Gaming Industry India

Average weekly time spent on online games soars 30%. Over 44% of gamers are now women, up from 41% the previous year, playing casual mobile games

Two such games launched in October alone as the industry tackles 28 per cent GST

The online gaming space in India needs a uniform legal framework, evidence-based policy interventions, and an important equilibrium between user protection and the industry's economic potential, a recent report has said. The Gujarat National Law University (GNLU) on Wednesday released the "Evaluating Blanket Bans and Mandatory Limits in Gaming" report, calling for regulations on the online gaming industry. With over 500 million gamers, India is the second-largest market globally after China, the report said. "This rapid expansion, as with any emerging technology, has brought forth challenges, particularly concerning user safety and financial risks. The absence of an overarching regulation has left users in a grey zone," it said. The report studied international frameworks and noted that unlike India, nearly all jurisdictions have established licensing processes and enforced a duty of care for gaming operators. "India should adopt a regulatory framework that mandates operators to

According to Anuraag Saxena, CEO of industry body E-Gaming Federation (EGF), India has about 40 per cent of the world's games, with less than 1 per cent of gaming revenues

Prime Minister Narendra Modi said that India is currently training a skilled workforce of 85,000 professionals in semiconductor chip design across 113 academic institutions

Union Budget must treat 'legitimate part of gaming industry' as govt treats other sectors in the technology industry, say representatives

The sunrise sector must be integrated into national development goal and strategies

India is the fastest growing mobile gaming market and the annual revenue of the overall Indian gaming industry is expected to almost double to USD 6 billion by 2028 from USD 3.1 billion in 2023, a joint report by Interactive Entertainment and Innovation Council and online gaming firm Winzo said on Wednesday. The India Gaming Report 2024 based on Interactive Entertainment and Innovation Council (IEIC) analysis and secondary data, projects paying gamers to reach 240 million by 2028 from 144 million paid users for games in 2023. "The Indian gaming industry comprises over 1400 gaming companies, including 500 gaming studios. The annual revenue for gaming is projected to reach USD 6 billion by 2028," the report said. According to the report, the number of professional players will grow by 2.5 times over the next five years from 500 in 2023 on the back of recognition by the government of esports and various state government-led initiatives to develop talent around esports. "In just four .

According to a study by GWI, an audience research company 90 per cent of gamers who discover new games on social media, do so through Meta with Reels playing a leading role in discovery

Interim Budget 2024: Online gaming and esports industries have had an eventful 2023 owing to the GST Council's decision to impose a blanket 28% tax. Here's what the industries expect in the Budget

Firms expect Budget to address concerns on consumer/player protection, without stifling innovation

SCOPE, an invite-only networking platform for the startup ecosystem, on Tuesday announced the launch of a USD 45 million venture capital fund focused on driving innovation in the fast-evolving fintech and gaming sectors. This strategic initiative underlines SCOPE's commitment to fostering innovation, collaboration, and growth within the startup community, according to a release. The VC arm will operate as an independent entity under the SCOPE ambit, to identify, nurture, and accelerate "groundbreaking startups that demonstrate exceptional promise and disruptive potential". Announcing the launch of the USD 45 million fund designed for fintech and gaming sectors, the release said, "SCOPE recognises the immense opportunities presented by fintech and gaming". Both sectors, it noted, have witnessed unprecedented growth, driven by technological advancements, changing consumer behaviours, and an increasing demand for innovative solutions. "The venture capitalist arm aims to be at the ...

The launch of Newszop, Astrozop, and Criczop will help in boosting user engagement and driving advertising revenue

The gaming unicorn has derived 38% of this revenue from its operations in international markets up from 11 per cent in FY22

Look to take measured bets in casual and mid-core games

Joy Bhattacharjya, Director-General, FIFS, said that India's gaming sector is a sunrise sector, with almost 50 crore active users

In the last financial year, gamers in India stood at 568 million, of which 25 per cent were paying users. The number of gamers in India, as per the report, grew by 12 per cent compared to last year

Creating an engaging game is difficult. But more difficult is to get consumer to download the app & engage with it. In this re­gard, the gaming firms in India have done the impossible in short period

An official said that companies have pleaded that the GST demand raised is 3-4 times their revenues and that they will not be able to survive this

A study by the Electronic Gaming Foundation in consultancy with the Indian Statistical Institute (ISI) has found that, despite a high tax rate, the players are optimistic about the potential of the online skill gaming industry in India. Skill gaming is a game in which the outcome is impacted by the player's skill and not chance or luck. The study, titled "Unveiling the Potential and Scope of the Online Skill Gaming Industry", comes at a time when the sector is facing taxation similar to sin goods at 28 per cent, which has called into question the survival of many entities, mainly the smaller ones. The survey, advised by two ISI professors, Diganta Mukherjee and Subhamoy Maitra, surveyed 4,644 engineering students and professionals across five states - Andhra Pradesh, Telangana, Kerala, Karnataka, and Tamil Nadu - to explore their perceptions, aspirations, and preferences regarding the online skill gaming sector. The study found that the majority of respondents are optimistic about