Prime Minister Narendra Modi has allocated Rs 400 crore for the establishment of IICT. The Maharashtra government has provided ten acres of land at Mumbai Film City for the institute’s permanent campus. However, the project will initially commence from a state government facility at Bandra-Kurla Complex (BKC), Mumbai.“This is a major leap towards empowering India’s AVGC-XR ecosystem,” said the Union Minister, emphasizing that India has the potential to become a global leader in media and entertainment. He added that IICT is poised to become a premier institution in its field, just as IITs and IIMs have become benchmarks in technology and management education.The minister noted that IICT would follow the same framework as IITs and IIMs to evolve into a world-class hub for education and training in the AVGC-XR sector.“We’ve initiated something truly novel in the global film and entertainment space, aligned with the Prime Minister’s vision that India can take the global lead in media and entertainment,” he stated.The minister also thanked the industry partners and their leadership teams for expressing their willingness to collaborate. “They will help build this institution and support its long-term growth. I hope IICT grows into a major educational infrastructure for the AVGC-XR sector,” he added.The announcement event was attended by members of the IICT Board and Governing Council, including Ashish Kulkarni, Biren Ghosh, Manvendra Shukul, Munjal Shroff, Chaitanya Chinchlikar, and Subhash Sapru. The executive team includes Dr. Vishwas Deoskar (CEO), Ninad Raikar (COO), and Shweta Verma (Marketing Lead).During the session, IICT representatives and industry partners exchanged Letters of Intent (LoIs), marking the formal launch of collaborative efforts to advance the AVGC-XR ecosystem in India.The institute will feature state-of-the-art infrastructure, including virtual production setups, immersive studios, animation and gaming labs, editing and sound suites, and smart classrooms. The second phase will be developed over a 10-acre campus at Film City in Goregaon. To ensure decentralised access, the government also plans to establish regional centres across India in subsequent phases.IICT will focus on training, incubation, innovation, research and development, as well as policy-making—creating extensive opportunities for aspiring creators, professionals, and entrepreneurs in the creative technology space.
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