Announcement
India is taking the virtual world more and more seriously. Earlier this week, the central government released draft national and state level guidelines for developing the AVGC-XR sector, which includes everything from gaming to augmented reality.
The new policy provides for a new curriculum in educational institutions, which contributes to the success of the “Create in India” campaign, which aims to increase domestic capacity as well as create new market opportunities. In addition, esports has also received official confirmation from the Indian government: President Draupadi Murmu has updated the relevant rules so that from now on, the Ministry of Electronics and Information Technology and the Ministry of Sports recognize “esports as part of a multi-sport event.” Along with the draft policy, the Ministry of Information and Broadcasting of India also presented a report titled “Unlocking the Potential of the AVGC-XR Sector in India” prepared by the task force.
India contributes about $2.5-3 billion to the $260-275 billion global market. “India is emerging as a top destination for high quality skills-based services in the AVGC sector. According to media and entertainment industry experts, the sector could see 14% to 16% growth in the next decade,” said Apoorva Chandra. , Secretary of the Ministry of Information and Broadcasting. He added that the sector currently employs 1.85 million people in India and another 30,000 people indirectly. By 2030, however, the sector will need to employ 20 million people to grow.
“Policy development at the national and state levels to promote the growth of the AVGC-XR sector will be key to supporting the growth of the M&E (media and entertainment) industry in general and the AVGC sector in particular, which will ultimately drive India’s growth as a AVGC,” added Chandra.
In terms of gaming, India is expected to become one of the leading markets in the world. In 2021 alone, the gaming segment grew by 28% and reached $1.22 billion. By 2025, this amount is expected to grow to $3.9 billion.
“At a time when gaming and esports are becoming the fastest growing sectors of our economy, it is encouraging to see that the Government of India is taking note and taking steps to improve these sectors through regulatory clarity. a program is needed for esports to be recognized as an official sport in our country, thereby providing fantastic momentum and a level playing field for today’s esports players, game developers and the community in general, the industry,” said Part Chadha, CEO and co-founder based in Bangalore startup STAN, developer of a blockchain-based esports fan platform.
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