Nasscom, Indias premier information technology body, is betting big on the Indian animation industry, predicting the sector is all set to register an exponential growth in the coming years, according to the BUSINESS STANDARD in a report from its bureau in Bangalore, India.
Kiran Karnik, president of Nasscom, predicts that total animation production in India is expected to grow from $0.6 billion in 2001 to $1.5 billion by 2005. This compares with the size of the world animation industry, which has grown from a $25 billion in 2001 and expected to be between $50-$70 billion by 2005, BUSINESS STANDARD reports.
Addressing an e-Entertainment Alliance conference, Karnik said, Going by the nature of work that is coming to India, there is a huge potential to realize our estimates by 2005. However, unlike in Hollywood, which took nearly 25 years to utilize the benefits of the Silicon Valley, it is important that our entertainment industry goes hand-in-hand with the IT advantage that India already has in store.
The e-Entertainment Alliance is conducting various conferences across the Inida to bring together the world of IT and entertainment, leading up to Frames 2004, a global convention focusing on the business of entertainment. e-Entertainment is a joint alliance between Nasscom, TiE (The Indus Entrepreneurs) and FICCI.
Lack of adequate training in animation is a key concern, Karnik added. One has to remember that the IT success story was also mainly due to the high standards of education and training that exists in the country. Currently, there are nearly 10,000 people in the Indian animation industry. Going by the current trend, there is an immediate requirement for at least another 50,000 animators.
India must focus on ownership of IPR and not fall for the trap of a smaller return on investments, is the message from Nasscom. Karnik said he believes that co-production agreements are opening up in the Indian animation market. To be ready for these opportunities, animation companies need to improve its employees skills and gain expertise on writing for animation and storyboards.