Budget 2024 expectation: From Intellectual Property laws to startup relaxations; here's what gaming industry expects

livemint.com:

Intellectual Property rights were another key point raised by Reddy, stressing the importance of support for protecting and monetizing IP in the creative gaming content field. Recognizing esports as a legitimate sport and supporting its infrastructure were also highlighted as crucial elements for the growth of the gaming sector. Reddy concluded by suggesting the establishment of government-supported incubators for gaming startups, which could significantly contribute to channeling the creative energy of the youth towards innovation.

Salone Sehgal, Founding General Partner at Lumikai, shed light on the remarkable growth of India's gaming market, currently valued at $12 billion in 2023. Sehgal emphasized the need for policies that encourage the creation of "Make in India, for India and the world" content and technology. With the rise in mobile phone usage, especially in Tier 2 and Tier 3 cities, Sehgal stressed the importance of locally relevant, culturally resonant content.

Lumikai expects the budget to support sector-specific game upskilling, provide tax breaks for global players investing in the Indian market, and allocate funds for AI research and development. Kavitha Rao, COO and Co-founder of 10club homes, shifted the focus to the retail industry, projecting it to become the world's third-largest by 2027. Rao highlighted the need for measures to revive consumer spending, increase disposable incomes, boost manufacturing in various material types, and address the challenge of skilling in the retail sector.