By Sonu Shrivastava

Copyright deccanchronicle

Mumbai: In a bid to transform Maharashtra into a global hub for digital content and immersive technologies, the state government on Tuesday approved the Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR) Policy 2025.The policy, cleared during a Cabinet meeting chaired by Chief Minister Devendra Fadnavis, is expected to attract Rs 50,000 crore in investments across the AVGC-XR value chain and generate five lakh new jobs — including two lakh direct and three lakh indirect employment opportunities — over the next five years. The initiative is aimed at making Mumbai a premier destination for entertainment and tourism, while strengthening Maharashtra’s position in the rapidly growing national and global AVGC-XR sector, an official said. According to the state’s industries department, the current annual turnover of Maharashtra’s AVGC-XR sector stands at Rs 25,000 crore, with a target to increase this to Rs 65,000 crore within five years. The department is aiming for an annual growth rate of 25 per cent. “The policy will be rolled out within the next 30 days and will remain in effect until 2030,” said a senior official. India currently holds less than 2.1 per cent of the global AVGC-XR market. “”But India’s M&E market is projected to grow from USD 27 billion dollars in 2024 to over USD 100 billion by 2030. Maharashtra hosts over 295 AVGC-XR studios, accounting for more than 30 per cent of India’s total AVGC-XR studios. The state is emerging as a national hub for AVGC-XR innovation, investment and talent development,” the senior official said. The official further added that the government aims to increase the state’s national share in the sector from 20 to 25 per cent. “This policy is a step towards building a globally competitive creative economy. It focuses on skilling, upskilling, and fostering entrepreneurship,” he said. To support this growth, the government has planned to establish AVGC-XR parks in Navi Mumbai, Pune, Nashik, Chhatrapati Sambhaji Nagar, Satara, and Kolhapur, creating regional hubs for talent and innovation. According to the industries department, a dedicated WAVES (World Audio Visual and Entertainment Summit) participation fund of Rs 200 crore will also be established under the AVGC-XR policy. A dedicated AVGC-XR Fund of Rs 300 crore will also be set up under the policy to support startups established by local entrepreneurs working in the AVGC-XR sector. Officials estimate the policy could contribute Rs 25,712 crore to the state economy over the next 20 years, beyond the immediate five-year growth targets.