Why the gaming industry is gung-ho about Budget 2022-23

Sai Srinivas, Co-Founder and CEO, Mobile Premier League (MPL):

“It is very encouraging to see that the Union Budget has taken into consideration some of the long-pending suggestions for the Animation, Visual Effects, Gaming, and Comics (AVGC) sector, while noting the strong potential this industry holds for employment-generation as well as taking ‘Made in India’ game titles global.

We welcome the Hon’ble Finance Minister’s announcement to set up an AVGC Promotion Task Force to provide a much-needed boost to the sector. This announcement highlights the need to build capacity to serve both domestic and global markets, and is a strong indicator of the impetus that the government is willing to provide for its growth. It is also heartening to see the government's commitment to work with the industry, allowing for a balanced approach that accommodates the needs of all stakeholders and strengthens the ecosystem holistically.

A progressive tax regime, predictable regulatory framework and supportive funding policies will allow the industry to compete on the world stage and fulfil the Hon’ble Prime Minister’s vision for the Indian digital gaming sector to be a global powerhouse. Moreover, it will also help develop a workforce of young and employable AVGC professionals to usher in the next tech revolution from within India.

The Budget rightly mentions that promoting the digital economy and sunrise sectors will be a priority in the next 25 years (75 to 100 years of India’s Independence)—the Amrit Kaal of India. With a renewed focus on the AVGC sector, blended financing for deep tech and IT, hardware and electronics manufacturing combined with deployment of 5G and affordable internet in underserved areas, it is clear that the government is committed to take the Indian startup ecosystem to the next level.

We are hopeful that with the positive support of the government, the coming years will see online gaming, VFX and esports start-ups leading the charge in the global economy. By developing deep tech intellectual property and exporting services, they can help cement India’s position as a world leader in the sector.”

Dilsher Singh Malhi, Founder & CEO, Zupee:

“We welcome the Union Budget 2022 and congratulate Hon’ble Finance Minister, Smt Nirmala Sitharaman, for presenting a progressive budget that sets a strong foundation for India at 100. The digital technologies and allied sectors are elated about the announcement that 5G will be rolled out this year as it opens up massive opportunities for gaming, education, entertainment, and other sectors. For gaming companies, many of which are homegrown start-ups, the extension of the existing tax benefits from three to four years will further accelerate growth in the sunrise sector.

The industry, which is already expected to have 657 million users by 2025, should now look to break the billion-user barrier by 2030. We are happy to learn that the Government of India and the Ministry of Finance understand the tremendous employment and revenue generation potential that the animation, visual effects, gaming, and comic (AVGC) sector has. The creation of the AVGC promotion task force is a welcome move. The initiative with industry participation will help in establishing uniform, progressive policies that will promote growth and investments in the sector, which in turn, will lead to job creation, revenue generation, and engagement opportunities. This will be a crucial step towards bridging the digital divide and unlocking a fully connected and empowered digital India. We believe that this initiative will pave the way for the Indian gaming industry to establish itself on a global stage.”

Anwar Shirpurwala, CEO, Federation of Indian Fantasy Sports (FIFS):

“The decision to set up an AVGC task force comes as a welcome move for the industry that is filled with the potential to create massive opportunities for India's youth. The steps announced to build a domestic capacity for the gaming sector will fuel the industry’s capabilities as a major employment generator and a sunrise sector. Further, the decision to extend tax incentives for startups only builds up our hopes for the startups in the online fantasy sports sector.”

Piyush Kumar, Founder & CEO, Rooter, India’s leading Game Streaming and Esports platform:

“A large part of the creator economy in India is driven around the AVGC category. Gaming particularly is stated to be torchbearer of the opportunity creation sector with hundreds of platforms and millions of jobs being created around it. We, at Rooter, are excited to be in the middle of this affirmation from the Honorable Minister of Finance and would love to work closely with them to build this sector. This sector will also drive a lot of investment in India from global players and we want to help stakeholders build strong thesis and pitch around it.”

Vaibhav Odhekar, Co-Founder & COO, POKKT:

“The Indian gaming industry is growing at an exponential scale and giving the long-due recognition to the Animation, Visual Effects, Gaming and Comic (AVGC) sector is a welcoming move. We believe this proposed move of creating a new task force will entice young professionals, creating job opportunities and drive economic growth. The initiatives proposed are steps in the right direction, however, we will wait for concrete steps to be taken by the government.”

Harsh Jain, CEO and Co-Founder, Dream11 and Dream Sports:

“We welcome the budget's focus on promoting start-ups and giving impetus to the Digital Economy. Our aim at Dream Sports is to keep growing India’s digital sports tech ecosystem to become the largest in the world, just like the Indian Fantasy Sports industry has become the world’s largest with 12 crore users.

The task force for promoting the Animation, Visual Effects, Gaming and Comic (AVGC) sector will provide the much needed clarity and certainty for the Fantasy Sports and Esports sectors by providing more upskilling and career opportunities for the youth to be a part of India's sunshine sectors.  

The rollout of 5G services will further accelerate the adoption of online sports engagement platforms and promote investments, innovation and wealth creation, while contributing to the Hon'ble Prime Minister’s vision of making India a sporting superpower both in the real and digital worlds.”

Sumit Jha, Founder, Fantasy Akhada:

“This year’s budget seems holistic and promising with an extension of forward-looking government schemes. It is encouraging to see the special mention of the AVGC segment this year. We also applaud FM’s proposal for The AICTE’s responsibility to curate syllabi for urban planning courses, which will further support the youth and strengthen the AVGC ecosystem in India. It is a great move to tap the industry’s booming demand globally. Also, the initiative to set up an AVGC specific task force will help bolster our domestic capacity, helping us to meet the burgeoning market demands on a national and an international level. We are very optimistic about the focus on innovation and we firmly believe that the AVGC Task Force will seek recommendations on the way forward.

The growth of digital adoption and the role of new age technologies in accelerating AVGC in Digital India will give importance to greater drive on digital skills and better practices to give rise to highly innovative gaming platforms. This sector will also be booming for the people who are taking gaming & tech as a career opportunity.”

Lokesh Suji, Director, Esports Federation of India & Vice President of the Asian Esports Federation (AESF):