Gaming Industry India

GST on betting: Indian gaming industry faces tax demands by Feb 2025

While some firms have already received tax demands, gaming industry bodies are lobbying to prevent aggressive enforcement actions until the Supreme Court resolves the matter

India's online gaming market grew by 23% in FY24 despite GST burden: Report

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

India's gaming industry steps up profile with homemade 'AAA' products

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

Indian online gaming industry needs unified regulator: Gujarat NLU report

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

PM Narendra Modi calls on India's gaming talent to lead the world

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

PM Modi urges youth to lead in semiconductors, gaming industry growth

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

India's gaming sector unique, naturally inclined to Make in India: EGF CEO

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

Online gaming can help India's development goals, needs clear regulations

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

Indian gaming market revenue may double to $6 billion by 2028: Report

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 .

Meta sees big opportunity in gaming industry: MD Sandhya Devanathan

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

Budget 2024: What do the online gaming and esports industries expect?

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

Budget 2024 wishlist: Gaming industry seeks clarity on regulation, taxation

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

SCOPE launches $45 mn venture capital fund for fintech, gaming sectors

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 ...

Gamezop expands publisher offerings with Newszop, Astrozop, and Criczop

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

MPL's revenue surges 63% to $104.6 mn in FY23; losses narrowed by over 70%

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

Rolling dice on tax changes: Investor interest in real-money gaming sours

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

Gaming industry signs code of ethics for safe, trusted & accountable gaming

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

$8.9 bn in notices! Why India's gaming revenue forecast has been slashed

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

Cashing in on a new addiction: mobile games

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

Gaming industry sees tax liability increasing by 1,400% on DGCI calculation

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