What does the gaming industry expect from the annual budget?

New Delhi: Finance Minister Nirmala Sitharaman presented the interim budget on February 1 and will present the annual budget on July 23, 2024. 

The incumbent players in the gaming industry hold high expectations for policies that will bolster economic growth and innovation in India while simultaneously producing quality gaming content and services for users worldwide. 

Hopes are high and fingers are crossed as the industry wishes to see policies that encourage domestic manufacturing of gaming hardware, provide incentives for local production, and reduce import duties on essential components. This would ensure that gamers are equipped with advanced gear.

Sharing his viewpoint on the budget  Akshat Rathee, Co-founder and MD of NODWIN Gaming, said, "With esports now under national and international sports federations, esports would benefit from an increased investment in the sports budget and inclusion in national games such as Khelo India. Esports has the potential of winning India medals in international sports competitions. Gaming would 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." 

Meanwhile, Roby John, CEO and Co-Founder of SuperGaming, added, "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 tax incentives for developers, investment in infrastructure, and support for local studios can position India as a global gaming leader. The gaming community looks forward to a budget that acknowledges our contribution to the economy and supports our growth trajectory."

As Vishal Parekh, Chief Operating Officer, CyberPowerPC India, perceives it, “We hope to see policies that encourage domestic manufacturing of gaming hardware, provide incentives for local production, and reduce import duties on essential components. This would ensure that our gamers are equipped with advanced gear.”

Adding more to the bandwagon of opinions, he said, “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. 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.”

Parekh also went on to state that he looks 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. 

Roland Landers, CEO, All India Gaming Federation, said, “AIGF is determined to implement the Hon’ble Prime Minister’s vision for the online gaming sector through the continued expansion and transformation of this industry in India. To make India a game development hub and take “Make in India” games to the world, we look forward to substantial budgetary allocations being made under the AVGC fund which are aligned with the recommendations of the AVGC Task Force. There is also a need to institute and promote skill building and educational programmes which will nurture the next generation of game developers and professionals. Additionally, we anticipate long-term clarity and a progressive taxation regime for the skill gaming industry. A clarity on the GST will help drive the next phase of growth, provide conducive business environment, and revive investor confidence in the sector. These moves will make gaming a cornerstone of Digital India and be the catalyst for India to achieve its goal of a trillion-dollar digital economy.”