HYDERABAD: Despite the slowdown due to the pandemic, Hyderabad has been successful in attracting multiple players in the
VFX
and
gaming
industry in the last two to three years,
Telangana IT and industries minister KT Rama Rao
said on Tuesday.
“In last three years, 10 new VFX production houses have been established in Hyderabad. City-based gaming companies have also made the best of the market opportunities during pandemic and 45 new companies have chosen Hyderabad as their destination in last two years taking the total count of gaming companies to 80 here,”
KTR said while delivering the keynote address at the four-day IndiaJoy 2021 event that kicked off in the city.
KTR pointed out that
Telangana is one of the major contributors of VFX outsourcing to Hollywood and regional film markets due to its comprehensive ecosystem. The city has 20 academies creating a world class talent pool in the industry and over 40 production houses employing close to 30,000, he added.
Rajiv Chilaka, mentor of Telangana VFX, Animation and Gaming Association, and founder & MD of Green Gold Studios, the maker of popular cartoon ‘Chhota Bheem’, said the last two years have been challenging for the gaming, animation and VFX industry. “While animation suffered a 20% decline in revenues, gaming took a hit of around 10%,” he said, adding that the period has been effectively used by the sector to invest in intellectual property and this is expected to reap rich dividends in future.
Biren Ghose, country head of Technicolor India and chairman of CII’s National AVGC sub-committee said the state government must focus on creation of infrastructure and skills to attract investments in the state and grow the overall ecosystem. KTR informed that the government is working towards setting up the IMAGE Tower and though its development had slowed down due to the pandemic, the construction of this 1.6 million sft facility is expected to be completed by the first quarter of 2023.