Interactive Entertainment and Innovation Council (IEIC) and WinZO released India Gaming Report 2024 | Current Affairs | Vision IAS
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    Interactive Entertainment and Innovation Council (IEIC) and WinZO released India Gaming Report 2024

    Posted 28 Mar 2024

    Updated 30 Mar 2024

    2 min read

    • Key findings:
      • With 568 million users, India is officially the largest gaming market and accounts for every one in five online gamers globally.
      • Indian gaming market is expected to reach $6 Billion by 2028.
      • Number of Indian gaming companies surged from 25 in 2015 to over 1400 in 2023

     

    • Factors responsible for boost in gaming industry:
      • Rise of affordable high-speed internet ($0.17/GB) and increase in smartphone penetration (820 million users).
      • Burgeoning share of young population (~600 million) and rising disposable income.
      • Supply side factors include global investments in game development, rewarding gaming career, vernacular language content and gamification of Indian culture etc. 

     

    • Gaming’s contribution to society: Reduction in social isolation, community building, especially for women gamers, and its role in enhancing research, education and skilling.

     

    • Challenges to gaming sector:
      • Sustainability issues from 'internet pollution' (3.7% of Greenhouse Gas emissions).
      • Financial literacy gaps, regulatory complexities, and data security challenges.

     

    • Recommendations: 
      • Utilise green innovations and virtual environments for sustainable gaming.
      • Establish a global gaming cluster with policy support, supporting startups and talent development.
      • Prioritise R&D for online safety and digital literacy.

     

    Government Interventions for promotion of sector:

    • MeitY acts as nodal agency for online gaming regulations and development.
    • Schemes like Make in India, Digital India, and Production Linked Incentive (PLI).
    • Animation, Visual Effects, Gaming and Comic (AVGC) taskforce report, Draft National AVGC Policy and National AVGC centre of excellence. 
    • 100% FDI in gaming sector, utilizing automatic route within Electronic System and IT & BPM sectors.
    • Tags :
    • Gaming
    • Online Gaming
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