In a groundbreaking revelation at Meta India’s inaugural gaming summit, Sandhya Devanathan, Vice President of Meta India, unveiled projections indicating that the Indian gaming industry is poised to soar to unprecedented heights, potentially reaching a valuation of $7.5 billion and contributing to the creation of a quarter of a million jobs by the year 2025.
Devanathan emphasized the pivotal role of the digital economy, asserting, “While we aim to be an 8-trillion-dollar economy, a trillion of that is going to come from the digital economy, and that will mean that gaming will be a very significant part of that.”
The summit, held in Mumbai, also marked the launch of the ‘Gaming Playbook’ report, a collaborative effort between Meta India and market research firm GWI. The event attracted industry leaders including Dream 11 and Nazara Technologies, alongside prominent creators.
According to the report, India boasts approximately 146 million real money gaming (RMG) players and around 202 million non-RMG casual gamers, with a notable portion residing outside major urban centers.
Devanathan outlined the potential for gaming to evolve into an “export-oriented” sector, fostering additional job opportunities as companies develop products for the global market.
Arun Srinivas, Director and Head of Ads Business at Meta India, underscored the company’s commitment to driving discoverability and remarketing within the gaming sphere, stating, “Gaming is one of the top three sectors for Meta globally, and the Indian gaming market is growing faster than any other in the world.”
The report highlighted the influence of social media on gaming consumption, with a significant majority of casual gamers citing social platforms as a key factor in their decision-making process. Additionally, it revealed that over half of casual gamers make in-game purchases to access premium features and enhance their gaming experience.
However, Srinivas expressed concerns regarding the current outlook for the RMG sector, citing challenges such as increased indirect taxes and pending notices from the tax department.
In response, Meta has been collaborating closely with regulators and state governments, implementing internal policies to ensure compliance with regulations and restrictions on gaming advertisements in certain regions.
Despite regulatory hurdles, the Indian gaming industry continues to thrive, fueled by technological advancements, shifting consumer preferences, and a burgeoning market of avid gamers.
