PM Narendra Modi calls on India's gaming talent to lead the world

According to Anuraag Saxena, CEO of industry body E-Gaming Federation (EGF), India has about 40 per cent of the world's games, with less than 1 per cent of gaming revenues

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With 442 million gamers, India is the second-largest gaming market in the world behind China. Nevertheless, the country’s esports ecosystem lacks major titles.

India’s gaming sector is currently valued at around $3.1 billion.

Prime Minister Narendra Modi’s Independence Day address holds significance for game developers in the country.

“I am seeing a big market that has come up in the field of gaming, but even today, the gaming world has a big foreign impact in terms of producing the games and earning revenues. India has a big heritage in the area and we can bring lots of new talent to the world of gaming,” the PM said.

Several gaming analysts and companies agree with what the PM has said.

According to Anuraag Saxena, the chief executive officer (CEO) of industry body E-Gaming Federation (EGF), India has about 40 per cent of the world's games, cornering less than 1 per cent of the gaming revenues.

“We need to build a stronger foundation of talent and skills. Skilling is an integral part of India's AVGC policy. Premier institutes like IIMs and IITs should now look at curriculums and pedagogies that are oriented towards future skills, rather than skills of the past,” he said. 

After years of working for US-based studios and other global majors, the Indian gaming studios are finally taking steps to create India’s own AAA games/titles --- a classification that signifies high-budget, high-profile games typically distributed and produced by large publishers.

Popular AAA games include titles like Minecraft, GTA 5, Call of Duty, and Fortnite, among others.

 “The idea is that making products in India and selling them to the world is phenomenally lucrative. This (export) has been going on, but unfortunately, real money gaming has cornered most of the interest in India. But there are some purist studios around which are still pursuing this export idea, and we're one of them,” said Alok Kejriwal, co-founder and CEO, Games2win, a company developing casual games for mobile. 

Pune-based SuperGaming is another studio working on a big-budget title. The company recently rolled out the beta for its battle royale game Indus Battle Royale on Google Play for Android users, garnering an immense 12 million pre-registrations.

Similarly, Mayhem Studios, a Mobile Premier League (MPL)-backed game developer, announced the closed beta launch of its battle royale game Underworld Gang Wars (UGW) earlier this year. 

 Other emerging studios, such as LightFury Games, a promising new gaming startup that recently secured $8.5 million in funding, are also working on producing AAA titles. 

 “The market has been largely dominated by foreign titles due to a lack of homegrown games. The Indian government's recent push for local game development is a crucial step in bridging this gap,” said Shiva Nandy, founder and CEO of e-sports firm Skyesports. 

The Indian gaming industry is expected to grow to $8.92 billion in the next five years, says a recent report by Grant Thornton Bharat and the E-Gaming Federation. 

The other reason why the gaming sector found mention in the PM’s speech is its potential to create jobs. There are around 15,000 game developers and programmers in the country, and the industry remains a vital role in job creation. 

Workforce growth in the gaming sector has increased 20-fold from 2018 to 2023, with a remarkable 97.56 per cent compound annual growth rate (CAGR) over the same period, according to a report by Primus Partners. 

“We believe that online gaming will be the cornerstone of the $1 trillion digital economy. In the coming years, we expect to see many more Indian developers ‘Make in India for the world.’ This vision aligns with the government’s broader goals of fostering innovation, creating job opportunities, and positioning India as a leader in the global digital landscape,” said Roland Landers, CEO of industry body All India Gaming Federation.

HIGH STAKES
 

At 442 mn gamers, India is the 2nd largest gaming market in the world

$2.8 bn Raised by gaming sector in the last five years

9.5 bn Game downloads in last five years

90% Share of mobile gaming in online market

16% India’s share of global game downloads

Sources: Grant Thornton Bharat, EGF