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India Gaming Report 2024


Why is it in the news?

  • The India Gaming Report 2024 was released by the Interactive Entertainment and Innovation Council (IEIC) and WinZO.

 

Key Findings

  • India boasts 568 million gamers, making it the largest gaming market globally, with every one in five online gamers hailing from the country.
  • The Indian gaming market is anticipated to reach a valuation of $6 billion by 2028, indicating significant expansion potential.
  • The number of Indian gaming companies has witnessed a remarkable surge, escalating from 25 in 2015 to over 1400 in 2023, underlining the sector’s rapid evolution and expansion.

 

Factors Driving Growth

  • Technological Advancements: The proliferation of affordable high-speed internet, priced at $0.17/GB, coupled with widespread smartphone penetration (820 million users), has fuelled accessibility and engagement in the gaming ecosystem.
  • Demographic Dividend: India’s sizable young population, estimated at 600 million, along with rising disposable incomes, has contributed significantly to the burgeoning gaming industry.
  • Global Investments: Increased global investments in game development, along with the recognition and rewarding of gaming careers, have bolstered the industry’s growth trajectory.
  • Cultural Adaptation: The incorporation of vernacular language content and the gamification of Indian culture have enhanced user engagement and contributed to the sector’s vibrancy.

 

Gaming’s Societal Contributions

  • Gaming platforms have played a pivotal role in reducing social isolation and fostering community building, particularly among women gamers.
  • Gaming platforms have been leveraged to enhance research, education, and skill development initiatives, presenting innovative avenues for learning and growth.

Challenges Facing the Gaming Sector

  • The emergence of sustainability issues stemming from “internet pollution,” which contributes to approximately 3.7% of Greenhouse Gas emissions, poses a significant challenge.
  • Financial literacy gaps, regulatory complexities, and data security challenges present obstacles to the sector’s sustainable growth and development.

Recommendations

  • Encourage the adoption of green innovations and virtual environments to mitigate the environmental impact of gaming activities.
  • Establish a global gaming cluster with robust policy support mechanisms, aimed at nurturing startups and talent development within the sector.
  • Prioritize research and development initiatives focused on enhancing online safety measures and promoting digital literacy among gaming enthusiasts.
Government Interventions for Sector Promotion

路聽聽聽聽聽聽 The Ministry of Electronics and Information Technology (MeitY) serves as the nodal agency for online gaming regulations and development, ensuring regulatory compliance and industry oversight.

路聽聽聽聽聽聽 Implementation of flagship schemes such as Make in India, Digital India, and Production Linked Incentive (PLI) schemes to incentivize domestic production and innovation in the gaming sector.

路聽聽聽聽聽聽 Release of comprehensive reports such as the Animation, Visual Effects, Gaming, and Comic (AVGC) taskforce report, Draft National AVGC Policy, and establishment of the National AVGC centre of excellence to facilitate sectoral growth and development.

路聽聽聽聽聽聽 Facilitation of 100% Foreign Direct Investment (FDI) in the gaming sector via the automatic route within the Electronic System and IT & BPM sectors, fostering greater investment inflows and industry expansion.

 

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