The Indian online gaming industry is estimated to be worth over Rs. 4,400 crore by FY2018, up from Rs. 2,000 crore in FY14. While serious gamers love to play games that require real money, the industry also attracts casual players, who play games such as Farmville, Parking Wars, and Teen Patti. This means that India is a growing hub for the online gaming industry. With more than 920 start-ups in the country, the industry is expected to reach a value of nearly $4 billion by 2025.
The federal government has also begun discussions with stakeholders, including leading online gaming companies. The gaming companies are demanding clear regulations for skill-based online games and recognition of self-regulatory bodies. The gaming companies must also design specific games for India. Until then, there is a risk that regulatory oversight will hamper the industry. But the Indian government should be patient and wait for the Supreme Court’s verdict. Here are some ways to help the industry grow.
GST rates should be rational. Gaming services are subject to a rake fee, which is a percentage paid by the game player to the gaming platform. In some cases, the online gaming industry is free to play, but the player pays a rake fee for the platform to facilitate the game. In other cases, the industry works on a freemium model, which allows players to play a game for free and pay a premium for additional features. The online gaming industry needs to stay tax-efficient to survive and grow.
The Indian online gaming industry is thriving. While desktop games still dominate the market, mobile games make up a large chunk of online gaming in India. Growing smartphone usage is a major factor in the growth of the industry, and game developers will take advantage of that. Internet gaming can be broadly categorized into genres, including card games, fantasy sports, and esports. The most popular types of gaming on the internet are free to play games, while paid-for games require a subscription. Increasing popularity of social media and YouTube channels are also helping to create ecosystems among gamers.
India’s online gaming industry has grown at an unprecedented rate over the last two years. The growing number of smartphone users has provided the Indian market with easy access to popular national-international games, tournaments, and leagues. There are now over 400 gaming brands in India. As the online gaming industry continues to grow, it is likely to expand at a rapid pace in the future. The country’s high Internet penetration has also bolstered the growth of this industry.
The online gaming industry in India has grown substantially over the years, and this growth will continue to be even faster in the future. In the past few years, mobile phones have become the preferred gaming device, with desktop computers still a distant second. Today, however, gaming is still not fully regulated in India. The vast untapped potential of the Indian online gaming industry has many challenges to overcome, and a strong regulatory framework is essential to ensuring its continued success.