Finance Minister Nirmala Sitharaman, while presenting her ninth consecutive Union Budget, brought promising news for the AVGC-XR sector.
In the Union Budget for the financial year 2026-27, she termed the industry a part of the ‘Orange Economy’. Sitharaman highlighted that India’s AVGC-XR sector is projected to require nearly two million professionals by 2030.
During her speech, Sitharaman announced that the budget proposes support for the Indian Institute of Creative Technologies (IICT), Mumbai, to establish AVGC Content Creator Labs across 15,000 secondary schools and 500 colleges.
The budget also proposes establishing a new National Institute of Design in order to address shortages in the design sector, helping the country’s talent to keep pace with industry growth.
Animation Xpress will soon share insights and reactions from leading voices in the AVGC-XR ecosystem. Stay tuned for more updates.
