Online gaming grows in India
A new report reveals that the online gaming industry is set to experience a significant growth in India.
India.- KPMG released a report where it’s detailed that the gaming industry in India is estimated at US$60 billion annually. Online gaming is set to rise this figure whilst the sector is still waiting to be fully legalised and regulated in the country.
Whilst the Entry 34 on list II of the Seventh Schedule considers betting and gambling in the Constitution, there are still differences when it comes to regulating the gaming industry in the country. The Public Gambling Act 1867 prohibits gaming, but several states in India decided to enact their own provisions: most states exclude games of skill from being categorised as gambling.
In the last few months the Law Commission of India was asked to comment on the state of a law that includes the gaming sector. Chairman Balbir Singh Chauhan said that the government could earn as much as US$2.6 billion every year in tax revenue. Back in December, the Nagaland government announced the launching of its first game of skill license by implementing the recent Nagaland Prohibition of Gambling and Promotion and Regulation of Online Games of Skill Act 2016.
Furthermore, Nazara Games, a mobile game developer announced in February its intentions to invest US$20 million over five years in esports. The Mumbai company will create a new esports league that will include the most popular games.
