The Indian government has formally recognized Esports as an official sport, a big victory for the nation's esports scene. India's Ministry of Sports and Youth Affairs currently oversees the sporting events.

In esports, India is now one of the markets with the quickest growth. It is hardly surprising that the esports industry in India is expanding swiftly. Generally, India's most popular esports include PUBG, COD, BGM, DOTA 2, Tekken 7, and FIFA.

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How Does Esports Benefit India?

Foreign Investments

The economy of every nation is significantly influenced by foreign investment. As the gaming sector grows, it also benefits the economy and India's standing internationally.

For India, foreign investment is one of the most effective methods to grow the economy. Big companies like ESL and Intel Extreme Masters may soon hold events in India since esports is recognized as a formal sport.

Currently, organizations like WPT Global host esports tournaments and provide a platform for aspiring players. A recent WPT Global review showed that their efforts in player development, infrastructure, and technology had paid off, leading to a spike in esports interest and involvement across India.

According to research by Ernst & Young, esports would have a total economic effect of over Rs 100 billion through in-app purchases. This includes investments and other direct industry revenues by 2025, producing more than 11,000 jobs.

Possible government funding in the gaming industry

A national squad is typically put together on-the-fly for potential international contests when a particular sport receives recognition. The same thing might happen since an Indian team previously demonstrated its value by winning the bronze medal at the Commonwealth Esports Championship 2022.

Recent Happenings in Indian Esports

  1. On February 7th, Upthrust Esports, an Indian esports event organizer and gaming firm, debuted on Shark Tank India and aired on Sony LIV and Sony Entertainment Television. Although no sharks invested in the business, Upthrust Esports intends to bring partnerships, sponsors, and investors to further esports.
  1. In 2022, Global Esports, an Indian esports organization and an organization with Riot Games partnered, acquired enormous viewership. Global Esports CEO Rushindra Sinha disclosed that in 2022, Global Esports' YouTube videos received 250 million impressions, 30 million views, and 1.8 million hours of viewing time. The group has also amassed over 600,000 subscribers.
  1. Newgen Gaming, which participates in the esports market through Penta Esports, received a strategic investment from nCore Games worth $1 million. Anurag Khurana, Akshay Paul, Kiran Noojibail, and Krishanu Ghosal are the leaders of Newgen Gaming, an organization created in 2021. With the funding, Newgen Gaming will expand its activities in South Asia, North Africa (MENA), and the Middle East.
  1. On February 2, 2023, Nirmala Seetharaman, India's finance minister, delivered the Union Budget, which included Section 194BA of the Finance Bill. This would have placed a direct tax on internet gambling. The budget included a distinction between skill-based and luck-based gambling to legitimize the online gaming business and give taxation certainty, which might stimulate sector expansion.

Just Getting Bigger and Bigger

In 2023, people may anticipate further investment in esports resources for professional players as the esports business in India expands and gains more recognition on a national and worldwide scale.

We may also anticipate a growth in local tournaments and leagues organized by commercial organizations and government bodies. The esports industry is now experiencing a boom, and more international competitions will be held in India starting in 2023.