Nasscom sees climb in animation profits

Wednesday, 12 January 2005, 20:30 IST
Printer Print Email Email
HYDERABAD : The revenues of India's animation production service sector would continue to grow at over 20 percent during 2005, a Nasscom report said Wednesday. The report, released at a three-day Nasscom conference on 'Animation India 2005' that began here Wednesday, said total revenues of the sector were estimated to be between $200 million and $300 million in 2004. The sector is estimated to have grown at a rate of over 20 percent during the year. Addressing the conference, Nasscom president Kiran Karnik identified manpower shortage, non-availability of funding and marketing as main constraints for the sector's growth in India. "India can be a major player if trained manpower and funding are available and if it establishes itself in the world market as an animation base," he said. He told the media that the growth in the sector had been slow in the beginning but has picked up in the last couple of years. On the participation of a South Korean delegation in the conference, he said this was proof that India was being recognised as an important player in the sector. Karnik wanted the government to initiate certain measures to kick-start the animation industry. "The domestic potential in the sector is small. The government needs to take certain initiatives like setting aside a part of television programmes for animation," he said. He welcomed Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy's announcement that an animation academy was being planned in Hyderabad. In his inaugural address, Reddy invited foreign players to set up operations in the state, assuring them of governmental support. The size of opportunity for Indian players in the global market alone is estimated at $50 million in 2005. Industry sources say Indian animation studios bagged contracts for about 11 new television series projects in 2004. In mid-2004, at least nine animated television serials aimed at the US and European markets were in production at various Indian studios.
Source: IANS