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Indian Animation Industry to Reach $1.7 Billion by 2012

ST Team
Wednesday, November 3, 2010
ST Team
With over 150,000 skilled animators, Indian animation industry is currently a $1 billion industry but is expected to grow at a compounded annual rate of 30 percent and reach a market size of $1.7 billion by 2012 with over 450,000 skilled animators.

A study conducted by the Associated Chambers of Commerce and Industry (Assocham) shows that the domestic animation industry will undertake all its production activities within India instead of spending its funds in U.S., Canada, Malaysia and the Philippines for making advanced animated movies. According to the Associated Chamber of Commerce and Industry the industry in foreign countries are growing at a high rate because of the special policies and initiatives of the governments and they urged the government to help the industry by giving them adequate funding, guidance on manpower development and recognition of the animation courses. By recognizing animation courses, students and youths will conveniently get the bank loans which are missing at present, Assocham added.

Their study showed India would need more skilled professionals like creative animators, conceptualizer, visualizer, 3D modellers, character designer and digital effect artists to handle multimedia software like 3D studio Max, Maya and Tictactoon. The chamber also expressed concerns that the growth might be restricted due to the shortage of manpower and specialized training institutes, lack of government funding, hi-tech studios and tax incentives.

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