E-Gaming Federation Highlights Growth Potential and Calls for Clarity in India’s Online Gaming Sector
Anuraag Saxena: India’s Online Gaming Industry on the Brink of Global Leadership
EGF CEO Anuraag Saxena Calls for Clear Legal Framework to Support Skill-Based Gaming Growth
BILKULONLINE
By Rafat Quadri
Ahmedabad, Nov 9: India, home to over 40% of the world’s gamers, is on the cusp of becoming a global leader in the online gaming industry. Despite its immense gaming user base, the country contributes only 1% to global gaming revenue, underscoring the significant economic potential yet to be tapped.
To address this and clarify the role of online gaming in India’s economic growth, the E-Gaming Federation (EGF), the leading industry body for skill gaming in India, recently hosted a roundtable in Ahmedabad, shedding light on the sector’s rapid rise and addressing critical misconceptions.
The Indian gaming industry has witnessed exponential growth, with projections estimating its value will soar from $3.1 billion to $8.92 billion in the next five years. According to a joint report by Grant Thornton Bharat and the E-Gaming Federation, the sector saw a remarkable 20-fold increase in workforce growth from 2018 to 2023. Despite these advances, the online gaming industry continues to grapple with misconceptions that associate skill-based gaming with gambling, a challenge that the EGF is committed to addressing through awareness and regulatory efforts.
In a statement during the event, Anuraag Saxena, CEO of the EGF, emphasized the importance of distinguishing between skill-based gaming and illegal offshore gambling platforms. He called for informed discussions that focus on creating a thriving and responsible gaming environment in India. “The online gaming industry represents a new frontier in technology and job creation. During the 78th Independence Day speech, Hon’ble Prime Minister Narendra Modi highlighted the immense potential of this sector to drive technological innovation, skill development, and economic growth. His words inspired a new chapter for India’s gaming industry,” said Anuraag Saxena.
With over 442 million gamers, India is primed to take a leading role in the global gaming market. Saxena further highlighted, “We are on the brink of global leadership in gaming. EGF is committed to turning this vision into reality by fostering a safe, well-regulated environment for responsible, skill-based gaming to thrive in India.”
His colleague, Amit Sharma, was also present at the event.
The need for a clear legal framework for online gaming has become more urgent. A recent report by Gujarat National Law University (GNLU), titled ‘Evaluating Blanket Bans and Mandatory Limits in Gaming’, advocates for a unified legal framework and the establishment of a dedicated regulatory body. The report highlights the importance of user education, minimizing risks, and ensuring industry standards that promote responsible gaming practices.
The EGF has also introduced a self-regulation initiative, creating a code of conduct for its members to follow in order to ensure the smooth functioning of the online gaming ecosystem. As the unified voice of India’s gaming industry, EGF represents top-tier developers and operators, including a gaming Unicorn.
India’s online gaming sector has already demonstrated its ability to grow rapidly, and with the support of the EGF, it is positioned to make an even greater impact in the coming years. As the industry continues to evolve, it is clear that gaming will play a pivotal role in shaping India’s future in both the technological and economic spheres.
In an exclusive conversation with BILKULONLINE Anuraag Saxena, CEO of the E-Gaming Federation, shared valuable insights about the vital role of EGF in India’s online gaming landscape. Listen in as he discusses how EGF is shaping a responsible, well-regulated gaming ecosystem, supporting the industry’s growth, and addressing key misconceptions about online gaming. BILKULONLINE You Tube Channel link is shared below . Kindly Like and Subscribe it.
https://www.youtube.com/watch?v=6ocUNRr9SyI&feature=youtu.be
(Rafat Quadri can be contacted at editorbilkul@gmail.com)
