VARIETY [1] reports that the Indian government will form the National Center of Excellence in Animation, Gaming and Visual Effects in Mumbai, announced by Ambika Soni, the minister of information and broadcasting. The government will invest 520 million Rupees ($11.4 million) into the venture.
Additionally, she announced the creation of the National Heritage Mission with the goal of preserving Indian cinema. The Mission will open in 2013 in Mumbai. The investment is $145.1 million.
Links:
[1] http://www.variety.com/article/VR1118016669.html?categoryid=13&cs=1&nid=2562