With global players like Walt Disney, Imax, Warner Bros signing contracts with Indian animation companies for outsourcing and co-production, it is expected that the animation industry in India can touch $950 million by 2009 and is expected to grow at a fast pace over the next five years.
However, outside the Industry there is scepticism about the pace of growth because of the challenges like piracy, lack of intellectual property (IP) protection rights, acute lack of resources and investments the Industry is facing.
In an interaction with Business Standard, KPMG Advisory Services (P) Ltd Director Jaiddep Ghosh said, “Although India is the largest media consuming market in the world, only 1 per cent of the US market size which is estimated at $10 billion, so far the animation is concerned, it is currently pegged at $600 million.”
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However, outside the Industry there is scepticism about the pace of growth because of the challenges like piracy, lack of intellectual property (IP) protection rights, acute lack of resources and investments the Industry is facing.
In an interaction with Business Standard, KPMG Advisory Services (P) Ltd Director Jaiddep Ghosh said, “Although India is the largest media consuming market in the world, only 1 per cent of the US market size which is estimated at $10 billion, so far the animation is concerned, it is currently pegged at $600 million.”
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