Podcast
Questions and Answers
What is a significant advantage India has in the gaming landscape compared to PC and console gaming?
What is a significant advantage India has in the gaming landscape compared to PC and console gaming?
Why are game developers in India focusing on mobile gaming?
Why are game developers in India focusing on mobile gaming?
What does the gaming demographic in India primarily consist of?
What does the gaming demographic in India primarily consist of?
What trend is depicted in the growth of the gaming markets in India compared to the U.S. and China?
What trend is depicted in the growth of the gaming markets in India compared to the U.S. and China?
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As of FY23, how many gamers does India have?
As of FY23, how many gamers does India have?
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What is a vital aspect of game development that involves multiple disciplines?
What is a vital aspect of game development that involves multiple disciplines?
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Which of the following technologies is essential for modern game development?
Which of the following technologies is essential for modern game development?
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Which area is NOT directly mentioned as a key skill in demand for the gaming industry?
Which area is NOT directly mentioned as a key skill in demand for the gaming industry?
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How does online gaming impact employment within the tech sector?
How does online gaming impact employment within the tech sector?
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Which technology is NOT listed as part of the integration in game development?
Which technology is NOT listed as part of the integration in game development?
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What is the primary goal of the Indian government's new gaming regulations?
What is the primary goal of the Indian government's new gaming regulations?
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What percentage of global mobile game downloads does India account for in 2023?
What percentage of global mobile game downloads does India account for in 2023?
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What is the UPI transaction volume reported for India in FY23?
What is the UPI transaction volume reported for India in FY23?
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How many mobile game downloads occurred in India in 2023?
How many mobile game downloads occurred in India in 2023?
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What is one of the aims of India's push for a cashless economy linked to the gaming sector?
What is one of the aims of India's push for a cashless economy linked to the gaming sector?
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What is the expected number of job opportunities in the online gaming sector by 2025?
What is the expected number of job opportunities in the online gaming sector by 2025?
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What percentage of the market share does the real money gaming (RMG) sub-segment hold?
What percentage of the market share does the real money gaming (RMG) sub-segment hold?
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What is the range of direct tax revenue estimated to be contributed by the RMG sub-segment for FY24?
What is the range of direct tax revenue estimated to be contributed by the RMG sub-segment for FY24?
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What major change was made regarding GST on actionable claims from RMG platforms in August 2023?
What major change was made regarding GST on actionable claims from RMG platforms in August 2023?
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Which document or rules are mentioned as progressive for online gaming by the Ministry of Electronics and Information Technology?
Which document or rules are mentioned as progressive for online gaming by the Ministry of Electronics and Information Technology?
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What are some strategies that online gaming platforms are reevaluating due to GST amendments?
What are some strategies that online gaming platforms are reevaluating due to GST amendments?
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How many RMG start-ups are estimated to exist within the online gaming ecosystem?
How many RMG start-ups are estimated to exist within the online gaming ecosystem?
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What is the estimated range of indirect tax revenue generated by the RMG sub-segment during FY24−28E?
What is the estimated range of indirect tax revenue generated by the RMG sub-segment during FY24−28E?
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What is the total estimated prospective investment in the gaming sector over the next 3–4 years?
What is the total estimated prospective investment in the gaming sector over the next 3–4 years?
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What major concern did investors express in their letter to the Prime Minister’s Office regarding the TDS amendments?
What major concern did investors express in their letter to the Prime Minister’s Office regarding the TDS amendments?
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How will the TDS on net winnings be computed under the new guidelines?
How will the TDS on net winnings be computed under the new guidelines?
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What impact is anticipated on the E-sports and non-RMG segments due to the amendments?
What impact is anticipated on the E-sports and non-RMG segments due to the amendments?
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What threshold for TDS has been removed with the amendment?
What threshold for TDS has been removed with the amendment?
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What is the overall goal of the TDS amendments as described?
What is the overall goal of the TDS amendments as described?
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Which type of games does the union government distinguish for the purpose of TDS?
Which type of games does the union government distinguish for the purpose of TDS?
