Number of gaming startups in India surged from five to 1,330 in 6 yrs

A task force was set up on April 8 this year for promotion of Animation, Visual Effects, Gaming and Comics (AVGC) industry.

PTIUpdated: Wednesday, December 07, 2022, 09:33 PM IST
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Recognised startups in the gaming and related sectors have grown from five in 2016 to over 1,330 as on November 30, 2022, Parliament was informed on Wednesday. A task force was set up on April 8 this year for promotion of Animation, Visual Effects, Gaming and Comics (AVGC) industry, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha.

The mandate of the task force includes facilitation of skilling initiatives, promotion and market development activities to extend global reach of the Indian AVGC industry, boosting of employment opportunities and incentives to attract foreign direct investment in the AVGC sector.

"Sustained government efforts in this direction have resulted in increasing the number of recognized startups from 452 in 2016 to 84,012 in 2022 (as on 30th November 2022). This includes startups in gaming and related sectors, which have grown from about 5 in 2016 to over 1,330 startups in 2022 (as on 30th November 2022)," he said.

Replying to a separate question, the minister said, comprehensive reforms have been undertaken by Public Sector Banks (PSBs) under Enhanced Access and Service Excellence reforms agenda to improve the ease of doing business.

He also said, the objective of amalgamation of the banks was to facilitate consolidation among PSBs to create strong and competitive banks capable of achieving economies of scale and realisation of synergy benefits with wider product and service offering to customers.

As a result of this effort, he said, customers of amalgamated banks received access to increased number of branches and ATMs from which they can now avail banking services.

Customers have also received access to a larger bouquet of products and services through harmonization of the same across banks being amalgamated together and enhanced their lending capacity for loans of a larger size, Parkash said.

Further, the increased scale and customer base in the amalgamated banks has also enabled banks to opening/reorganizing controlling offices and processing centres, equipping them to better serve customers, he added.

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