FICCI-BAF Awards 2025 celebrates excellence in AVGC-XR Industry; Unveils FICCI-EY M&E Report on Industry Growth

Mar 28, 2025

MUMBAI, 28 March 2025: ‘FICCI-BAF Awards 2025’ were announced yesterday celebrating excellence in Animation, Visual Effects (VFX), Gaming, Comics, and Extended Reality (XR). Established in 2004, the Best Animated Frames (BAF) Awards have grown into India's foremost platform recognizing innovation, creativity, and technological advancements in the AVGC-XR sector.

 

With 33 award categories, this year’s ceremony honoured outstanding contributions across the industry, including Best Animated Feature, Best VFX in Films, Best Game Design, and Best XR Experience. The awards catalyse innovation, offering students, professionals, and studios a global stage to showcase their work while facilitating invaluable networking opportunities with investors, producers, and industry leaders.

 

During the event, FICCI also launched the Annual FICCI-EY Media and Entertainment (M&E) Report – Shaping the Future, offering key insights into the industry’s trajectory. According to the report, India's M&E sector grew by 3.3% in 2024, reaching INR 2.5 trillion (US$29.4 billion). Digital media emerged as the largest segment, growing by 17% to INR 802 billion, while advertising revenues saw an 8.1% rise, driven by digital platforms, live events, and Out-of-Home (OOH) media. However, a 2% decline in subscription revenues impacted traditional media segments, highlighting the need for strategic policy support. The sector is projected to grow 7.2% in 2025 and reach INR 3.1 trillion by 2027, driven by digital expansion, strategic alliances, and AI-driven advancements.

 

Speaking on the occasion, Mr Munjal Shroff, Chair, FICCI AVGC-XR Forum, said, “The FICCI BAF Awards 2025 celebrate the ingenuity, passion, and dedication of India’s AVGC-XR industry. As technology and storytelling evolve, India is emerging as a powerhouse in content creation for global audiences. We appreciate the Government of Maharashtra for their continued support in nurturing the creative ecosystem and fostering innovation in the AVGC-XR sector. The industry’s future is promising, and we remain committed to advancing India’s leadership in this space."

 

The FICCI BAF Awards 2025 reaffirm FICCI’s commitment to supporting the growth of India’s AVGC-XR industry and providing a dynamic platform for the next generation of creators.