According to a recent report, the Indian gaming industry is projected to grow by 20% year-on-year, reaching $8.92 billion in the next five years. The report, titled “Guardians of Safe Play: Ethical Gaming for Vibrant Bharat,” was published by consultancy firm Grant Thornton Bharat in collaboration with the Indian gaming industry body E-Gaming Federation (EGF).
The report prioritizes the need for a comprehensive code of conduct in the gaming industry to define ethical standards, ensuring accountability and transparency. It highlighted that the proposed code of conduct would address major risks, such as cyber threats, regulatory, uncertainties, and financial risks. It would mandate the best practices to tackle these challenges, thereby supporting the industry’s sustainability and growth.
India’s gaming sector is currently valued at approximately $3.1 billion, making it the largest gaming market in the world, behind China, with around 442 million gamers. Over the recent five years, the sector has attracted $2.8 billion in investments from domestic and global investors.
As reported by ET, In August 2023, PUBG aka BGMI game developer Krafton invested approximately $140 million in Indian gaming and content ventures such as World Cricket Championship creators Nazara Technologies, Esports Media company Nodwin Gaming, Audiobook company KukuFM, and streaming platform Loco. Krafton also said to invest $150 million in Indian startups in upcoming years.
According to the report, the real money gaming Indian sector has played a pivotal role in gaming market growth.
Real money gaming generates 83-84% of the revenue, with approximately 100 million daily online gamers, including 90 million paying users. An increase in game downloads has fueled this growth, rising from 5.65 billion to 9.5 billion, which positions India as responsible for 16% of global gaming downloads.
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