‘Very concerned about Lava chief Rai’s arrest’
₹1.25 trillion ($15 billion) to its China headquarters from India since 2014, while not paying any taxes in India. Rai is accused of helping set up Vivo’s India operations. Lava International is a beneficiary of the Centre’s production-linked incentive (PLI) scheme for domestic smartphone manufacturing.
However, the company could not meet the incremental revenue target set under the PLI scheme for FY23. Chandrasekhar added that concerns around money-laundering also led to crackdowns on the online gaming sector, which saw the influx of “some bad actors". “The government sees legally permissible online gaming as an important part of opportunities before youngsters in India.
However, it is clear that there were some bad actors in this sector, who have misused the internet—and in that, there is absolute justification to crack down on them," he said. However, he added that a consensual framework for the sector has been arrived at. “The framework for permissible online gaming has been finalized, and is now being gradually advocated across all government departments.
In the coming months, we think that there will be a much more consistent approach by all government departments to online gaming. This will keep bad actors out, and permit innovation and growth of the ecosystem around online games," Chandrasekhar added. In April this year, the Centre notified rules for online real-money game operators, which includes the establishment of self-regulatory bodies (SRBs) in the industry, and the need for operators to certify their games through SRBs.
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