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New Indian Express
a day ago
- Business
- New Indian Express
Indian gaming industry bodies plead govt to halt proposed gaming ban
NEW DELHI: The online gaming industry has appealed to the government not to impose a blanket ban on all real money games. In a letter written to Home Minister Amit Shah, a coalition of India's leading online gaming industry associations and representatives have sounded the alarm over the draft bill that seeks to ban all real money games, including those based on skill. All India Gaming Federation (AIGF), the E-Gaming Federation (EGF), and the Federation of India Fantasy Sports (FIFS) have collectively urged the minister to intervene, arguing that the proposed legislation would "strike a death knell" for the legitimate industry and cause "serious harm" to Indian users. The federations argued that the online skill gaming sector is a "sunrise sector" and a key pillar of the Prime Minister's vision for a $1 trillion digital economy. The letter highlights the industry's substantial economic contributions, including an enterprise valuation of over Rs 2 lakh crores, annual revenue of over Rs 31,000 crores, and tax contributions exceeding Rs 20,000 crores. The industry also supports over 2 lakh direct and indirect jobs and has attracted foreign direct investment (FDI) of over 25,000 crores.
Time of India
a day ago
- Business
- Time of India
Gaming industry warns of over two lakh job losses, urges government to review draft Bill
The online gaming industry has raised alarm that the government's proposed Bill seeking to ban all real money games, including those based on skill, could result in massive job losses and closure of bodies have written to Home Minister Amit Shah urging urgent intervention to protect responsible Indian gaming a joint letter, the All India Gaming Federation (AIGF), E-Gaming Federation (EGF) and the Federation of India Fantasy Sports (FIFS) said that the Bill, if passed, would "destroy over 2 lakh jobs, result in over 400 companies shutting down, and weaken India's position as a digital innovator."The bodies stressed that the move would strike a "death knell" for a legitimate, fast-growing sector that has been contributing significantly to the industry highlighted that online skill gaming is a sunrise sector with an enterprise valuation of over Rs 2 lakh crores, generating Rs 31,000 crores in annual revenue and contributing more than Rs 20,000 crores in has been growing at 20 per cent CAGR and is expected to double by 2028. India's online gamers grew from 36 crores in 2020 to more than 50 crores in 2024, while foreign direct investment in the sector crossed Rs 25,000 crores till June letter warned that shutting down regulated Indian platforms would push crores of users into the hands of illegal matka networks, offshore gambling websites, and unregulated entities, the industry cautioned, operate without consumer safeguards, taxation, or accountability, posing risks of fraud, exploitation, and national security threats."Sir, on behalf of the millions of young entrepreneurs, developers, and professionals working in India's sunrise digital skill gaming sector, we write to you with the deepest respect and gravest concern regarding the news reports about the draft Bill that seeks to ban all real money games, including those based on skill," the industry bodies added that thousands of startups, engineers, and content creators rely on this ecosystem for their livelihoods, and a blanket prohibition would kill future federations urged the government to consider progressive regulation instead of prohibition, noting that the industry has the potential to become one of the cornerstones of Prime Minister Narendra Modi's vision of a USD 1 trillion digital also requested an urgent meeting with Amit Shah's office to present their case and suggest solutions that ensure responsible gaming while safeguarding users."With your guidance, India can set a global example by building a safe, transparent, and thriving digital gaming ecosystem," the letter government prepares to introduce the Promotion and Regulation of Online Gaming Bill, Bill, to be moved by Electronics and Information Technology Minister, Ashwini Vaishnaw, seeks to establish a national-level framework to regulate the online gaming sector, while prohibiting money games that operate across states or from foreign jurisdictions.
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Business Standard
2 days ago
- Business
- Business Standard
Gaming bodies seek Amit Shah's intervention to stop RMG ban in India
In a joint letter, online skill gaming associations have sought Home Minister Amit Shah's intervention against a proposed Bill seeking to ban all forms of real-money games (RMGs) in India, warning that the move could force over 400 companies to shut down and put more than 200,000 jobs at risk. Industry bodies — the All India Gaming Federation (AIGF), the E-Gaming Federation (EGF), and the Federation of Indian Fantasy Sports (FIFS) — said a blanket prohibition on the platforms would 'strike a death knell' for the industry. The bodies have requested a meeting with the Home Minister's office. They cautioned that a blanket ban could drive millions of Indian users to offshore entities, fly-by-night operators, and matka networks — platforms that operate outside any legal framework, lack safeguards, and are prone to unsafe practices. The proposal to impose an absolute prohibition on such platforms comes at a time when there are close to 500 million gamers in India, with the sector having attracted foreign direct investment (FDI) of more than Rs 25,000 crore, as per industry estimates. Major companies in the sector include Dream11, Games24x7, Junglee Games, Mobile Premier League (MPL), Head Digital Works, Zupee, Gameskraft, and Nazara Technologies, among others. 'The only beneficiary of this Bill will be the illegal offshore gambling operators. If legitimate Indian businesses are shut down, unregulated actors will fill the vacuum. This will erode state and national tax revenues while leaving Indian users exposed to unregulated platforms,' the joint letter said. They added that online skill gaming could contribute to Prime Minister Narendra Modi's vision of a $1-trillion digital economy. The government has finalised a draft legislation to ban all forms of online RMG in India and will introduce it in Parliament on Wednesday. The draft Bill, cleared by the Union Cabinet on Tuesday, is likely to bar 'offering, aiding, abetting, inducing, or otherwise in the offering of any online money gaming service' and declares it an offence. Aimed at curbing the sharp spike in online gaming addiction among children and youth, which has triggered mental health issues and financial losses, the Bill also bans any person and advertisement from promoting online money games. Furthermore, the draft Bill proposes that banks, financial institutions, or any other person should not facilitate transactions related to online real-money games.
