India Holds Second-Largest Online Gamer Base Globally

India boasts the world’s second-largest online gaming community, trailing only China, according to a new report. Despite a 28% goods and services tax (GST), investor confidence in the real money gaming sector has remained strong, evident from ongoing deal activity. 

“The count of online gamers in India has surged to a remarkable 442 million, solidifying its position as the second-largest gaming user base worldwide,” stated a report by Grant Thornton Bharat and the E-Gaming Federation (EGF).

The Real Money Gaming (RMG) segment is emerging as a primary revenue generator in the industry. "With users dedicating an average of 8.5 hours per week in FY22, this segment is rapidly gaining momentum," the report highlighted.

The report, released on Tuesday, noted that the RMG sector encountered numerous challenges in 2023. It pointed out that the 28% GST had a substantial impact on the sector, resulting in extensive job cuts and the shutdown of several startups due to the tax burden.

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