IndiaJoy 2021 inaugurated, Telangana bets big on e-sports, VFX, and OTT, Sign MoU with MPL

Telangana Minister for IT and Industries, K T Rama Rao inaugurated IndiaJoy 2021, Asia’s largest digital entertainment festival themed “Virtual is Reality” here on Tuesday.

The event is supported by Telangana Government, TVAGA, and presented by MPL got off to a great start with participation from technology leaders from several countries, including the leading industry voices.

The highlight of the event included an MoU signing between the Government of Telangana and the Mobile Premier League.

Under the MoU signed, the Government of Telangana will allot a dedicated 500 seat for Mobile Premier League in Image Towers with an understanding from MPL to share technology know-how and hire local talent.

The MoU was exchanged between Telangana Principal Secretary (I&C, IT) Mr Jayesh Ranjan and Mobile Premier League CEO and Co-founder Mr Sai Srinivas Kiran.
Speaking on the occasion, KT Rama Rao, said I was confident that this will become a signature event for the image industry and then build a strong reputation as an aggregator of different domain events that used to take place separately. Success has been our homegrown champion show to being whose Netflix debut has gone on to set multiple records within Rajiv and the theme of Green Bowl.

The Minister said Hyderabad based gaming companies have also made the best of the new market opportunities created during the pandemic. 45 companies have chosen Hyderabad as their destination in the gaming sector in the last two years making the total 80 betting companies.

A recent study has shown that India’s active Internet user base is expected to reach 900 million by 2025, a 45 per cent increase since last year. The image sector itself is growing at 9 per cent and is expected to achieve a growth of rupees three lakh crore or 44 billion US dollars.

He said by 2024, with a compounded annual growth rate of 13.5 percent this is staggering statistics with 900 million users, a growth of almost 13.5 percent very few sectors across the world achieve.

Telangana VFX, Animation and Gaming Association (TVAGA) President Rajiv Chilaka in his address said “The pandemic has given us an opportunity to create IndiaJoy 2021 and bring the tech community together on a wider, far impacting stage, with a click of a button.”

He said “IndiaJoy this year highlights ‘Virtual is a Reality”, and the foundation of this biggest digital entertainment festival – innovation, networking, collaboration – remains ever strong and robust.”

Rajiv said “2020 was tough for the industry including ours, while gaming animation, VFX suffered because shooting stopped. The industry witnessed a decline of 10 per cent.

But the good thing is that companies invested into R&D and IP and innovated the current business plans, which will yield great results in the future.” Rajiv Chilaka added. UNI