Urging the sector to start looking beyond boundaries, he said the country’s AVCG industry can expand in multiple dimensions due to India’s multilingual and multicultural society and the country must focus on making content that has a local flavour with an international appeal.
“Movies such as Star wars, Avengers, Matrix must serve as an inspiration for the next generation of AVGC industry of India. In the spirit of Local Goes Global, AVGC sector must look beyond boundaries to reach new horizons,” he said at the valedictory session of the second edition of CII SummitFX 2021 – Global AVGC & Immersive Media Summit.
The AVGC sector is growing at 9% and has huge potential as it is expected to reach $43.93 billion by 2024.
Goyal said that pre-production to post-production AVGC sector can bring cost competitiveness and efficiency at each touchpoint. Production cost in India is one-third to one-fourth of Western countries and 25% of the country’s South East Asian counterparts, he added.
Goyal said that in the spirit of ‘Local goes Global- Make in India for the World’, the AVGC sector in India must look beyond boundaries to reach new horizons and provide a cost-effective option to the world.