According to a report, the Indian gaming industry is expected to grow by 20% to reach INR 23,100 crore by FY25. Industry estimates indicate that India now has 442 million online gamers, more than China. According to a recent report, investor sentiment for the real money gaming segment has remained strong despite the 28% GST, as evidenced by deal activity. India boasts the second-largest online gaming community in the world, right behind China. Grant Thornton Bharat and the E-Gaming Federation’s report also promoted the creation of a thorough Code of Conduct (CoC) for the gaming sector, which would establish unambiguous guidelines for moral conduct and guarantee accountability and openness.
The ‘Guardians of Safe Play: Ethical Gaming for Vibrant Bharat’ report projects that by FY25, the industry will have grown by 20% to reach INR 253 billion. The report went on to say that Indian gaming has brought in USD 2.8 billion from both domestic and foreign investors in the last five years. According to the report, India’s gaming industry is growing at an unprecedented rate and is driven by a youthful and energetic population. It also emphasized the necessity of robust player protection systems, supporting preventative actions and educational programs. It demanded cooperation from legislators, regulators, and business leaders to establish a safe gaming environment.
The RMG sector in India faced a number of difficulties in 2023, according to the report. The industry was “significantly impacted” by the government’s implementation of a 28% Goods and Services Tax (GST), which resulted in numerous layoffs and the closure of some start-ups because of the tax burden. It became apparent that it was a major source of income.
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Nevertheless, the report said that deal activity indicates confidence in the industry’s continued growth and that investor sentiment in it is still strong. It featured noteworthy examples of investments made in FY23, like Galactus Funware Technology’s $12.75 million purchase of Ante Multimedia’s Good Game Exchange for Mobile Premier League.
The significance of third-party certification in promoting self-regulation and upholding industry standards is emphasized in the report. Furthermore, the report highlights the importance of player protection and consumer rights, advocating for strong regulatory frameworks to protect players against fraudulent activities, cyberattacks, and other unfair practices.
Despite difficulties, the mobile gaming industry continues to generate between 83 and 84% of total revenue, with 90 million of the 100 million daily online gamers paying to play. According to the report, the involvement of gamers guarantees the industry’s growth, with the tax implications having a minimal effect on the sector’s overall long-term growth.
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