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The first-ever India pavilion has been inaugurated at the prestigious Game Developers Conference in San Francisco, reflecting a new dimension of the bilateral relationship between India and the US.
The inauguration on Wednesday also saw the launch of the 'India Gaming Market Report'. It was done in collaboration with the US India Strategic and Partnership Forum (USISPF) and its member WinZO.
According to the report, India's gaming market is expected to grow from $3.1 billion in 2023 to $6 billion in 2028.
The inauguration of the India pavilion marks a significant milestone in the Indo-US relationship, said USISPF president and CEO Mukesh Aghi.
"The online gaming sector in India is burgeoning and initiatives such as these would go a long way in fostering collaboration between the two nations, including investment, innovation and content. We envision a future where our combined creativity fuels the next wave of gaming excellence," he said.
The event witnessed the participation of WinZO co-founders Paavan Nanda and Saumya Singh Rathore, India's Consul General in San Francisco K Srikar Reddy and Deputy Consul General Rakesh Adlakha.
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Reddy underlined the significant potential of India's digital economy, its youthful demographic dividend and the compelling power of storytelling in propelling the growth of the gaming sector.
"Each participant present at the India pavilion today serves as a digital ambassador, showcasing not only their work but also representing India on the global stage. It's gratifying to witness companies like WinZO actively supporting and collaborating with game developers, enabling them to export their content and gain global recognition," Reddy said.
According to the India Gaming Market Report, the gaming industry in India currently employs 1,00,000 professionals and is expected to create over 2,50,000 jobs in the coming decade.
India's gaming market is estimated to grow from $3.1 billion in 2023 to $6 billion in 2028. There were 881 million internet users in India in 2023 and the number is estimated to grow to 1.2 billion in 2028. Accordingly, the number of online gamers is expected to increase from 568 million in 2023 to 893 million in 2028, the report said.
India's share of the global gaming market is 1.1 per cent and the number of gaming companies in India has increased from 25 in 2015 to 1,400 in 2023.
At 17 per cent, India accounts for the highest share of mobile game app downloads worldwide, the report said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
