BGMI maker
Krafton India is advocating for government support measures to boost the online
gaming industry in the country. CEO Sean Hyunil Sohn highlighted how countries
like the UAE and Canada offer subsidies to gaming companies for labor costs,
and he encouraged the Indian government to explore innovative methods to
promote the industry.
Speaking at a
CII event on digital gaming, Sohn emphasized that governments globally view the
gaming business as a future driver of job creation. He suggested that while
India needs increased tax revenue for development, there is room for creative
strategies to advance the gaming sector. Currently, the GST Council has imposed
a 28% tax on the total value of bets placed on online games, starting from
October 1, with a reassessment planned after six months.
Sohn
highlighted India's advantageous position due to its affordable internet and
mobile penetration, which he believes will lead to gaming growth and
opportunities for companies. He noted that Indian gamers possess a unique
advantage of being mobile-native, in contrast to Western gamers who
transitioned from consoles, PCs, and arcade gaming to smartphones. Although
India currently has around 100 million true gamers out of a total of 500
million gamers, Sohn predicted rapid growth due to the affordability of mobile
internet and widespread smartphone access.
He acknowledged
that the Indian gaming market is substantial, particularly for top games like
BGMI (Battlegrounds Mobile India), and he observed a heavy concentration of top
players compared to other markets.
Furthermore,
the gaming industry's presence has expanded significantly within the
entertainment sector, accounting for approximately 80% of the combined movie
and video game industry. Prosenjit Ghosh, SONY India National Head of the
PlayStation Division, commented that gaming is increasingly becoming a
mainstream form of entertainment in India, comparable to cricket or movies.
.jpg)
.jpg)
