The Indian Institute of Creative Technology (IICT) is set to become a premier institution for the media and entertainment sector, drawing parallels with the prestigious Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs). A Memorandum of Understanding (MoU) has been signed between the Ministry of Information & Broadcasting, Government of India, and the Government of Maharashtra to establish IICT in Mumbai, marking a significant milestone in elevating India's creative industries globally.
The institute will be located at Goregaon's Film City in Mumbai, with a financial allocation of ₹400 crore from the central government.Mumbai's position as the hub of India's entertainment sector is a benefit of this advantageous location.
IICT will specialise in advanced creative technologies, including animation, visual effects (VFX), digital content, Web 3.0, AI-driven storytelling, and media innovations.The institute wants to use India's rich cultural legacy to develop Indian intellectual property.
IICT is an industry-led initiative, with partnerships between state governments, academia, and industry bodies like the Federation of Indian Chambers of Commerce & Industry (FICCI) and the Confederation of Indian Industry (CII). This partnership guarantees a comprehensive approach to innovation, industry development, skilling, and education.
The establishment of IICT marks a significant step forward for India's creative industries, positioning the country as a major player in global media and entertainment. When IICT becomes operational, it is expected to drive innovation, foster talent, and contribute to India's economic growth.