FICCI Suggests Tax Holiday, Fiscal Incentives To Promote Animation, Gaming

The Economic Times: FICCI Animation and Gaming Forum has suggested a variety of measures to make the Indian animation, gaming and VFX industry globally competitive. In a memorandum submitted to the information and broadcasting ministry, FICCI has suggested a tax holiday for 10 years, removal of service tax, market development assistance from the government, and localisation of animation content.
Besides, FICCI has also proposed a 10% mandatory local content on the networks to begin with to be increased to 30% over the next three years as more indigenous animation content gets developed, said Sumeet Gupta, senior assistant director, FICCI. It has also proposed setting up centres of excellence on the lines of IITs and IIMs for the animation and gaming industry.
Speaking at a seminar on ‘Animation, Gaming and Visual Effects’, DK Chakraborty, principal secretary, dept of information and cultural affairs, government of West Bengal, said there is a need for setting up an animation studio in the state. This can be developed as a hub for animation, he said.

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