- India, which is home to 40% of the world’s gamers, accounts for only 1% of global gaming revenue, revealing a substantial economic opportunity.
- Gaming is the first sector, following GCC and BPO, that is ‘naturally aligned’ with the Make in India initiative.
Ahmedabad : The E-Gaming Federation (EGF), which is India’s leading organization for the skill-gaming industry, recently held an engaging roundtable discussion. This event highlighted the swift expansion of the Indian online gaming sector, while also addressing prevalent misconceptions and emphasizing the industry’s vital contribution to India’s economic growth.The EGF reiterated its commitment to nurturing a sustainable gaming environment by advocating for educational initiatives and awareness programs. By doing so, they aim to shift public perception and encourage wider acceptance of online gaming as a legitimate and valuable industry in India’s digital economy.
One of the country’s rapidly expanding sectors, online gaming is expected to surge from $3.1 billion to $8.92 billion over the next five years. A recent report by Grant Thornton Bharat and the E-Gaming Federation highlights that the Indian gaming industry has experienced a remarkable twenty-fold increase in workforce growth from 2018 to 2023. However, despite this significant growth, the emerging sector is often overshadowed by varying perceptions. Additionally, there is confusion between online skill gaming and gambling, stemming from insufficient information.
Speaking on the occasion Mr. Anuraag Saxena, CEO, EGF spoke on the challenges, the legal and ethical dilemmas surrounding the online gaming industry particularly the misconceptions where online skill-based games are often confused with gambling. He urged a more informed dialogue for the industry’s long-term viability and emphasized the significance of differentiating between skill-based gaming and offshore illegal betting and gambling platforms. Anuraag stressed the need to rethink the perspective on gaming in India and underlined the factors to create an enabling environment that fosters growth for the industry while ensuring responsible gaming practices.
“The online gaming industry represents a new frontier in technology and job creation. During the 78th Independence Day speech Hon’ble Prime Minister Narendra Modi underscored the immense potential of this sector to drive technological innovation, skill development, and economic growth. His words inspired a new chapter for India’s gaming industry. With 442 million gamers and a market ready to soar, India is on the brink of global leadership in gaming. We, at EGF are committed to turning this vision into reality by fostering a safe, well-regulated environment for responsible, skill-based gaming to thrive in India,” added Anuraag.
In line with these, Gujarat National Law University’s (GNLU) September 2024 report, ‘Evaluating Blanket Bans and Mandatory Limits in Gaming’, advocates for a unified legal framework and a dedicated regulatory body to address industry-specific challenges. Emphasizing risk minimization, the report highlights the significance of user education and industry standards. Furthermore, it provides observations and recommendations on the most effective approaches to user protection and regulatory measures.
EGF serves as the collective voice of the online gaming industry in India, reflecting the opinions of a significant majority. The Federation includes the top five gaming developers and operators in the country, featuring a Unicorn among its members. To promote and support the adoption of self-regulation, EGF has established a standardized framework through a code of conduct, ensuring the seamless operation of the online gaming ecosystem.
