2 months ago
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The report, titled ‘Guardians of Safe Play: Ethical Gaming for Vibrant Bharat’, shows significant growth, projecting a 20% increase by FY25, reaching Rs 253 billion. In 5 years, the Indian gaming has attracted $2.8 billion from both domestic and global investors read more
 "India has world's second-largest number of online gamers despite hostile conditions, finds report")
Despite challenges faced in 2023, such as high GST rates leading to layoffs and startup closures, the sector still dominates revenue generation, supported by approximately 100 million daily online gamers, including 90 million paying users. Image Credit: Pexels
India’s online gaming community has surged to become the world’s second-largest after China, according to a recent report by Grant Thornton Bharat and the E-Gaming Federation (EGF). Despite a 28 per cent goods and services tax (GST), investor confidence in the real money gaming (RMG) sector remains strong, evident from robust deal activity.
The report, titled ‘Guardians of Safe Play: Ethical Gaming for Vibrant Bharat’, highlights significant growth in the industry, projecting a 20 per cent increase by FY25, reaching Rs 253 billion. Over the past five years, India’s real money gaming has attracted $2.8 billion from both domestic and global investors.
Key findings indicate that the RMG segment is becoming a major revenue driver, with users spending an average of 8.5 hours per week on gaming in FY22. Despite challenges faced in 2023, such as high GST rates leading to layoffs and startup closures, the sector still dominates revenue generation, supported by approximately 100 million daily online gamers, including 90 million paying users.
Investor confidence remains buoyant, as illustrated by significant investments in FY23, such as the acquisition of Ante Multimedia’s Good Game Exchange by Galactus Funware Technology - Mobile Premier League for $12.75 million. This underscores ongoing confidence in sustained industry growth, despite short-term tax impacts.
The report emphasizes the importance of a robust Code of Conduct (CoC) and self-regulation to ensure the industry’s sustainable expansion. It advocates for clear ethical standards, accountability, and transparency, suggesting third-party certification as a means to uphold high industry standards and foster responsible growth.
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