India now has 442 million online gamers, exceeds count in China: Study

The study revealed that the gaming industry will be worth Rs 25,300 crore by the end of the financial year, surging at 20 per cent year-on-year

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Data Intelligence Team
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A code of conduct is essential to handle issues such as financial uncertainties, cyber security and regulatory framework

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India now has 442 million online gamers, exceeding the count in China, a study by E-Gaming Federation (EGF) in association with the consultancy firm Grant Thornton Bharat said.

The study also revealed that the gaming industry will be worth Rs 25,300 crore by the end of the ongoing financial year, surging at an estimated rate of 20 per cent on a year-on-year basis. A report titled Guardians Of Safe Play: Ethical Gaming For Vibrant Bharat, which is based on the study, underlined the boom in the gaming industry saying it has garnered investment worth $2.8 billion from investors in India and abroad over the past five years.

A code of conduct was necessary in the gaming industry, the report pointed out, in order to maintain development and sustainability of the gaming industry. Such a code would also be significant in handling issues such as financial uncertainties, cyber security and regulatory framework, besides upholding essential business ethics. Third-party certification has become important, according to the report, if self-regulation is to be maintained as a norm in the industry.

“The way forward involves embracing modern regulatory frameworks, enhancing player protection measures, and promoting ethical standards. By adopting these solutions, India can ensure the long-term growth and integrity of its gaming industry, positioning itself as a global leader in ethical gaming practices,” the report said.

Eleven gaming and content ventures in India attracted a total investment of around $140 million from the South Korean developer Krafton, according to a report in The Economic Times last August. Krafton had revealed that it would pump in $150 million over the next three years or so. The newspaper also noted that the listed gaming firm Nazara Technologies raised Rs 760 crore drawing investment from SBI Mutual Fund, ICICI Prudential Mutual Fund, Plutus Wealth Management and Zerodha cofounder Nikhil Kamath.

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