The Rise of eSports in India: Anticipation Builds for Government Support Ahead of the Interim Budget 2024-25

The officially recognized status of eSports as a multi-sport event by the Indian government has sparked substantial growth within the industry, positioning it as a prominent new-age sport. The sector’s journey to mainstream recognition reached new heights with its inclusion as an official medal sport in the Asian Games 2022 and its potential consideration for entry into the Olympics.

Union Budget 2024: Government support and tax relief are key to the Indian Esports industry’s growth

Optimism Surrounding Government Support

As Finance Minister Nirmala Sitharaman prepares to present the interim Budget for fiscal 2024-25 in the Lok Sabha on February 1, the eSports community remains optimistic about the prospects of government support. Mr. Lokesh Suji, Director of Esports Federation of India & Vice President of the Asian Esports Federation (AESF), expressed hope for a dedicated allocation of funds for the eSports sector and incentives for Indian video game development studios. This support is anticipated to encourage innovation and enable homegrown titles to thrive within the community.

Economic Growth and Industry Potential

According to the “Leveling up: State of India Gaming FY’23” report by Lumikai in collaboration with Google, the Indian gaming industry achieved a remarkable $3.1 billion in FY23 and is poised to reach $7.5 billion by FY28. This significant growth underscores the impressive potential of the eSports industry in India.

Esports Championships

State-Level Engagement and Industry Development

States like Bihar, Uttar Pradesh, Madhya Pradesh, and Kerala are actively engaging with Esports by organizing tournaments, establishing eSports academies, and forming partnerships with sector organizations or publishers. The involvement of state governments is recognized as a crucial factor in nurturing talent within the industry and aligning with the national agenda of promoting digital skills.

Expectations from the Budget

Key figures within the Esports industry are looking to the upcoming budget with several expectations:

  • Tax Relief and GST Reduction: The hope for tax relief for athletes on winnings from Esports tournaments and a call to reduce the GST on Esports activities from 28% to 18%.
  • Educational Programs and Skill Development: A desire for the government’s support in encouraging educational programs by integrating Esports into Educational Curriculums and fostering skill development initiatives focused on gaming and Esports.
  • State-Level Esports Championships: The suggestion for the allocation of funds to each state government for the organization and promotion of State Esports Championships, aiming to contribute to the organic growth of Esports across the nation.
  • Regulations and Encouragement for State Governments: Anticipation for more regulations in terms of in-game and tournament winnings and encouragement for more state governments to allocate budgets for the growth and promotion of Esports, similar to the initiatives in Bihar.

Conclusion

With all eyes on the upcoming budget, the eSports community is hopeful that government support will lay the foundation for a sustainable and thriving eSports ecosystem in India. The industry’s growth trajectory and potential underscore the significance of favourable policies and support from the government to further foster this burgeoning sector.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More like this

Esports Revolution: Esports included in Sports Ministry’s cash rewards for Medalists

Esports Revolution: Esports included in Sports Ministry’s cash rewards...

In a groundbreaking decision that’s set to redefine the competitive gaming landscape, India has officially welcomed esports...
iQOO SOUL x Monster Energy: A Historic First for Indian eSports

iQOO SOUL x Monster Energy: A Historic First for...

In a monumental leap for Indian esports, iQOO SOUL, the BGMI squad under India’s top esports organization...
India’s Gaming & Esports Landscape 2025: AFK Gaming’s New Report Unveils Key Industry Drivers

India’s Gaming & Esports Landscape 2025: AFK Gaming’s New...

India’s gaming and esports scene is gearing up for a major leap in 2025, according to AFK...

Free Fire Esports 2025 Roadmap: Everything You Need to...

Free Fire Esports 2025 Roadmap! Garena has officially unveiled the Free Fire Esports 2025 roadmap, and it’s shaping...
Global Esports Powerhouses: Countries Leading the Competitive Gaming Scene

Global Esports Powerhouses: Countries Leading the Competitive Gaming Scene

The past twenty years have seen competitive gaming become a global sensation with millions of players and...

LATEST NEWS

Trump’s 25% Chip Tariffs Spark Production Shift: Taiwanese Firms Eye US Factories

President Donald Trump has unveiled plans to impose a 25% tariff on imported semiconductor chips, with the possibility of further increases over the next...

Champions Trophy 2025: Kohli’s Unbeaten 100 Leads India To A Dominant Victory Over Pakistan

In the year’s most anticipated clash, with signs of wear showing more than before, Virat Kohli proved he’s still got it. Perhaps, just perhaps,...

Champions Trophy 2025: Bangladesh vs New Zealand – Preview, Prediction and Where To Watch The Match LIVE

Bangladesh is set to take on New Zealand in the sixth match of the Champions Trophy 2025 at Rawalpindi Cricket Stadium on February 24....

Best Car to Buy According to your Monthly Salary in 2025

That sleek luxury sedan catches your eye at every showroom visit, but your monthly salary tells a different story. Smart car buying starts with...

Featured