One of the country's fastest-growing industries, online gaming is projected to grow from $3.1 billion to $8.92 billion over the next five years, according to the E-Gaming Federation (EGF), India's leading skill-gaming industry body. According to a report by Grant Thornton India and the e-Gaming Federation, the Indian gaming industry has seen a 20-fold increase in workforce growth from 2018 to 2023.
Despite this huge advantage, the field is beset by uncertainty of perception. Also India is home to 40% of global gamers but accounts for only 1% of global revenue. There is also confusion between online skill gaming and gambling due to lack of information. The rapid growth of the Indian online gaming sector as well as common misconceptions and the industry's important role in India's economic growth were clarified.
Anurag Saxena of Assoc spoke about the challenges associated with the online gaming industry, legal and especially the misconceptions that often confuse online skill-based games as gambling. He urged dialogue for the long-term viability of the industry.
Emphasized the importance of distinguishing between skill-based gaming and offshore illegal betting-platforms. Emphasized the need to rethink the perspective of gaming and outlined to create an enabling environment that promotes growth for the industry by ensuring responsible gaming.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
