This week, there were two significant changes in the gaming industry. First off, the Ministry of Electronics and Information Technology (MeitY) has taken the lead in regulating the nation’s fledgling but expanding online gaming sector.
Another development is that esports are now recognised by the authorities as a legitimate component of multi-sport competitions. The country’s esports community has been waiting for this for a while, and the fact that the directive was issued right before the year closed has only increased the excitement.
India is the fastest-growing games market in Asia, both in terms of revenue and players, according to Niko Partners, a market research and consulting firm that focuses on video games, e-sports, and streaming. It is anticipated that India’s mobile and PC gaming revenue will reach US$704.5 million in 2022.
The important news has clarified that esports should not be lumped in with gaming as a whole. Experts have repeatedly emphasised that esports (Electronic sports) is a competitive sport in which esports athletes compete in certain video game genres in a virtual, electronic setting.
“Excellent news to start the new year. Our attempts to distinguish esports from gaming have finally proven successful, according to Lokesh Suji, Director of the Indian Esports Federation and Vice President of the Asian Esports Federation (AESF).
“We applaud this news by our government, led by the Hon’ble PM Modi ji, as it will create new chances for greater investment in this burgeoning sector,” he continues.
According to Animesh Agarwal, founder and CEO of 8bit Creatives and a former esports athlete, “it presents a clean slate for gamers and disproves doubters that Esports is, in fact, a serious sport that deserves to be recognised for its skilled and diligent players who will be competing against some of the world’s best players.”
Numerous Opportunities
People are putting aside the myths about esports as a hobby or career choice in light of the most recent announcement and India’s recent participation in the inaugural Esports Asian Games where they competed for medals. Esports will have more prospects in 2023, and the esports community is expecting more positive changes, which will only grow it.
“Starting today, we must create the necessary infrastructure, training grounds, and coaching for our young esports competitors. It won’t be long before Esports are compared to sports like cricket, football, basketball, etc. and have comparable fan bases, audiences, and crazes, says Suji.
According to Rohit Jagasia, founder and CEO of Revenant Esports, “Today may be stated to be the greatest day in Indian Esports history.” “The Ministry of Youth Affairs, sports, and the entire gaming community have all worked together to achieve this, and the results are in. Esports are now a recognised sport in India, and we can say that with pride.
This ground-breaking choice will not only change the country’s gaming environment in terms of better funding, exposure, and education about the industry, but it will also establish India as a major player in the world of Esports.
The Asian Games and the Olympic Esports Week are both scheduled to take place very soon, so there is a lot of success anticipated to be in store for the entire community, he continues. “The year 2023 is without a doubt going to be the start of the country’s golden era in Esports,” he says.
Happy Esports Community
The gaming community’s joint efforts over the past few years have undoubtedly paid off, and the entire Esports fraternity in India will be celebrating this good news.
Esports are already recognised as a medal sport at the Olympics and Asian Games, and this announcement will provide the sport a much-needed boost in the nation, according to Agarwal.
The video game industry—which includes producers, players, and creators—is expanding quickly, and when this recognition comes full circle, it will be extremely beneficial for the sector.
“For us at 8Bit Creatives and S8UL, this is a pivotal time. We have big plans for Indian esports in the future. We are dedicated to encouraging and helping more and more esports athletes in our nation, starting from scratch with a clear objective of putting India on the map internationally,” he continues.
At a time when gaming and esports are projected to be the fastest-growing sectors of the Indian economy, Parth Chadha, CEO and Co-Founder of STAN, believes it is encouraging to see the Government of India taking notice of it and moving to improve these industries with more legal clarity.
“At STAN, we support the decision to name nodal Ministries for both esports and online gaming. This action is also in line with the urgently needed agenda to recognise esports as an official sport in our nation. This will level the playing field for current esports athletes, game developers, and the community at large, and will also help esports become a sunrise industry in India by 2023 and beyond, according to him.
Esports Have Seen a Rapid Rise
In 2022, Indian Esports experienced a rapid increase in popularity. With significant accomplishments like the Indian Dota 2 team winning the bronze medal at the Commonwealth Esports Championship and esports being added as a medal sport for the Asian Games 2022 (to be held in 2023).
According to a recent analysis by the gaming-focused venture capital fund Lumikai, the esports market is predicted to increase from USD 1.1 billion in 2022 to USD 4 billion by the fiscal year ending in March 2027, excluding real money and fantasy gaming.
“The official recognition of esports as a sport is a significant development in the mainstreaming of the video game industry. India is quickly becoming a significant global gaming market with its 507 million gamers. According to Salone Sehgal, Lumikai’s founding general partner, “esports streaming view hours already rival those of traditional sport.”
The development of the gaming community, the introduction of legitimate career possibilities, genuine support for Esports players, improved brand/media engagement, and a broader acceptance of gaming as a business will all arise from the increased acknowledgement of athletic success. Lumikai is encouraged to observe how our analysis and suggestions have influenced legislation and policy. In 2023, we anticipate even bigger advancements for the sector, she continues.
Good News: An SRO that is registered
According to Sameer Barde, CEO of the E-Gaming Federation, “the proposed amendments to the IT (Intermediary Rules and Digital Media Ethics Code) rules, 2021 with reference to the online gaming business are a very constructive and positive development, and we welcome them.”
The revisions place a strong emphasis on creating a light-touch regulatory organisation (SRO), which would be registered with the Ministry of Electronics and IT. The SRO will guarantee a strong, time-bound grievance redressal process, register online gaming intermediaries, promote responsible gaming through age verification and a strict KYC process, and take precautions against addiction, financial hardship, etc.
“All things considered, we believe that these actions will eventually assist the government in establishing a regulated and sustainable business while encouraging responsible gambling. As a self-regulatory organisation, the E-Gaming Federation is eager to take an active part in determining the direction of the sector. “We are genuinely optimistic about the future of the online gaming industry,” he continues.
