Google to boost backing for real-money games; extended pilot programme to focus on India, Brazil, Mexico
Mexico, and Brazil. Appreciating the development, Roland Landers, CEO of All India Gaming Federation (AIGF), said, “This decision will help with responsible innovation and provide a bouquet of choices to the Indian consumer.
It will especially help MSMEs and new developers/platforms who will be able to compete with established companies and will substantially bring down the user acquisition and other associated costs." In India, there is an ongoing governmental discussion regarding the precise classification of games as skill-based or chance-based, with comprehensive regulations still pending. Livemint earlier reported that Finance Minister Nirmala Sitharaman announced that the GST Council is currently discussing taxation policies for online gaming.
She expressed optimism that the sector would receive investment once the policies are finalised. Sitharaman was answering a query from Krafton, a Korean gaming company, regarding India's efforts to lure foreign investment in gaming companies.
According to the minister, the GST Council is engaged in discussions at the ministerial level regarding different aspects of online gaming, such as taxation and regulation. The council, which is presided over by Sitharaman and includes finance ministers from various states, is responsible for overseeing the Goods and Services Tax.
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