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FICCI Gaming Committee stands by India’s booming online gaming market

FICCI Gaming Committee stands by India’s booming online gaming market
Photo Credit: Pixabay
18 Jan, 2022

The Federation of Indian Chambers of Commerce & Industry's (FICCI) Gaming Committee (FGC) has urged the government to regulate the online gaming sector instead of putting a blanket ban on it. The FGC’s statement came in response to Tamil Nadu Chief Minister MK Stalin’s recent announcement to ban online gaming in his state.  

 

The Committee urged the government to adopt an enabling gaming policy protecting players while ensuring a secure and responsible gaming environment.

 

In a statement, the FGC said that it is committed to supporting the government in establishing a safe gaming environment. 

 

The Committee also reiterated that blanket bans do not ensure player protection. 

In February last year, the state government amended the Tamil Nadu Gaming Act, 1930, banning online games in the state. Thereafter, the Madras High Court struck down the law in August 2021 citing multiple decisions taken by the Supreme Court in the past.   

 

Also read: 7 gaming trends to watch in 2022

According to FGC Convenor and All India Gaming Federation CEO Roland Landers, the growth of 27% CAGR generated by the online skill gaming industry in 2020 which made it the fastest-growing segment. “It is in the best interests of all concerned that the State Govt works with the skill gaming industry to build a robust regulatory framework to ensure all stakeholders across the ecosystem benefit economically and socially,” he said.

 

“Around 420 million players across the country enjoy online gaming as a form of entertainment. To ensure that these players’ experiences are safe, we request the government consider regulating this industry,” said FGC Convener and E-Gaming Federation CEO Sameer Barde.

  

As per a Sequoia India- BCG report titled ‘Mobile Gaming: $5B+ Market Opportunity’ released in November last year, the gaming sector in India, though smaller than the US and China is pegged at $1.5 billion (nearly 1% global share) and is projected treble in size to over $5 billion markets by 2025 on the back of the “mobile-first” phenomenon. The industry has been catalysed by better smartphones, increased internet access, popular titles, influencers, and the global pandemic, as per the same report.    

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