India's gaming industry to grow 20–30 per cent in FY23: Report

The gaming in India is expected to increase by 20–30% and create 100,000 jobs in Financial Year (FY) 2023, according to a report on the next sunrise sector.

According to a News24 report, around 50,000 individuals work in the sector, 30% of them are programmers and developers. 

From Rs 7,037 crore in FY 2019 to Rs 14,300 crore in FY 2022, it has increased in value. 

As per the TeamLease Digital’s ‘Gaming- Tomorrow’s Blockbuster’ research, the industry is expected to be valued Rs 38,097 crore in FY 2026 and multiply five times over the next seven years.

Next sunrise sector

“Gaming industry is the next sunrise sector due to its increasing user base and the opportunities that this industry is set to offer. It offers jobs across sectors, and that makes it more in-demand. Despite facing hurdles owing to frequent regulatory changes, the gaming industry is expected to create 100,000 jobs by FY23,” said Sunil Chemmankotil, chief executive officer of Teamlease Digital, a human resources and advisory company.

In FY 2023, the industry is predicted to bring in Rs 780 crore in FDI. According to Munira Loliwala, TeamLease Digital’s business leader for specialist employment, the market would expand 20–30% in FY 2023 and reach a value of Rs 38,097 crore by FY 2026.

Strong community

“With a 480 million strong gaming community, India is second largest globally, after China. To address this growth, employment in the sector is going to significantly increase. Today, we have a 90% millennials and Gen-Z workforce and the majority of these professionals are aspiring to work in emerging sectors like gaming,” she said.