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Hyderabad emerged as biggest destination for gaming sector: KTR
KTR
Says IMAGE Tower will be opened by March 2023; inaugurates IndiaJoy event
Hyderabad: With more digital entertainment companies entering Hyderabad to establish their offices, the city has emerged as one of the biggest gaming destinations in the country. Gaming ecosystem will continue to expand in the State, said Telangana IT Minister KT Rama Rao during his inaugural address at the 4th edition of IndiaJoy on Tuesday.
The annual event is hosted by Telangana Virtual Animation and Gaming Association (TVAGA) and supported by the State government. On the occasion, Bengaluru-based online gaming platform Mobile Premier League (MPL) signed an MoU with Telangana government to set up a 500-seater office in Hyderabad. This will be their one of the largest offices in India.
Telangana is the major outsourcing State in IMAGE (Innovation in Multimedia, Animation, Gaming and Entertainment) sector with 20 academies and 30,000 resources. The State government is incentivising digital entertainment players to attract MNCs. As many as 10 new visual effects (VFX) companies and 80 gaming firms have come to Hyderabad in last two years.
IMAGE Tower, being developed by the Telangana government to boost animation, gaming and visual effects sector, would be ready by the first quarter of 2023, the minister said adding that the construction of 1.6 million-sq ft facility was delayed due to the pandemic. It will be the new signature landmark of city landscape.
He further said, "India's IMAGE sector has seen tremendous growth to 900 million users during the last year. It is estimated to achieve 13.5 per cent rise in revenues to Rs 3 lakh crore (approximately $44 billion) by 2024. Hyderabad has always been the epicentre of growth in this sector and Telangana government has played a key role in promoting this ecosystem."
Claiming to be a big fan of OTT (over-the-top) platforms, KTR says: "The resurgence in OTT has created unlimited possibilities. Telangana government will continue unabated support to the new digital entertainment revolution that requires a State to promote the use, adoption, and adaptation of cutting-edge technologies."
