India’s gaming market has been steadily growing, with Prime Minister Narendra Modi highlighting the potential for leadership and innovation in the industry during his recent Independence Day address. With 442 million gamers, India is the second-largest gaming market in the world behind China. However, when it comes to games developed in India for global gamers, there are few major titles.
PM Modi emphasized the importance of India leveraging its talent and heritage in the gaming sector. He stated, “India has a big heritage in the area, and we can bring lots of new talent to the world of gaming.” This call to action resonated with many gaming analysts and companies in the country.
Anuraag Saxena, CEO of the E-Gaming Federation (EGF), pointed out that India has about 40 percent of the world’s games but generates less than 1 percent of gaming revenues. He stressed the need for building a stronger foundation of talent and skills in the industry. Premier institutes like IIMs and IITs should focus on curriculums that align with future skills to propel India’s gaming industry forward.
### India’s ‘AAA’ Moment
After years of working for US-based studios and other global majors, Indian gaming studios are finally making strides in developing their own AAA games—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.
Alok Kejriwal, co-founder and CEO of Games2win, highlighted the lucrative opportunity for Indian studios to create products for the global market. He emphasized the importance of exporting games made in India to the world. Companies like SuperGaming and Mayhem Studios are already working on big-budget titles, with SuperGaming’s Indus Battle Royale garnering 12 million pre-registrations on Google Play.
Other emerging studios, such as LightFury Games, have secured significant funding to produce AAA titles. The Indian government’s recent push for local game development is seen as a crucial step in bridging the gap between foreign and homegrown games, according to Shiva Nandy, founder and CEO of e-sports firm Skyesports.
### Job Creation and Economic Growth
The Indian gaming industry is projected to grow to $8.92 billion in the next five years, creating significant job opportunities for game developers and programmers. The industry currently employs around 15,000 professionals, with a workforce growth rate of 97.56 percent from 2018 to 2023, according to a report by Primus Partners.
Roland Landers, CEO of the All India Gaming Federation (AIGF), believes that online gaming will play a crucial role in India’s $1 trillion digital economy. He envisions Indian developers making games for the global market, aligning with the government’s goals of fostering innovation and creating job opportunities.
Despite the potential for growth, mobile gaming still dominates the Indian market, accounting for up to 90 percent of total gaming revenue. Real-money games (RMG) like fantasy sports and rummy continue to be popular among Indian gamers, with the RMG sector comprising 83-84 percent of total gaming revenue.
### Challenges and Opportunities
While the gaming industry in India is ripe with talent and potential, funding remains a major challenge for many gaming firms. Developing AAA games is a capital-intensive process that requires significant investment. A lack of culture and respect for gaming in the country also poses a hurdle, as highlighted by Alok Kejriwal of Games2win.
Kejriwal noted, “Neither do we have a product culture in India nor an entertainment culture for gaming. Parents usually discourage their children from engaging in things like gaming and entertainment.” Changing these perceptions and fostering a supportive ecosystem for game developers is crucial for the industry to thrive.
In conclusion, India’s gaming market is poised for significant growth and innovation, with the government’s support and the efforts of local studios driving the industry forward. By harnessing India’s talent and heritage in gaming, the country has the potential to become a global leader in the sector. As job opportunities continue to expand and more studios focus on creating AAA titles, the future looks bright for India’s gaming industry.