The newly-elected BJP governments including those in UP, Manipur, Goa and Uttarakhand may have sensed the massive market for online gaming and e-gaming startups. They support these ventures and are pushing this forward despite the Karnataka High Court dispute with the industry that banned online gaming in the state.
Internet and Mobile Association of India (IAMAI) in collaboration with OnePlus and RedSeer reported that the Indian gaming market is expected to reach $6-7 billion in value by 2025 from $1.8 billion at present.
Sai Srinivas cofounder & CEO, Mobile Premier League (MPL) told the Economic Times, “in various states across India we continue to expand our footprint and now India is also at a global tipping point in the key global markets.” MPL recently acquired Berlin-based games studio GameDuell.
MPL’s expansion to Europe reinforces its commitment to the growing gaming sector and a strong intent to cater to the global markets. The deal will provide MPL with skilled developers with expertise in building multiplayer games like board, action arcade, and puzzle games.
The IAMAI report titled ‘Building up the e-gaming ecosystem of India and the influence of smartphones’, the report also emphasized that 40% of the hardcore gamers spend about Rs 230 in a month.
India has an abundant market of gamers amounting to over 200 million over more than 200 platforms. The recent Karnataka High Court judgement lifting the ban on gaming in the state follows other positive judgements given by High Court’s of states such as Punjab & Haryana, Rajasthan, Bombay that recognised Fantasy Sports as games of skill and a legitimate business activity protected under Article 19(1)(g) of the Constitution of India. The states which concluded the elections recently want to elevate this market and attract more players into the virtual gaming circuit. Interestingly, the Asian Games 2022 to be held in Hangzhou in China also includes e-sports as medal games.
IPK Mishra, president of All India Gaming Federation said, “e-sports and e-gaming, under the umbrella of digital economy growth, are going to play an important role in the Indian economy. To encourage this, the e-gaming industry needs robust policy frameworks and digital infrastructure to foray towards being a global leader.”
Roland Landers CEO, All India Gaming Federation pointed out that the proposed Animation, Visual effects, Gaming and Comics (AVGC) taskforce (AVGC) will help in building a robust policy framework that will further support innovation and growth in sectors including e-gaming and metaverse.
The gaming industry hit a speedbump with some states viewing them as games of chance and not skill. With the states acting as a catalyst, renewed focus on the intricacies of this industry. This will not only create more jobs and bring influx of capital but provide a platform for innovation as well.