The growth rate of the animation industry in India has been significant in recent years. According to a report by KPMG and FICCI, the animation industry in India is expected to grow at a CAGR (compound annual growth rate) of around 15% between 2016 and 2021, reaching a size of INR 135 billion (approximately $2 billion USD). This growth is being driven by the increasing demand for animated content both in the domestic market and internationally. The report also mentions the increasing adoption of digital technology and the rise of OTT platforms as major factors contributing to the growth of the animation industry in India.
The Indian animation industry is also benefiting from the government’s initiatives to promote the growth of the sector, such as tax incentives for animation studios, and the establishment of animation parks and incubation centres to support the development of new talent.
In addition to this, the Indian animation industry is also being driven by the popularity of animated content in the Indian market and the increasing demand for animation from the global market. India’s large pool of talented animators and artists, who have been trained at prestigious animation schools in India and abroad, is also contributing to the growth of the industry.
Overall, the animation industry in India is expected to continue to grow at a steady pace in the coming years, driven by the increasing demand for animated content and the ongoing advancements in technology.