A new dimension in the bilateral relationship of India and the US has been unveiled by the opening of the first India pavilion at the prestigious Game Developers Conference 2024. The opening ceremony also marked the launch of “India Gaming Market Report”. The US India Strategic and Partnership Forum and WinZO worked collaboratively to make this project a grand success. According to India Gaming Market Report, India’s gambling market is expected grow from USD 3,1 billion in the year 2023 to USD 6.1 billion in the year 2028.
USISPF CEO and President Mukesh Aghi said the inauguration marks a milestone in Indo-US relations. Mr. Aghi also added, “The online gaming sector in India is burgeoning and initiatives such as these would go a long way in fostering collaboration between the two nations, including investment, innovation and content. We envision a future where our combined creativity fuels the next wave of gaming excellence.”
WinZO cofounders Paavan Nanda and Saumya Singh Rathore as well as India’s Consul general in San Francisco K Srikar Reddy & Deputy Consul Rakesh Adlakha attended the event. Mr. Reddy elucidated India’s significant potential in digital realm due to the dividend of youthful population and the traditional prowess of compelling storytelling for fomenting the gaming industry.
India’s Consul general in San Francisco K Srikar Reddy also stated, “Each participant present at the India pavilion today serves as a digital ambassador, showcasing not only their work but also representing India on the global stage. It’s gratifying to witness companies like WinZO actively supporting and collaborating with game developers, enabling them to export their content and gain global recognition.”
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According to the India Gaming Market Report, the Indian gaming industry presently employs 1,00,000 employees, with growing digital penetration and changing dynamics of technology, India is expected to create more than 2,50,000 jobs in the coming decade. India’s gaming market is estimated to grow from USD 3.1 Billion in 2023 up to USD 6 Billion in 2028. India’s internet user base is expected to reach 1.2 billion in 2028 from 881 million users in 2023.
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The report predicted that the number of online gamers would increase from 568,000,000 in the year 2023 to 893,000,000 by 2028. India’s market share is 1.1% of the global gaming industry and there are now more than 1,400 gaming companies in India. This number has increased from 25, in 2015, upto over 1,400 in 2023. India Gaming Market Report also asserted that India’s share of app downloads on mobile devices is 17 percent which posits a conducive environment for gaming technologies in India.
Conclusion: Technology is changing like never before. Gaming technology blended with spatial computing, quantum computing are revolutionizing each and every industries around the globe. Consequently, the job market is also witnessing a drastic change every year.
