Is ‘Esport’ next big thing for India? Zerodha co-founder Nikhil Kamath backs gaming industry. See post
GST on online games during the 50th Council meeting held in July. However, according to Zerodha co-founder Nikhil Kamath, the gaming industry is going to be the 'next big thing' for India. Backing his viewpoint about the online gaming industry, Kamath said wrote on X platform (formerly known as Twitter) that the gaming industry is doubled ($159.3 billion) the size of movie and music industries ($41.7 billion + 19.1 billion) combined.
According to Kamath's personal experience, the younger generation is less enamoured by cricket than his generation was. He added that in the Fiscal year 2021-22, the share of games downloaded by Indians went up to 17% of the global downloads. An average Indian gamer paid around ₹1,700 for online games, he added.
Citing data from Venture Intelligence, he tweeted that the Indian gaming market is expected to grow at 27% per annum to reach $8.6 billion in FY2027. In the past five years, the gaming industry in the country has raised $2.8 billion. There are three unicorns in the gaming space in India at present- MPL ($2.5 billion), GAMES 24 Seven ($2.3 billion), and Dream11 ($8 billion), respectively.
Further supporting his argument on the positive outlook for India's gaming industry, Kamath said the Indian gaming industry directly employs around 150,000 people, and of these 30% (15,000) are developers and programmers. The average salary of a game producer as per the current market is ₹10 LPA, and that of a game designer is ₹6.5 LPA. He said that the next big thing for India is Esports which will generate around ₹100 billion of economic value by 2025.
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