2023 hit the Indian gaming industry like a never-ending blizzard, akin to a real-life rendition of Murphy’s Law — everything that could go wrong, did go wrong.
First up, some states banned real money games (RMG) such as poker to prevent harm to children and young adults. It was followed by a policy flip-flop on permissible and non-permissible games, and finally, the imposition of a 28 per cent goods and services tax on the sector.
Despite these headwinds, however, the sector has managed to dig itself out from the snow, even though a few companies had to shut shop permanently. Here’s a quick look at the current state of the gaming sector in India and what its future looks like: