Karnataka: Government policy gears up for transformation in biotechnology and animation

The Karnataka government has released the draft biotechnology, and Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) policy, at the Bengaluru Tech Summit on November 30th.

Minister for IT/BT Priyank Kharge made an announcement pertaining to this on the microblogging platform X (formerly known as Twitter). “By unveiling the new AVGC Policy at the Bengaluru Tech Summit Karnataka will be taking big strides in the animation & gaming sectors. The India Gaming Market size is expected to grow from $3 billion in 2023 to $ 6.26 billion by 2028 and we are bracing well in terms of skills and incubations for this industry. India's animation & VFX industry was valued at around ₹107 billion in 2022 and is growing at a rapid rate & is reaching an estimated market value of ₹190 billion by 2025,” he stated. 

Some of the planned steps as part of the policy include creation of High-Tech Biotech Clusters (5 – 10 acres), building a green-field Bio Foundry in PPP mode, promoting Karnataka as a Global Clinical Trials Hub, developing a strong and skilled workforce by the beginning together the Institute of Bioinformatics (IBAB) and the Centre for Human Genetics (CHG) as a university of eminence at a global level by equipping it with advanced infrastructure and monetary aid.