NDTV.com: Indian animation firms in high demand

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Updated: November 21, 2009 22:34 IST

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Indian animation firms in high demand

Minakshi Shekar

Friday, November 14, 2008, (Hyderabad)

The economy may be roughing it out. But the animation sector seems to be riding the high seas with India's back office providing foreign production houses cheap labour and time-bound delivery.

"We are growing in the outsourcing business. Countries from Europe and North America want to cut costs of production and be more efficient since the consumption is going to go up. India is going to be a favourite destination for this," said A B R P Reddy, CEO, Picasso Animation.

The animation industry seems to be bucking the slowdown trend with some production houses executing multiple co-productions at the moment. But some companies do admit that the effect of the slowdown on the industry might be felt after six months.

So, despite the liquidity crunch, the animation industry is fast branching out from being just a back office to creating original intellectual properties.

The Indian animation industry is pegged at 460 million dollars this year and is expected to grow at the rate of 27 per cent every year till 2012. In fact Indian companies are busy executing projects worth 85-100 million dollars to be delivered over the next year.

"Entertainment and food industry won't be affected. Some people will press the panic button and you'll see shows going off air; they will cut down budgets but it's temporary and will last only two-six months," said Rajiv Chilakalapudi, CEO, Greengold Animation.

Experts say the time is right for investment in this sector. Now who would challenge that piece of advice considering that animation films are one of the best ways to beat the stress.

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