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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