The online gaming industry in India has seen remarkable growth in recent years, having clocked a CAGR of 28% to a value over Rs 16,000 crore in FY23. It is expected to cross Rs 33,000 by FY28, with a CAGR of 15%. The industry has been a major contributor to job creation, technological innovation, and foreign investments, having attracted close to Rs 23,000 core in funding over the last five years.
The industry, despite its potential, faces concerns about illegal offshore betting operators, money laundering, and addiction. Despite lack of evidence, there is a perception of apprehension and apprehension in the sector.
The gaming industry can effectively combat excessive gameplay and money laundering concerns by leveraging technology. Collaboration between industry, government, and society can lead to a responsible and thriving gaming industry, ensuring a safer and more responsible gaming experience.