Rajasthan is making great strides toward becoming a global centre for the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) industries with its recently enacted Policy. The state plans to invest $121 million, or about ₹ $1000 Crore, in cutting-edge AR/VR labs and skill-development initiatives to boost the number of AVGC-XR startups from 600 to 3,000 by 2030.
Key Highlights of AVGC-XR Policy
The main objective of the AVGC-XR policy is to establish a comprehensive ecosystem that promotes innovation, entrepreneurship, and skill development in the AVGC-XR sector. This is in line with Rajasthan’s goal of fostering its creative economy by fusing state-of-the-art technology with its rich cultural legacy.
The Rajasthan government has set aside INR 1,000 crore to build subsidized coworking spaces and advanced AR/VR labs. This infrastructure will provide startups access to cutting-edge resources and tools necessary for innovation.
The Policy is expected to create over 50,000 jobs by 2030, greatly enhancing employment prospects in the area and benefiting local youth.
The government plans to set up Atal Innovation Studios and Accelerators in major towns like Jaipur, Udaipur, Bikaner, and Bharatpur. These facilities will offer networking opportunities, resources, and mentorship to aspiring business owners in the AVGC-XR space.
The Policy calls for partnerships with academic institutions to offer extensive skill development programs, which would create a workforce with the necessary skills to satisfy industry demands.
Future Ahead in AVGC-XR Market
India’s AVGC-XR market, which is projected to increase from $3 billion to over $26 billion by 2030, which is possible due to Rajasthan’s significant share. Only 1% of the global market is currently held by India, which intends to raise that percentage to 5% by 2025. Rajasthan has a significant impact on this change.
All things considered, Rajasthan’s bold AVGC-XR policy is a well-thought-out attempt to establish the state as a major force in India’s digital economy.
