The Rs 1,200 crore animation industry in India is set to grow to Rs 4,200 crore by 2009 with its revenues projected to double up to almost $1.5 billion by 2010.
"The Indian animation market is only one per cent of the global market of the $1,125 billion but growth is expected to be around 35 per cent in the next few years. India is fast emerging as a destination for outsourcing assignments from international studios like Walt Disney Pictures and Cartoon Network." Prime Focus, Vice-President, Aijaz Rashid said at 'MAAC SRIJAN 2008,' a seminar for students and professionals seeking a career in the animation industry.
"India will become the global headquarters of animation world. At present, India has a Ferrari by the way of technology, software and amenities. What we need now is a Michael Schumacher to help us win the race. We need the artist, imagination and content to help us to lead the industry," Rashid said.
Animation in India is currently riding on two key factors-a large base of highly skilled labour and low production cost," Rhythm & Hues, Manager, Subhojit Sarkar said.
India definitely has advantages over other players. In that there are little government regulations so the industry is free of complexities.
Potential exists and it must be borne in mind that training, big investments and providing original and compelling content will be critical to growth, he added.
Source : http://www.business-standard.com/
Sunday, July 27, 2008
Animation industry set to grow to Rs 4,200 cr
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