MUMBAI – The Maharashtra state cabinet on September 17, 2024, approved a complete policy designed to foster the growth of the animation, visual effects (VFX), gaming, comics, and extended reality (XR) industries within the state. The initiative aims to position Maharashtra as a leading hub for these rapidly expanding creative sectors.
The policy addresses key areas including infrastructure development, skill enhancement, financial incentives, and a streamlined regulatory environment. It seeks to attract investment, generate employment opportunities, and promote innovation across the media and entertainment landscape. The move impacts studios, developers, artists, and aspiring professionals in these fields, with the government anticipating significant economic benefits and a boost to Maharashtra’s creative economy.
Under the new framework,the state government will establish dedicated centers of excellence for skill development,offering specialized training programs in animation,VFX,gaming,and XR technologies. financial support will be provided to eligible companies through subsidies, tax breaks, and assistance with land acquisition.
The policy also focuses on simplifying the approval processes for setting up studios and production facilities, reducing bureaucratic hurdles and fostering a business-friendly climate. A key component involves promoting maharashtra as a preferred destination for domestic and international projects, leveraging the state’s existing infrastructure and talent pool.Officials stated the policy is expected to create over 50,000 jobs in the next five years and attract investments exceeding ₹5,000 crore. The government will form a task force comprising industry representatives and government officials to oversee the implementation of the policy and monitor its progress. the policy will remain in effect for five years, subject to review and potential amendments based on industry feedback and evolving market dynamics.