To boost the country’s creative economy, Indian Institute of Creative Technologies (IICT) was incorporated in December 2024 in Mumbai, Maharashtra. This new company is slated to set up a Centre of Excellence (CoE) for the AVGC-XR segments.
Patterned along the lines of the Indian Institutes of Technologies (IIT), IICT will be focused on video and the visual arts, with higher education relating to animation, comics, VFX, gaming, XR and generative AI.
IICT has been set up as a section 8 company under the Companies Act. This section allows the company to be converted into a company of another class under this Act by alteration of memorandum and articles in accordance. IICT’s mailing address will be the same as the NFDC’s Mumbai address as it is being set up under the latter’s umbrella.
The central government is putting emphasis on promoting the Indian AVGC-XR sector globally and sees it as a major contributor to employment and revenue generation from the domestic market as well as through exports and co-productions.
The IICT is one of the means to hone world-class talent just like the IITs produce the best engineers. It is planned to develop under a public-private partnership going forward.
