Tamil Nadu is set to release a new state policy to nurture and grow its Animation, Visual Effects, Gaming and Comic (AVGC) sector.

"We need to tap new and disruptive areas like AVGC to achieve our goal of a $1 trillion economy by 2030. The Information Technology (IT) department through ELCOT is engaging with the AVGC industry players to get inputs on the policy. We have a draft ready, and in 1-2 months we will put forward the final policy in front of the CM for his approval," state IT minister Palanivel Thiagarajan said on Friday.

The minister was speaking to the media on the sidelines of a consultative meeting with the AVGC industry. He noted that Tamil Nadu as a state has close linkages with the media, entertainment and animation world.

"We will help the entrepreneurs and companies with incentives and infrastructure through the policy; but meanwhile we also urge them to use our existing ELCOT IT infrastructure," he added.

Industry estimates suggest that globally the AVGC industry is around $400-500 billion with India holding just around 1% of the market size, and with potential to scale. Tamil Nadu with its engineering talent base and a traditionally strong movies and entertainment industry is well poised to lead the space, industry players at the meeting said.

The stakeholders urged the government to address challenges around availability of quality talent and the need for a separate AVGC tech park along the lines of Tidel Park.

Commenting on the upcoming Global Investors Meet, Thiagarajan said that thanks to a "China plus" strategy, the world's attention is on India today.

"In my view, there is no need for states to compete with one another; we all are set to grow in the next 10 years," he said.

Thiagarajan also noted that the IT sector will play a key role in the upcoming GIM.

"The IT sector has a responsibility to bring in high value job creation at scale and we will do so," he added.

Media: The Times of India