The Indian Games Industry is scheduled to touch 66,000 rupees by 2029 with a growth rate of 14.5 %: Lumikai report

The game industry in India is scheduled to reach 66,000 rupees by 2029 with a growth rate of 14.5 %, compared to the 8 % global growth (CAGR) according to the latest report of Lumikai. The report says that the great contributor to this change is portable games. With 590 million players, India is now the second largest mobile phone market through downloads, with 3.5 times higher numbers than the United States or Brazil. It also says that a total of 23 million new players has just been added in the 24th fiscal year and supported by $ 2.8 billion in investments and the possibility of creating great job opportunities, the games have the ability to become a major pillar of the digital economy in India.

“In a world in which games have become cultural and economic power, India is no longer just a market for consumers, but it has also become a maker. With size, talent and strategic capital, Indian companies rewrite the bases from local leaders to global powers,” says Nitish Mittersain, CEO of Nazara Technologies. He adds that the first ecosystem of mobile phones in the country, the penetration of the massive Internet, and the youth who enjoy cunning in technology made it fertile ground for games, while what is also changing is how to make games, distribute and finance them.

“The Indian game industry is undoubtedly witnessing a great return due to the great talent gathering and innovative narrative developers that enhance this expansion of the ecological system, which leads to the creation of global marketable games,” says Anog Tandon, the partner of India and the United Arab Emirates at Bitkraft Ventures.

With the presence of the Games sector in India, which enables the largest society, content and creators throughout the country, the games have become increasing interactive between the large masses and platforms that are based on the new signs and influential people from the cities 2 and 3 in India.

When talking about the shift in the Indian Games market, Piyush, founder and CEO of ROOTER, has witnessed that “India has witnessed a significant increase in the purchases within the application by players over the past three years, which leads to an increase in the growth of industry revenues by 40 % homic. 100 trademarks, many game publishers, global platforms, and gift card partners to create anable revenue opportunities. “This rise in participation paves the way for real commercial opportunities as it opens new doors to achieve income through the purchases within the application, ads, partnerships and care, especially when the game is included smoothly in the daily routine platforms.

“Web games, in particular, see traction explosives, and India leads these drawings. We are witnessing a new wave of indigenous users that turn into their web games for access, speed, play, play, no time to wait, what is just immediate fun development,” explains Yashash Agarwal,

He also says it is from the perspective of infrastructure, we find ourselves in a better position than ever. The devices are more intelligent and faster, and with 5G technology, smartphones today enjoy more capabilities ever. As a result, people spend more time online, which leads to an increase in applications and websites across categories.

Meanwhile, on the Development Front, the industry is witnessing a shift towards local innovation. Indian studios have evolved from providing services such as local addresses to create original games that work well on the world stage.

Anurag Chaudhry, founder and executive director of Velicity, adds games.