Time of India
2 days ago
- Business
- Time of India
Gaming bodies write to Amit Shah; urge to block blanket ban, warn of Rs 20,000 crore tax loss
India's leading online gaming industry associations have urged Home Minister Amit Shah to intervene in the government's proposed Promotion and Regulation of Online Gaming Bill, 2025, saying that a blanket ban on real-money games could cripple the sector, cost the exchequer nearly Rs 20,000 crore annually in taxes, and drive crores of users to unsafe offshore a joint representation, the All India Gaming Federation (AIGF), E-Gaming Federation (EGF) and Federation of Indian Fantasy Sports (FIFS) said the draft law which seeks to prohibit all real-money games, including those based on skill would 'strike a death knell' for an industry that today supports more than 200,000 jobs, has attracted Rs 25,000 crore in FDI, and contributes over Rs 20,000 crore in annual tax revenues.'The only beneficiary of this bill will be illegal offshore gambling operators,' the letter stated. 'By shutting down regulated and responsible Indian platforms, crores of users will be driven to unregulated matka networks and offshore betting websites without safeguards, consumer protections or taxation.'According to the associations, the online skill gaming industry has grown into a Rs 2 lakh crore enterprise with Rs 31,000 crore in revenue, and is projected to double in size by gamer base has surged from 360 million in 2020 to over 500 million in 2024, making it one of the world's fastest-growing digital entertainment cautioned that a ban would derail this growth trajectory, deter global investors, and lead to the shutdown of more than 400 companies. 'This legitimate, job-creating industry is being treated on par with offshore gambling operators, when what is needed is progressive regulation, not prohibition,' one industry leader proposed bill empowers a new regulator to register titles, block unlawful content, and investigate violations. It also prescribes heavy penalties: up to three years' imprisonment and Rs 1 crore in fines for operators, and up to two years and Rs 50 lakh for industry bodies argue that smart regulation distinguishing skill from chance, enforcing user safety, and ensuring taxation clarity is a better alternative.'With your guidance, India can set a global example by building a safe, transparent and thriving digital gaming ecosystem,' the industry groups told Shah in their letter.
Economic Times
2 days ago
- Business
- Economic Times
Gaming bodies write to Amit Shah; urge to block blanket ban, warn of Rs 20,000 crore tax loss
ETtech India's leading online gaming industry associations have urged Home Minister Amit Shah to intervene in the government's proposed Promotion and Regulation of Online Gaming Bill, 2025, saying that a blanket ban on real-money games could cripple the sector, cost the exchequer nearly Rs 20,000 crore annually in taxes, and drive crores of users to unsafe offshore a joint representation, the All India Gaming Federation (AIGF), E-Gaming Federation (EGF) and Federation of Indian Fantasy Sports (FIFS) said the draft law which seeks to prohibit all real-money games, including those based on skill would 'strike a death knell' for an industry that today supports more than 200,000 jobs, has attracted Rs 25,000 crore in FDI, and contributes over Rs 20,000 crore in annual tax revenues. 'The only beneficiary of this bill will be illegal offshore gambling operators,' the letter stated. 'By shutting down regulated and responsible Indian platforms, crores of users will be driven to unregulated matka networks and offshore betting websites without safeguards, consumer protections or taxation.' Also Read: Government proposes dedicated regulator for online gaming under new law Sector at riskAccording to the associations, the online skill gaming industry has grown into a Rs 2 lakh crore enterprise with Rs 31,000 crore in revenue, and is projected to double in size by 2028. India's gamer base has surged from 360 million in 2020 to over 500 million in 2024, making it one of the world's fastest-growing digital entertainment cautioned that a ban would derail this growth trajectory, deter global investors, and lead to the shutdown of more than 400 companies. 'This legitimate, job-creating industry is being treated on par with offshore gambling operators, when what is needed is progressive regulation, not prohibition,' one industry leader said. Call for regulation The proposed bill empowers a new regulator to register titles, block unlawful content, and investigate violations. It also prescribes heavy penalties: up to three years' imprisonment and Rs 1 crore in fines for operators, and up to two years and Rs 50 lakh for industry bodies argue that smart regulation distinguishing skill from chance, enforcing user safety, and ensuring taxation clarity is a better alternative.'With your guidance, India can set a global example by building a safe, transparent and thriving digital gaming ecosystem,' the industry groups told Shah in their letter. Also Read: Proposed online gaming bill could wipe out India's real money gaming sector, push users offshore, warn industry leaders Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Hacking, ransom, lawsuits: Why social engineering is TCS, Cognizant's latest headache Govt easing policies to boost growth; when will industry play ball? Can new shipping laws bury the ghost of British legacy? How IDBI banker landed plush Delhi properties in Amtek's INR33k crore skimming Stock Radar: M&M hits fresh record high in August 2025; time to buy or book profits? Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus F&O Radar | Deploy Bull Call Spread in Nifty to play index reversal Stock picks of the week: 5 stocks with consistent score improvement and return potential of more than 20% in 1 year
