VFX, gaming to attract Rs 250 crore in Telangana

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After conjuring up investments across segments recently, Telangana is all set to get about Rs 250 crore investments in visual effects, animation, gaming and allied segments this year. This is a big win considering that the media and entertainment segments have been badly hit due to the Covid and are now coming back to normalcy.
“Hyderabad is becoming the hub of animation, VFX and e-sports. Deals worth more than $ 30 million are being talked about at the ongoing industry event IndiaJoy,” said Rajiv Chilaka, President of industry body Telangana VFX, Animation and Gaming Association (TVAGA) and Founder and CEO of Hyderabad-based Green Gold Animations.

According to him, the industry now employs about 10,000 people in Hyderabad. Many companies after successfully dealing with the Covid situation are now back to hiring and are likely to hire about 20 per cent of this. “The companies are hiring as the orders are coming back,” he said.

Cinemas, OTT, and the creator economy are the key demand drivers. The 20 per cent growth this year apart, the industry will see growth of about 50 per cent in recruitment numbers from next year onwards as the Telangana State supported IMAGE Tower, an exclusive cluster of gaming, animation, special effects and allied fields, is expected to be ready next year.

The 1.6 million sq ft IMAGE Tower will give members access to common facilities and save costs. It will be an ecosystem enabler. It will have six studios including a large studio with a typical studio floor of 120 ft X 100 Ft. It will be 40 Ft high. It will also have motion capture as well as green matt studios. It will house a Digital Intermediate (DI) suite for colour grading, the final stage of video post-production.

Once this is ready, the existing players will expand and new ones, including many international companies, will come here as partners or will come to set up their network here. “IMAGE Tower will spur growth in VFX, animation, gaming and other segments. It will be the engine of growth,” Chilaka said.

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