BENGALURU: The Karnataka cabinet on Thursday gave approval for the revised AVCG-XR (Animation, Visual Effects, Gaming, Comics, and Extended Reality) Policy 3.0 for the period 2024-2029, to foster growth of the AVGC-XR sector. Chief Minister Siddaramaiah, in his February 16 budget for 2024-25, has made an allocation of Rs 150 crore. The policy aims at leveraging Karnataka’s existing strengths in IT and BPM to establish the state as a leader in AVGC-XR, create a robust talent pool by transforming the state into a centre of excellence-related skills. It will also generate 30,000 new jobs by 2028, ensure that exports constitute at least 80 per cent of the sector’s total revenue, and foster sustainability and inclusivity within the AVGC industry. The policy will ensure skill development for a future-ready workforce, creation of sustainable infrastructure, empowering startups and MSMEs, provision for global market access and business development, incentives, concessions and financial support, and focus on ‘Mobile First’ AVGC products.

Source: Indian Express February 23, 2024 07:42 UTC