Mumbai : The Union Ministry of Information & Broadcasting recently signed a Memorandum of Understanding (MoU) with the Government of Maharashtra, Maharashtra Film, Stage & Cultural Development Corporation Ltd. (MFSCDCL) for the establishment of the Indian Institute of Creative Technologies (IICT), a world-class institute dedicated to the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector in the city.
The MoU was signed between Ms. Sujata Saunik, Chief Secretary of Government of Maharashtra and Sh. Sanjay Jaju, Secretary, Information and Broadcasting Ministry.
CM Fadnavis stated that Indian Institute of Creative Technology (IICT) in Mumbai — a first-of-its-kind institute will focus on nurturing talent and innovation in creative industries.
Union Minister Shri Vaishnaw stated that the first such institute, if established in Mumbai—the capital of the creative economy and entertainment sector—will serve as a catalyst for the city’s entertainment industry, facilitating its global expansion.
Located at the Dadasaheb Phalke Film City, Goregaon, IICT shall serve as a centre of excellence for education, research, innovation, and skill development in the AVGC-XR domain recognizing the importance of fostering the growth and development of this sector in the country and envisioning India to become one of the top global players in this field.
The key highlights of the MoU includes a) Establishment of an AVGC-XR centre with a strategic focus on education, skilling, industry development, and research & innovation; b) Formation of a Governing Council and Board of Directors with representatives from Government and Industry; c) Development of specialized councils on Academia, Skilling, Industry Development, and R&D to ensure sectoral alignment and global competitiveness. and d) Commitment to fostering public-private collaboration and attracting international partnerships.
The IICT has been established as a not-for-profit Section 8 company, with a total government equity participation of 48% — comprising 34% from the Government of India and 14% from the Government of Maharashtra (through MFSCDCL). The remaining 52% is held by leading industry bodies, with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industry (CII) each holding 26%.
Government of India has already provided an initial one-time budgetary grant of ₹391.15 crore for infrastructure development and initial operations. The IICT shall operate in a self-sustaining mode thereafter. The institute shall also benefit from a 10-acre land parcel leased by MFSCDCL for 30 years at Dadasaheb Phalke Film City, symbolizing a significant step forward in building a digital media and creative technology ecosystem.
The agreement was exchanged in the presence of the Chief Minister of Maharashtra Sh. Devendra Fadnavis and Union Minister for Information and Broadcasting Sh. Ashwini Vaishnaw.
