The genesis of NCoE may be traced back to 12th Plan Scheme and the Hon’ble Finance Minister in her budget announcement during FY 2014-15 said “a National Centre of Excellence (NCoE) in Animation, Gaming and Special Effects will be set up”. The objective is to create world-class talent pool in India to cater to the Indian as well as global industry, to set-up an incubation centre for the AVGC-XR sector and to provide opportunities for small players to grow. It is supposed to offer UG, PG, level courses and short term courses in different disciplines of AVGC-XR sector at affordable cost and promote research in the AVGC-XR sector by offering research-intensive programmes. NCoE as envisioned by the Ministry would be an independent, industry-led institution which not only would provide employment to the youth, but also respond to the skilling requirements of the industry.
The NCoE has been formally named the Indian Institute of Creative Technologies (IICT) and registered as a Section 8 Company under the Companies Act, 2013 with a onetime budgetary support of Rs. 391.15 crore. The company was incorporated on 25.12.2024, with a shareholding structure of 48% by the Government of India, and 26% each by FICCI and CII, who represent the collective interests of the AVGC-XR industry. The IICT will operate on a 10-acre plot at Dada Saheb Phalke Film City, Goregaon, Mumbai, for which a lease deed was signed between the Ministry of Information & Broadcasting and the Government of Maharashtra on 08.10.2024.
