The Indian government has recognized the online gaming landscape as having a high potential for growth. The government says that gaming makes significant contributions to the Indian economy. Indian gaming segment contributes through FDI investments, employment, revenue generation.
According to a recent industry report, there were around 425 Million gamers in the Indian Gaming community in FY 2023. The report also shows a YOY growth of 4.5%. Moreover, the segment has attracted investments of close to $1.9 Billion between the years 2020 and 2023.
Another report says that the Indian gaming segment can reach $4.6 Billion by the year 2025, with a compound annual growth of 21%. As internet usage gets boosted in India, 548 Million smartphone users and approx. 430 Million unique mobile gaming app downloads took place in the year 2023.
The RMG (Real Money Gaming) Segment
Real Money gaming holds the high ground in India, with a market share of 82.8% in FY23. this shows that Indian developers and publishers are focused on RMG more than other segments of gaming sectors.
Even the rules and regulations are revolving around the concerns related to the RMG segment. The government and law enforcement agencies are also focusing on curbing illegal gambling/betting to promote safe RMG online games.
More On The Major Lobby Groups
There are four major lobby groups that represent the majority of Indian online gaming companies. The lobby groups are the E-Gaming Federation (EGF), the Internet and Mobile Association of India (IAMAI), the Federation of Indian Fantasy Sports (FIFS), and the All India Gaming Federation (AIGF).
As mentioned before, their focus is also revolving around legitimising RMG games and curbing the usage of illegal gambling and betting. The theme has now become the industry standard to protect consumer interests and create a healthy gaming environment for Indian gamers.
However, the Indian government recognizes that non-RMG games should also be promoted. In the recent consultation paper, the government sought industry reviews on the matter while promoting Indian developers and independent publishers.
The Indian government has now emphasised the fact that popular online games developed in foreign countries are better than India’s. This is due to the lack of expertise and knowledge of the market. So, now, after days and months of discussion, the dynamics are shifting from illegal gambling vs. legal RMG games towards potent ways for revenue generation from the online gaming industry.
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