Fuelling the world's VFX machine

History and tech power have ensured India remains at the forefront of global visual effects biz

- VANITA KOHLI-KHANDEKAR

Namit Malhotra is obsessed with showcasing Ramayana to the world. Earlier this year, the chief executive officer (CEO) of visual effects (VFX) major DNEG, announced a tieup with actor Yash's Monster Mind Creations to produce Ramayana.

Nitesh Tiwari, who made India's most successful film, Dangal (2016), will direct this epic tale of good versus evil.

The London-based DNEG has seven Oscar wins for its work on films like Dune, Inception and Interstellar.

"The ambition is to stand next to the Dunes and the Avatars and the biggest movies in the world. Brahmastra (which DNEG co-produced) and Kalki (which it has worked on) are great but Ramayana will set a new paradigm," says Malhotra, founder of DNEG's parent, the 4,167 crore (revenues FY 202324) Mumbai-based Prime Focus.

In July this year, DNEG raised $200 million from UAE's United Al Saqer Group giving it a valuation of over $2 billion. A part of this money will go towards producing films such as Ramayana among others.

This ambition, scale and capital then is the biggest indicator of the changes sweeping the estimated $30 billion global market for visual effects and the role India plays.

"India is a necessary hub for any scalable global play in the visual effects world," says Biren Ghose, managing director, Asia Pacific for the €784 million (7,116 crore: FY 2022) Technicolor Group. It has worked on Life of Pi, Harry Potter and Gladiator among others.