Is the Maharashtra Government Launching an Emerging Technology Fund?
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Synopsis
The Maharashtra government is set to launch a Rs 300 crore Emerging Technology Fund to ignite innovation and create job opportunities, especially in the gaming and tech sectors. This initiative aims to position Maharashtra as a leading hub in the AVGC industry.
Key Takeaways
- Maharashtra Emerging Technology Fund established with Rs 300 crore.
- Focus on innovation, job creation, and revenue generation.
- Dedicated policy for AVGC-XR sectors.
- Special incentives for emerging technologies and regional content.
- MoUs worth Rs 8,000 crore signed in media and entertainment.
Mumbai, July 9 (NationPress) - The state administration has announced the establishment of the Maharashtra Emerging Technology Fund with an allocation of Rs 300 crore. This initiative aims to foster innovation, job creation, revenue generation, exports, and the development of intellectual property in sectors like gaming and other emerging technologies.
The state is in the process of crafting a dedicated policy for Animation, Visual Effects, Gaming, and Comics-Extended Reality (AVGC-XR), as stated by Industries Minister Uday Samant during a recent assembly session.
Responding to a motion raised by member Shrikant Bhartiya, Minister Samant emphasized that the government is committed to bolstering innovation through investments in the state. The newly announced Information Technology and IT Supported Services Policy-2023 is designed to attract global companies, professionals, and students to establish Maharashtra as the AVGC hub of the nation.
“This policy includes additional incentives for innovators, investors, developers, and design studios. Moreover, it aims to provide distinct incentives for the innovation aspects of all games, excluding those based on gambling. There are also special perks for studios that focus on regional Marathi content,” remarked Minister Samant.
The minister highlighted that the policy offers special benefits for developing emerging technologies such as Artificial Intelligence, Blockchain, 3D Printing, Internet of Things, Robotics, Nano Technology, Big Data, and Quantum Computing. These benefits encompass stamp duty waivers, electricity tariff concessions, capital subsidies, and various forms of assistance aimed at skills development and recruitment.
Furthermore, the policy places a strong emphasis on the growth of data centers, providing a range of financial and non-financial incentives for developers. Various initiatives are underway to advance the fields of animation, visual effects, gaming, and comics, along with emerging technology sectors. Notably, MoUs worth Rs 8,000 crore have been signed in the media and entertainment sector during the Audiovisual Conference-2025 (WAVES 2025), according to the minister.
Mumbai and Pune are highlighted as key hubs for information technology, media, and entertainment. The state's strengths lie in the availability of skilled labor, an active innovation ecosystem, investor presence, high-speed internet, and state-of-the-art technology facilities. Because of this, there are abundant opportunities for establishing industries in the gaming sector. The global gaming industry is rapidly expanding, creating significant potential for India in this domain,” Minister Samant concluded.
Point of View
The establishment of the Maharashtra Emerging Technology Fund reflects the government's strategic move to position the state as a leader in innovation and technology. By investing in emerging sectors such as gaming and animation, Maharashtra aims to attract talent and investment, thereby fostering economic growth and job creation.
NationPress
14/07/2025
Frequently Asked Questions
What is the Maharashtra Emerging Technology Fund?
The Maharashtra Emerging Technology Fund is a newly established fund with an allocation of Rs 300 crore aimed at promoting innovation and job creation in sectors such as gaming and emerging technologies.
What are the benefits of the new policy for the AVGC sector?
The policy offers incentives for innovators and studios, including additional perks for the innovation aspect of games, excluding gambling, and specific incentives for producing regional Marathi content.
How does the fund support job creation?
The fund supports job creation by fostering innovation and attracting investments in emerging technology sectors, which will create new employment opportunities.
What technologies are being prioritized under this initiative?
The initiative prioritizes technologies such as Artificial Intelligence, Blockchain, 3D Printing, Internet of Things, Robotics, Nano Technology, Big Data, and Quantum Computing.
What is the significance of data centers in this policy?
The policy emphasizes the development of data centers by providing financial and non-financial incentives, which are crucial for supporting the tech ecosystem.
