step to create a global competitive creative economy.

To support this growth, the government planned to establish AVGC-XR parks in Navi Mumbai, Pune, Nashik, Chhahatrapati Sambhaji Nagar, Satara and Kolhapur and created regional centers for talent and innovation.

According to the Industries department, a special 200 RS waves (World Visual Visual and Entertainment Summit) Participation Fund will be established within the scope of AVGC-XR policy. According to the policy to support initiatives established by local entrepreneurs working in the AVGC-XR sector, a 300 RS AVGC-XR fund will be established. Authorities estimate that policy can contribute 25,712 RS to the state economy beyond its five -year growth targets in the next 20 years.