Experts opine that the global gaming industry is a big market of USD 200 billion, with India making up 17-20% of the world's gamers. According to the Indian Digital Gaming Society, India holds great potential in digital gaming. Unlocking this potential into building a thriving and sustainable industry should, therefore, be considered a collective goal.
According to Rajan Navani, IDGS President, what the Indian gaming industry really needs is more capabilities and skill sets. He said huge investments in technology and infrastructure are necessary to facilitate such an expansion of this sector.
The PM's recent interaction with young gamers has signaled that the gaming scenario was getting very important for India. The government had started taking it as serious talent, just like other sports.
The Ministry of Information and Broadcasting is likely to host the AVGC summit, a summit on audio-video gaming and comics. Another special feature of the event is its focal point on gaming.
"E-sports is an ever-changing industry, and with its increasing global recognition, it could get part of the Olympics, which would be really huge for the esports community," said Sean Hyunil Sohn, Vice President of IDGS.
"It is this rich cultural heritage combined with its rapidly advancing tech ecosystem that uniquely positions India to make impactful contributions to the global gaming arena," Sohn commented. The creation of an enabling environment that spurs innovation and growth was also put forward at the summit.
A recent report revealed that the workforce in India's online gaming sector has grown manifold 20 times over the 5-year period from 2018 to 2023, recording an incredible CAGR of 97.56% during this period.
A report by the EGROW Foundation, in collaboration with Primus Partners, has put the number of the online gaming industry to be one of the largest employment generators in the years to come. It accounted for 41% of the AVGC industry in 2019 and is expected to grow to an impressive 68% by 2026.
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