India, Feb. 2 -- Union Finance Minister Nirmala Sitharaman on Sunday announced government support for the 'Orange Economy' (the creative economy) as part of the 2026 Union Budget. Sitharaman proposed to support the Indian Institute of Creative Technology (IICT), Mumbai to establish Animation, Visual Effects, Gaming and Comics (AVGC) content creator labs in 15,000 secondary schools and 500 colleges across the country. Sitharaman said the focus was on AI application and youth-driven growth: "This is a Yuva Shakti Budget." She also outlined measures aimed at boosting employment and meeting the aspirations of young Indians. Highlighting the scale of the opportunity, Sitharaman said India's AVGC sector is expanding rapidly and is projected to require nearly two million professionals by 2030. "I propose to support IICT Mumbai in setting up AVGC content creator labs in 15,000 secondary schools all over the country and 500 colleges," she said. Sitharaman also announced the formation of a high-powered standing committee on Education, Employment and Enterprises, which will recommend measures for the services sector. "This will make us a global leader in services with a 10% global share by 2047," she said, adding that the panel would assess the impact of AI and emerging technologies on jobs and skill requirements. IICT is India's first institution for creative technology, modelled on the IITs and IIMs. In July 2025, the Maharashtra government launched a satellite campus of IICT offering 18 industry-driven courses in the AVGC-XR sector with central support. htc...