India’s digital landscape is undergoing a significant transformation, driven by the skyrocketing popularity of online interactive skill gaming. Recently, Indian storytelling through gaming has emerged as a new trend, offering a wide variety of stories drawn from mythology, cultural heritage, folklore, history and contemporary issues.
By integrating authentic narratives and engaging gameplay, Indian storytelling in gaming not only celebrates the country’s heritage but also contributes to the creation of new jobs and Economic Development In the gaming industry. What was once considered mere entertainment has evolved into a force capable of reshaping India’s economic and social dynamics. online gaming Fostering vibrant communities, transcending demographic and geographic boundaries and reflecting the evolving nature of human interaction in the digital age. It enables better accessibility through mobile smart phones and is helpful in bridging the digital divide. Beyond pixels and dots lies a deeper aspect of social engagement and belonging, which not only enhances the gaming experience but also reflects the changing dynamics of human interaction in today’s society. It acquires knowledge of aspects of the game, cognitive skills, team building and strategy making in a fun way.
India has one of the largest gaming communities globally, the significant increase in popularity of online gaming marks a transformational shift in entertainment consumption patterns. However, the impact of online gaming in India extends far beyond mere entertainment. Economically, it acts as a powerful catalyst for job creation and technological advancement.
opportunities galore
The growing ecosystem of game development, ranging from indie studios to large enterprises, represents an attractive career opportunity as India strengthens its position in the global online gaming market. Job options include UI/UX designers, game developers, data engineers, 2D/3D artists, and other roles. This emerging industry holds the key to opening new avenues of economic growth and leisure, creating employment opportunities for over one lakh persons with the potential to expand to 250,000. employment opportunities By 2025.
Opportunities abound in the online gaming sector across various domains including game development, e-sports management, marketing and even cyber security. This surge in employment prospects drives innovation and enhances India’s digital power, contributing to the growth of emerging sectors such as fintech, cloud services, data analytics, AI and cyber security.
Furthermore, the employment potential of India’s online gaming industry extends beyond urban centres, to smaller towns and rural areas. Aspiring game developers now have avenues to showcase their talents, leading to the rise of small-scale game development studios in towns and rural areas, providing employment opportunities to local talent.
Culturally relevant sports are emerging from these regions, reflecting the diversity and richness of India’s cultural tapestry. For example, game development studios have emerged in Goa, Manipal, Surat and elsewhere, producing games that are popular with local audiences as well as attracting global markets. This has resulted in characters becoming recognizable in a social context and even reaching gaming barriers. Additionally, the industry demand for various IT-related roles, customer support, community management, content creation and event management opens doors for individuals in small towns, providing them opportunities for employment and economic empowerment.
Balancing fiscal and employment interests
Promoting and supporting Indian start-ups while addressing concerns regarding the proliferation of illegal offshore gambling platforms is key to boosting employment growth in the sector. The government must strike a delicate balance between promoting growth and ensuring a safe gaming experience.
Last year, the sector suffered a major setback due to the imposition of 28% GST on deposits. As a result, many smaller players closed their businesses, unicorns resorted to layoffs, investors revised growth estimates and FDI (foreign direct investment) in India was adversely impacted. These changes have set the industry back and killed many startups and innovative models in online gaming. The funds paid to be distributed to the winners are not goods and services. The gaming operator must keep it in a separate escrow account from the developer and operating platform fees.
EY’s report titled ‘New Frontiers: Navigating the emerging landscape for online gaming in India’ (December 2023) has also projected a very low CAGR of 15% till FY28. The 28% GST on deposits is the world’s toughest regime, which could wipe out $2.5 billion of existing investments and more than 50,000 high-skilled jobs. While taking the decision on GST for online gaming, the GST Council said that it will review the decision at the end of six months starting from 01 October 2023. It is important that when the GST Council convenes to discuss this issue, the harsh realities affecting the sector are addressed. Revisions in GST rates are understood, examined and appropriate rates are prepared. A good balance is required between growth of the region and national interest.
It is important for the government to recognize the legal difference between games of skill and games of chance and design the taxation structure accordingly, rather than lumping together games of skill and chance for taxation purposes. Similarly, complete clarity on what will be taxed in GST and direct taxes. Responsibly embracing this digital wave opens up immense opportunities, especially employment opportunities. India can become a global center of gaming excellence, attracting talent and investment while fostering a vibrant social and economic ecosystem.
Overall, India’s online gaming industry not only revolutionizes entertainment but also holds immense potential for economic growth social development, By leveraging technology, creativity and entrepreneurial spirit, India can harness the full potential of this emerging sector, unlocking opportunities for all and paving the way towards a brighter, more inclusive future. digital future,
Imagine a future where Indian creativity shines through innovative games, where communities grow virtually and physically, and where our country takes center stage on the global digital stage. It is a win-win situation for startups, employment generation, tools for learning and bridging the digital divide, entertainment, with the need to ensure a code of conduct framed by the SRO for responsible gaming and no misleading advertising.
