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India's gaming market surged by 23% year-on-year, reaching $3.8 billion in revenue in FY 2023-24, even as the sector faces a 28% GST on online gaming, recent reports reveal. Driven by robust in-app purchases and steady ad revenues, India's gaming industry is on track to surpass $9.2 billion by FY29, with a projected five-year compound annual growth rate (CAGR) of 20%. Currently, real-money gaming (RMG) leads the sector, contributing approximately $2.4 billion to total revenue. However, in-app
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FAQ :
India's online gaming market grew by 23% year-on-year in FY24, reaching $3.8 billion in revenue.
The current GST rate on online gaming in India is 28%.
Real-money gaming (RMG) led the sector in FY24, contributing approximately $2.4 billion to the total revenue.
India's gaming industry is projected to surpass $9.2 billion by FY29.
The projected five-year compound annual growth rate (CAGR) for India's gaming market is 20%.
Women now constitute 44% of the gaming population, and 66% of gamers are from non-metro areas. Younger earners aged 18-30, especially in non-metro cities, show high spending potential.
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