The Government of Kerala on January 19, 2024, issued the Creative Economy AVGC-XR Policy 2024.
The following has been stated: -
• The AVGC-XR sector is undergoing rapid evolution in the country, emerging as a pivotal component across various industries such as entertainment, education, and tourism.
•This policy endeavours to present a comprehensive overview of the current status of the AVGC-XR sector in Kerala, delineating its potential benefits, challenges, and recommendations aimed at fostering its development within the state.
•Kerala will develop an incentive structure for promoting the use of renewable energy in the AVGC-XR sector to reduce the sector’s Green House Gas emissions. Industry Policy prevailing at the time will serve as the model.
•AVGC-XR Company has a stake of more than % shareholding of women entrepreneurs in the company/unit.
•To promote the AVGC-XR ecosystem, it is proposed to set up an AVGC-XR Catalyst Fund of INR 200 Cr for 5 years. The government of India, the Government of Kerala, Banks, PE Funds, HNIs, etc. will be Partners with the fund 30 percent of the fund will be utilised as a Seed Fund and 70 percent as a Scale-up fund.
The detailed policy is given in the document below.