By: Aruna Sharma, Practitioner Development Economist and Retired Secondary School
By integrating authentic narratives and engaging gameplay, Indian storytelling in gaming not only celebrates the country’s heritage but also contributes to the creation of new jobs and Economic Development In the gaming industry. What was once considered mere entertainment has evolved into a force capable of reshaping India’s economic and social dynamics. online gaming Fostering vibrant communities, transcending demographic and geographic boundaries and reflecting the evolving nature of human interaction in the digital age. It enables better accessibility through mobile smart phones and is helpful in bridging the digital divide. Beyond pixels and dots lies a deeper aspect of social engagement and belonging, which not only enhances the gaming experience but also reflects the changing dynamics of human interaction in today’s society. It acquires knowledge of aspects of the game, cognitive skills, team building and strategy making in a fun way.
India has one of the largest gaming communities globally, the significant increase in popularity of online gaming marks a transformational shift in entertainment consumption patterns. However, the impact of online gaming in India extends far beyond mere entertainment. Economically, it acts as a powerful catalyst for job creation and technological advancement.
opportunities galore
The growing ecosystem of game development, ranging from indie studios to large enterprises, represents an attractive career opportunity as India strengthens its position in the global online gaming market. Job options include UI/UX designers, game developers, data engineers, 2D/3D artists, and other roles. This emerging industry holds the key to opening new avenues of economic growth and leisure, creating employment opportunities for over one lakh persons with the potential to expand to 250,000. employment opportunities By 2025.
Opportunities abound in the online gaming sector across various domains including game development, e-sports management, marketing and even cyber security. This surge in employment prospects drives innovation and enhances India’s digital power, contributing to the growth of emerging sectors such as fintech, cloud services, data analytics, AI and cyber security.
Furthermore, the employment potential of India’s online gaming industry extends beyond urban centres, to smaller towns and rural areas. Aspiring game developers now have avenues to showcase their talents, leading to the rise of small-scale game development studios in towns and rural areas, providing employment opportunities to local talent.
Culturally relevant sports are emerging from these regions, reflecting the diversity and richness of India’s cultural tapestry. For example, game development studios have emerged in Goa, Manipal, Surat and elsewhere, producing games that are popular with local audiences as well as attracting global markets. This has resulted in characters becoming recognizable in a social context and even reaching gaming barriers. Additionally, the industry demand for various IT-related roles, customer support, community management, content creation and event management opens doors for individuals in small towns, providing them opportunities for employment and economic empowerment.
Balancing fiscal and employment interests
Promoting and supporting Indian start-ups while addressing concerns regarding the proliferation of illegal offshore gambling platforms is key to boosting employment growth in the sector. The government must strike a delicate balance between promoting growth and ensuring a safe gaming experience.
Last year, the sector suffered a major setback due to the imposition of 28% GST on deposits. As a result, many smaller players closed their businesses, unicorns resorted to layoffs, investors revised growth estimates and FDI (foreign direct investment) in India was adversely impacted. These changes have set the industry back and killed many startups and innovative models in online gaming. The funds paid to be distributed to the winners are not goods and services. The gaming operator must keep it in a separate escrow account from the developer and operating platform fees.
EY’s report titled ‘New Frontiers: Navigating the emerging landscape for online gaming in India’ (December 2023) has also projected a very low CAGR of 15% till FY28. The 28% GST on deposits is the world’s toughest regime, which could wipe out $2.5 billion of existing investments and more than 50,000 high-skilled jobs. While taking the decision on GST for online gaming, the GST Council said that it will review the decision at the end of six months starting from 01 October 2023. It is important that when the GST Council convenes to discuss this issue, the harsh realities affecting the sector are addressed. Revisions in GST rates are understood, examined and appropriate rates are prepared. A good balance is required between growth of the region and national interest.
It is important for the government to recognize the legal difference between games of skill and games of chance and design the taxation structure accordingly, rather than lumping together games of skill and chance for taxation purposes. Similarly, complete clarity on what will be taxed in GST and direct taxes. Responsibly embracing this digital wave opens up immense opportunities, especially employment opportunities. India can become a global center of gaming excellence, attracting talent and investment while fostering a vibrant social and economic ecosystem.
Overall, India’s online gaming industry not only revolutionizes entertainment but also holds immense potential for economic growth social development, By leveraging technology, creativity and entrepreneurial spirit, India can harness the full potential of this emerging sector, unlocking opportunities for all and paving the way towards a brighter, more inclusive future. digital future,
Imagine a future where Indian creativity shines through innovative games, where communities grow virtually and physically, and where our country takes center stage on the global digital stage. It is a win-win situation for startups, employment generation, tools for learning and bridging the digital divide, entertainment, with the need to ensure a code of conduct framed by the SRO for responsible gaming and no misleading advertising.
By: Aruna Sharma, Practitioner Development Economist and Retired Secondary School
