The Union Cabinet has approved the establishment of the National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai. Modeled after premier institutions like IITs and IIMs, the NCoE aims to position India as a global hub for cutting-edge content creation. Set up as a Section 8 Company under the Companies Act, 2013, the project will involve partnerships with industry bodies FICCI and CII, with the government holding a minority share. The NCoE will provide specialized training, foster research and development, and serve as an incubation hub for startups. It seeks to enhance India's soft power, attract foreign investments, and leverage the country's cultural heritage for both domestic and global markets. The initiative is expected to create significant employment opportunities and keep pace with the rapidly growing global demand for AVGC-XR technologies.