Anant Goenka, executive director, The Indian Express Group and Ronnie Screwvala, co-founder and executive chairman, upGrad talked about the need to invest in the gaming sector at IGS 2020
Even as the online gaming industry is a relatively new proposition in the Indian market, it has been witnessing a significant growth over the last few years. “In 2019, India’s online gaming segment grew 40% to reach Rs 6,500 crore. The industry is expected to grow 43% to touch an Rs 18,700 crore by 2022,” Anant Goenka, executive director, The Indian Express Group said. He was speaking at the first edition of the India Gaming Summit (IGS), 2020. He further added that the number of online fantasy gamers grew a 100% since 2018 and the total number of online gamers have nearly doubled from 183 million in 2017 to 365 million in 2019.
Meanwhile, Ronnie Screwvala, co-founder and executive chairman, upGrad talked about the need to introspect on the country’s positioning in the gaming industry in order to grow- whether the country aims to emerge as a great ‘player’ country, an ‘originator of games’ country or be one of the important markets for games in the world. “Being a very strong player market is going to require an intense investment in people and training,” Screwvala added, highlighting it as the key to outperform on a global scale.
Furthermore, he delved upon the need to revenue optimise in order to be an important market for online gaming globally. “Monetisation would require a very strong infrastructure and the ability to take the segment on television, look at all alike media in India to popularise the sport and make it even more aspirational,” Screwvala added. As per him, one of the key observations to grow a game across countries is to see it as a viable career option. “With investment and talent, we can take the sport to the next level,” he noted adding the need for a collaborative effort between originators, players as well as the league ecosystem in a very synergistic manner.