June 18, 2024

India’s visual effects industry is rapidly accelerating towards establishing itself as a global hub.

The film and television production landscape, along with the visual effects (VFX) industry, endured a nearly two-year hiatus due to the COVID-19 pandemic. This setback significantly impacted not only Hollywood and the UK, key players in the VFX domain, but also India, where VFX has rapidly become integral to gaming, cinema, and television.

Presently, the sector is experiencing a resurgence, and according to estimates from the Ministry of Information and Broadcasting, the current Rs 12,000 crore business is anticipated to grow by 30 percent over the next two years, as outlined in a report by BCG.

Beyond domestic filmmakers and TV production houses, international recognition is also being showered upon Indian visual effects designers. More than 100 VFX artists from India received notable credit in Paramount’s latest production, ‘Sonic Hedgehog 2,’ following their involvement in the movie’s first installment in 2020.

Payal Vijay Selvam, Head of Creative Operations at MPC VFX, highlighted the surge in talent and creativity in India, asserting the nation’s leadership role in the field. Over the past four years, not only has the volume of work outsourced to India increased, but the complexity of the delivered sequences has also risen.

Despite these strides, the Indian VFX and animation industry currently holds less than 10 percent of the global market share, according to a report by Boston Consulting Group. However, the same report suggests that India has the potential to scale up to 25 percent by the end of this decade.

Biren Ghose, Country Head of Technicolor Creative Studios, shared that the industry witnessed a remarkable 103 percent growth in 2021. The impact of the pandemic on live-action shoots last year was notable, but the report published in March 2022 anticipates the VFX and animation industry becoming a one trillion rupee industry over the next two years.

The growth is not only evident in major projects but also in the increasing number of individuals choosing a career in VFX. Arnab Sanyal, Head of Compositing at MPC VFX, noted that the average age of professionals in the industry is around 20-25, showcasing a passionate and unique talent pool not commonly found in other countries.

In the last two years, the Indian visual effects industry has generated 60,000 jobs, and with studios like MPC in Bengaluru actively hiring, an additional 1,20,000 jobs could be created in the coming years. However, the primary challenge lies in acquiring the right talent. Sargurunathan Sivalingam, Supervisor of Assets at MPC VFX, emphasized the need to increase the number of skilled artists to match the influx of VFX projects.

Recognizing the potential of the VFX segment, the government has established a dedicated task force in India. Projections indicate that, with concerted efforts in up-skilling and improved infrastructure, the industry could double its growth and reach a valuation of Rs 18,000 crore in the next two years. While demand is robust, addressing the shortage of skilled talent remains a critical challenge, underscoring the importance of collaborative efforts between the government and the industry to unlock the full potential of this burgeoning sector.

India’s visual effects industry is rapidly accelerating towards establishing itself as a global hub.

R2VFX STUDIO is hiring

India’s visual effects industry is rapidly accelerating towards establishing itself as a global hub.

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