The Ministry of Information & Broadcasting (MIB), the Government of Maharashtra, and the Maharashtra Film, Stage & Cultural Development Corporation Ltd. (MFSCDCL) have partnered to establish the IICT in Mumbai. This institute will be a center of excellence for the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sectors.
The IICT will be located at Dadasaheb Phalke Film City in Goregaon, Mumbai, and initially operate from a temporary campus at the National Film Development Corporation (NFDC) premises. The Government of India has provided an initial grant of Rs 391.15 crore for infrastructure and operations. The institute is structured as a not-for-profit Section 8 company with equity participation from the Government of India (48%), the Government of Maharashtra (14%), FICCI (26%), and CII (26%).
The IICT aims to nurture talent, foster innovation, and serve as a global hub for education, research, and skill development in the AVGC-XR domain. It is envisioned to be a self-sustaining institution in the future, similar to IITs and IIMs in their respective fields. MFSCDCL has leased a 10-acre land parcel for 30 years to support the institute's long-term growth.