Mumbai, May 4 -- In a landmark move to elevate India's standing in creative technologies, the Centre has announced the formation of the Indian Institute of Creative Technology (IICT) in Mumbai-modelled on the lines of IITs and IIMs.

The institute will function as a National Centre of Excellence exclusively for the AVGC-XR sector, covering Animation, Visual Effects, Gaming, Comics, and Extended Reality.

The agreement was formalised on Saturday at the Jio World Centre during the third day of the WAVE Summit in the presence of Union Minister Ashwini Vaishnaw.

The partnerships aim to foster high-quality education, innovation, and R&D in digital creative fields, with a long-term vision to replicate India's successful IT model within the med...