NEW DELHI: The Ministry of Information and Broadcasting (I&B) on Friday signed an MoU with the Maharashtra government and the Maharashtra Film, Stage & Cultural Development Corporation Ltd. (MFSCDCL) to establish the Indian Institute of Creative Technologies (IICT) in Mumbai—a world-class institute dedicated to Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR).
Speaking on the occasion, Maharashtra Chief Minister Devendra Fadnavis said that the first-of-its-kind institute would focus on nurturing talent and innovation in creative industries.
The MoU was signed by Chief Secretary of Maharashtra Sujata Saunik and Secretary of Information and Broadcasting Ministry Sanjay Jaju. The exchange took place in the presence of Fadnavis and I&B minister Ashwini Vaishnaw.
IICT will be located at the Dadasaheb Phalke Film City, Goregaon, and will serve as a centre of excellence for education, research, innovation, and skill development in the AVGC-XR domain recognizing the importance of fostering the growth and development of this sector in the country and envisioning India to become one of the top global players in this field.
Vaishnaw said that IICT would serve as a catalyst for the city's entertainment industry, facilitating its global expansion.
The IICT has already been set up as a not-for-profit Section eight company with equity participation from the Central Government (48 percent), Maharashtra government (through MFSCDCL) (14 percent), and leading industry bodies – Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industry (CII), holding 26 percent each.
The Centre has already provided an initial one-time budgetary grant of Rs 391.15 crore for infrastructure development and initial operations. The IICT will operate in a self-sustaining mode thereafter. The institute will also benefit from a 10-acre land parcel leased by MFSCDCL for 30 years at Dadasaheb Phalke Film City, symbolizing a significant step forward in building a digital media and creative technology ecosystem.
The MoU marks a significant milestone under the Government’s efforts to boost the digital economy, empower creative professionals, and generate high-value employment in emerging sectors, said officials.