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What benefit does the 'net winnings' approach provide to players?
What benefit does the 'net winnings' approach provide to players?
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What does the AVGC taskforce report specifically advocate for to support the gaming sector?
What does the AVGC taskforce report specifically advocate for to support the gaming sector?
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How are online gaming companies responding to the GST amendments?
How are online gaming companies responding to the GST amendments?
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What is a potential outcome mentioned regarding the online gaming industry due to the recent amendments?
What is a potential outcome mentioned regarding the online gaming industry due to the recent amendments?
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What aspect is identified as pivotal for the growth of the AVGC sectors?
What aspect is identified as pivotal for the growth of the AVGC sectors?
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What does the GST amendment potentially impact for gaming companies?
What does the GST amendment potentially impact for gaming companies?
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What kind of adjustments are necessary for online gaming platforms according to the discussion on sustainability?
What kind of adjustments are necessary for online gaming platforms according to the discussion on sustainability?
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What is a challenge mentioned that gaming platforms may face post-GST amendment?
What is a challenge mentioned that gaming platforms may face post-GST amendment?
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What is the approximate number of online gaming platforms mentioned in India?
What is the approximate number of online gaming platforms mentioned in India?
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Study Notes
Executive Summary
- Online gaming in India has seen significant growth, reaching INR16,428 crore in FY23.
- The CAGR between FY20 and FY23 was 28%.
- Industry estimates project INR33,243 crore by FY28E, with a 15% CAGR.
- The segment has attracted INR22,931 crore in investment between FY20 and FY24 YTD.
- The segment directly and indirectly employs approximately one lakh individuals, projected to expand to 250,000 by 2025.
Factsheet
- India's population is the second largest globally, with 65% under 35 years of age.
- Internet users in FY23: 78 crore.
- Smartphone users in FY23: 54.8 crore.
- Online gamers in FY23: 42.5 crore.
- Average time spent per active user on gaming weekly: 10-12 hours.
- Online gaming market size in FY23: INR16,428 crore.
- Investment between FY20 and FY24 YTD: INR22,931 crore.
- Online gaming start-ups in FY23: 1,400.
- Gaming apps downloaded in FY23: 430 crore.
- Employees in the gaming industry in FY23: 100,000.
- Game developers and programmers: 15,000.
India's Thriving Online Gaming Landscape
- Online gaming has emerged as a significant sector in India's media and entertainment industry.
- Smartphone penetration, enhanced internet connectivity, and a burgeoning youth population have propelled this growth.
New Regulatory Framework and Tax Regime in India and its Impact
- The April 2023 introduction of new online gaming rules aimed to clarify the legal status of various online gaming formats.
- The rules seek to differentiate games of skill from games of chance and regulate real money games (RMG).
- Key issues include the establishment of self-regulatory bodies (SRBs) for verification and taxation, as outlined in the Online Gaming Rules.
International Standards for Regulating and Taxing Online Gaming
- Worldwide, varying approaches exist for regulating and taxing online gaming, with some countries adopting a Gross Gaming Revenue (GGR) tax model and others a turnover tax model.
Charting a Path Forward: Building a Sustainable Future for India's Online Gaming Segment
- Key challenges include navigating the new regulatory framework, managing user safety and financial risks, and adapting to tax implications.
- Companies may consider cost rationalization, geographical diversification, product innovation, and responsible gaming initiatives to sustain and thrive.
Synthesizing Insights and Concluding Reflections
- The Indian online gaming segment exhibits remarkable growth potential but faces challenges around regulatory compliance and responsible gaming.
- Key elements for a sustainable future of the segment include strong self-regulation in addition to government support for innovation and addressing the complexities of taxation.
Glossary
- Terms related to online gaming, regulations, and economic factors are defined in the glossary.
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Description
Test your knowledge about the booming gaming industry in India. This quiz covers the significant trends, demographics, and technologies involved in mobile gaming. Explore how India's gaming landscape compares to global standards and what skills are in demand within this vibrant sector.
