The Indian gaming industry has come a long way in the past few years, with many local companies emerging as major players in the global market. These companies are making a significant contribution to the growth of the gaming industry in India and are helping to put the country on the map as a hub for game development.
Recently, the Indian government has officially recognized esports in the country. Esports will now be a part of “multi-sports event” category in India under the Ministry of youth affairs and sports and a section related to “matters relating to online gaming” is added under MeitY as well.
Under the cabinet secretariat, the addition of “esports” was notified under the sub-heading department of sports under, the ministry of youth affairs and sports. The notification was sent on December 23, 2022.
The government is taking this significant step towards regulating the esports industry, which generates billions of dollars in investments and expenditures annually. This move demonstrates the government’s commitment to supporting the growth of the digital economy and esports in India.
The Indian gaming industry is not just limited to mobile games. There are also several Indian gaming companies that are involved in the development of console and PC games.
The growth of the Indian gaming industry is being fueled by the increasing popularity of gaming in the country. According to a report gaming in India is expected to grow by 20-30 per cent and add 1 lakh jobs in financial year 2023. The sector employs 50,000 people, of which 30 per cent are programmers and developers. It has grown from being worth Rs 7,037 crore in FY 2019 to Rs 14,300 crore in FY 2022. The sector is projected to be worth Rs 38,097 crore in FY 2026 and grow five-fold in the next seven years, according to TeamLease Digital ‘Gaming- Tomorrow’s Blockbuster’ report.
The government is also supporting the growth of the Indian gaming industry by providing incentives to companies that invest in the sector. This is helping to attract more investment and talent to the industry, which is driving its growth.
In conclusion, the Indian gaming industry is rapidly growing and is home to a number of successful companies that are making a significant contribution to the global gaming industry. With the increasing popularity of gaming in the country and the support of the government, it is expected that the industry will continue to grow in the coming years.
