As the Union Budget for 2024-2025 approaches, the gaming sector is abuzz with anticipation and high hopes. Scheduled for unveiling on July 23, 2024, this budget comes at a crucial time for the industry, which has seen exponential growth and a surge in popularity over the past few years.
With advancements in technology, and a growing user base, the gaming industry is looking towards the government for policies and incentives that could further bolster its expansion.
A particularly bright spot within this sector is e-sports, which has experienced a meteoric rise amongst millions of enthusiasts and players across the country. Stakeholders are eager to see if the upcoming Union Budget will address key issues such as taxation, infrastructure development, and support for homegrown talent, specifically within the e-sports arena. They feel that the potential for India to become a global e-sports hub is immense, and industry leaders are calling for measures that will enhance training facilities, provide better internet infrastructure, and offer financial incentives for developers and players alike.
Akshat Rathee, Co-founder and MD of NODWIN Gaming says, "Gaming and esports have different needs and demands in the budget. With esports now under national and international sports federations, esports would benefit from increased investment in the sports budget and inclusion in national games such as Khelo India.”
According to Rathee, gaming will benefit from the allocation of budgets for centres of excellence under the AVGC policy of India where game development and associated businesses can create jobs and increase India's soft power in content for the youth worldwide.
Vishal Parekh, Chief Operating Officer, CyberPowerPC India, added that the gaming and esports sectors hold immense potential for career opportunities for the youth. “This in turn encourages more investments in digital infrastructure, such as faster internet connectivity and wider broadband penetration. This will be crucial in ensuring that gamers across the country have access to seamless and immersive gaming experiences,” Parekh opines.
He also feels that the government can further fuel the gaming hardware industry by introducing subsidies for research and development in gaming technology and establishing special economic zones dedicated to the production of PC gaming equipment. “Additionally, we look forward to initiatives that promote skill development and foster innovation in the gaming sector, enabling India to become a global hub for gaming talent and technology,” he said.
Roby John, CEO and Co-Founder – SuperGaming, echoes a similar sentiment about e-sports, and mentions that the video gaming and esports industry holds high expectations for policies that will bolster economic growth and innovation in India. “The gaming sector has seen exponential growth, driven by a young, tech-savvy population. We hope the upcoming budget will recognize this potential and introduce measures that support game development, infrastructure, and talent development,” John added.
He also mentioned that tax incentives for developers, investment in infrastructure, and support for local studios can position India as a global gaming leader.
To surmise, the community's expectations are soaring, and the upcoming budget holds the potential to either propel the industry to new heights or impose challenges that could hinder its progress. As the countdown to the budget announcement begins, all eyes are on the government to see how it will shape the future of gaming and e-sports in India.
