India’s Gaming Revolution: A New Era of Skill-Based Entertainment
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Article Synopsis in Bullet Points
- E-Gaming Federation (EGF), a leading Indian skill-gaming organization, recently held a roundtable on India’s online gaming industry, discussing growth and misconceptions.
- India has 442 million gamers but contributes only 1% to the global gaming revenue, showcasing untapped economic potential.
- The industry is aligned with the Make in India initiative, similar to GCC and BPO industries.
- The gaming sector is projected to grow from $3.1 billion to $8.92 billion over the next five years.
- Workforce in the gaming sector has increased 20-fold from 2018 to 2023.
- Confusion exists between skill gaming and gambling, with EGF urging for clear differentiation and informed discussions on this topic.
- Anuraag Saxena, CEO of EGF, emphasized the need for a regulated environment for responsible skill-based gaming and noted Prime Minister Modi’s support for the industry’s potential.
- Gujarat National Law University’s report recommends a unified legal framework, user education, and self-regulation in the industry.
- EGF represents major gaming developers and promotes self-regulation through a code of conduct.
India’s Growing Online Gaming Sector: Addressing Misconceptions and Unlocking Economic Potential
India’s online gaming industry is experiencing rapid growth, making headlines both domestically and internationally. However, the sector faces numerous misconceptions, including confusion between skill-based gaming and gambling. To shed light on this vital industry, the E-Gaming Federation (EGF), India’s leading body representing skill gaming, recently hosted a roundtable to discuss both its growth and the obstacles that lie ahead.
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India: A Major Player with Untapped Economic Potential
India is home to 442 million gamers, making up about 40% of the world’s gaming population. Despite these impressive numbers, India’s contribution to the global gaming revenue is only 1%, signaling immense potential yet to be realized. With a booming gamer base, the industry is set for transformation. A recent report by Grant Thornton Bharat and EGF forecasts the sector’s revenue to grow from $3.1 billion in 2024 to $8.92 billion by 2029. This growth positions online gaming as one of India’s fastest-developing industries and an essential player in the country’s digital economy.
An Industry Aligned with the ‘Make in India’ Vision
The online gaming sector is the first to align ‘naturally’ with the Make in India initiative in the GCC and BPO sectors. Gaming has the potential to create jobs, promote digital literacy, and contribute to the economy. According to EGF CEO Anuraag Saxena, this industry represents a new frontier in technology and employment opportunities. The sector saw a 20-fold increase in its workforce between 2018 and 2023, indicating strong growth potential for the future.
Addressing the Misconceptions: Skill Gaming vs. Gambling
One of the main issues the EGF discussed is the widespread confusion between skill gaming and gambling. In India, online gaming often faces stigma due to its association with gambling, leading to skepticism and regulatory challenges. During the roundtable, Anuraag Saxena emphasized the importance of distinguishing between these two categories, pointing out that skill-based games rely on players’ abilities rather than chance. This distinction is vital to ensure the industry’s reputation remains intact and to gain public trust.
“Skill gaming is a responsible form of entertainment that can foster growth without promoting unhealthy habits,” Anuraag stated. “We urge a more informed dialogue that will help establish skill gaming as a reputable industry distinct from gambling.”
Prime Minister Modi’s Support for the Industry’s Potential
The online gaming sector in India received a boost of recognition from Prime Minister Narendra Modi during his 78th Independence Day speech. He highlighted the role of the online gaming industry in driving technological advancements, skill development, and economic growth. Modi’s words have energized the industry, with players and stakeholders feeling encouraged to innovate and expand. “With millions of gamers and a market ready to grow, India stands on the cusp of becoming a global leader in online gaming,” Anuraag shared. EGF aims to realize this vision by fostering a safe, well-regulated environment that nurtures skill-based gaming.
Gujarat National Law University’s Report: A Call for Regulatory Standards
To address the challenges faced by the gaming industry, Gujarat National Law University (GNLU) released a comprehensive report in September 2024. Titled “Evaluating Blanket Bans and Mandatory Limits in Gaming,” the report advocates for a unified legal framework and a dedicated regulatory body. The GNLU report highlights that bans are not the solution and recommends risk-minimization practices, user education, and standardized industry guidelines to protect users and ensure ethical practices within the industry.
EGF: Advocating for Self-Regulation and a Code of Conduct
As the voice of India’s online gaming sector, the EGF represents a wide array of gaming developers and operators, including some of the country’s most prominent gaming companies. Committed to maintaining industry integrity, EGF has developed a standard structure for self-regulation through its code of conduct, ensuring safe and fair gaming practices. This self-regulation is crucial for the industry to continue growing responsibly while preventing misuse.
The Future of India’s Online Gaming Industry
The online gaming sector in India has already seen remarkable growth, and with further regulation and public awareness, it has the potential to play a pivotal role in the country’s economic and technological landscape. As EGF works to reshape perceptions and create a responsible gaming environment, the future looks bright for India’s gaming industry. The next few years could witness India emerge as a leader in skill-based gaming, with the potential to rival the world’s biggest gaming markets.
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