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India’s Gaming Industry

Published: 3rd May, 2024

Context

India’s gaming industry has exhibited a rise in development in their games and content creation targeted to the local preferences and culture sensibilities of the Indian market.

1: Dimension- Mobile Gaming Dominance:

  • India has become a game changer in the global gaming landscape. It recently surpassed China as the primary consumer of mobile games.
  • The Indian gaming market is currently 2.5 times larger than China and three times larger than the United States.
  • This surge is attributed to the rising number of youth engaging with games and the widespread availability of affordable mobile data.
  • Key drivers of Gaming Industry in India: Smartphone penetration, affordable internet, young demography of India, introduction of new games with a shorter learning curve.

2: Dimension- Impact on economy

  • Positive impact on economy: High Revenue generation, boost in start-ups since pandemic, help people to build a professional career and build skills, employment generation, increasing peer-to peer bonds.
  • Negative impact on economy: 'Internet Gaming Disorder' due to addiction to online gaming, societal concerns, tax evasions (most apps operate from outside the country), lack of regulations, absence of framework

3: Dimension- Measures to shape trajectory of online gaming

  • Digital India: The Indian government’s vision of “Digital India” has catalyzed the gaming industry.
  • Inter-Ministerial Task Force (IMTF): The IMTF aims to recommend universal, national-level legislation for regulating online gaming.
  • Affordable Mobile Data: India boasts affordable and decent mobile data compared to other countrieswidth="624" style="width: 925px;">

Fact Box: Market Size and Growth:

  • The India Gaming Market is estimated to be USD 3.49 billion in 2024 and is projected to reach USD 7.24 billion by 2029, exhibiting a robust CAGR of 15.68% during the forecast period (2024-2029).
  • India’s substantial youth population, evolving IT infrastructure, and increased adoption of mobile devices and high-speed internet are driving this growth.
  • The integration of cutting-edge technologies like Virtual Reality (VR), Augmented Reality (AR), and the metaverse into console and computer games further propels the industry.

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