There are about 78 crore active internet users in India and about 43 crore online gamers. Its market size is Rs 16428 crore. This figure shows the increasing interest in gaming among people. Investors are also coming forward to make the online gaming industry bigger. They see opportunities for growth in this industry.
Brand Desk, New Delhi. With a strong digital infrastructure and expanded digital access, India is poised to become a $1 trillion digital economy by 2025, in which the online gaming industry can also play an important role.
Let us tell you that the growth of the online gaming industry has increased rapidly in the last year i.e. 2023, which shows that there is a lot of potential for progress in this sector. If we want to understand the potential of this industry, then we should pay attention to the recent report of EY, named ‘New Frontiers: Navigating the Evolving Landscape for Online Gaming in India’.
Let us know about some points of this report.
According to this report, there are 78 crore internet users in India and about 43 crore online gamers. Its market size is Rs 16,428 crore. This figure shows the increasing interest in gaming among people. Investors are also coming forward to make the online gaming industry bigger. They see opportunities for growth in this industry. So far, the industry has received an investment of Rs 22,931 crore from domestic and global sources between financial year 2020 and year 2024. Not only this, this industry is allowing many youth to make their career in it and is also providing employment. According to the EY report, the gaming industry employed 1 lakh people in the financial year 2023 and this number is expected to reach 2,50,000 by 2025. Need a source to quote here.
Talking about Real-Money Gaming (RMG ), its share in the online gaming industry is 83%. Real money gaming is a game model through which players can earn money by playing games. This segment can contribute Rs 6,500 to Rs 6,800 crore as corporate tax and TDS between financial years 2024 to 2028, thereby boosting the exchequer.
India is rapidly moving towards Digital India. This initiative is not only benefiting the people sitting at the lower level of society but is also improving governance. The online gaming segment represents an innovative and technologically advanced India, aligned with the Digital India initiative, which promotes digital literacy and enhances connectivity through payments. The growth of this sector is reflected in the number of startups opening in it. There are now around 1,500 gaming startups in this sector, which are contributing to the government's vision and the economy.
There is tremendous potential for growth in the online gaming industry. It is contributing to the growing economy and is also encouraging people for digital adoption. Now more and more people are joining this field, which shows the growth of this industry in the future.
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