San Francisco, Wednesday, March 20, 2024:
The U.S.-India Strategic Partnership Forum (USISPF)’s President and CEO, Dr. Mukesh Aghi, proudly announced the launch of the ‘India Gaming Market Report’ and the inauguration of the first-ever India Pavilion at the Game Developers’ Conference.
The event, held in collaboration with USISPF member WinZO, witnessed the participation of Paavan Nanda and Saumya Singh Rathore, co-founder of WinZO, India’s Consul General in San Francisco Dr. K Srikar Reddy, and Deputy Consul General Mr. Rakesh Adlakha.
During the launch, Dr. Aghi engaged in a fireside chat with Consul General Dr. K Srikar Reddy, focusing on India’s burgeoning gaming industry. He emphasized the significant potential of India’s digital economy, its youthful demographic dividend, and the compelling power of storytelling in propelling the growth of the gaming sector.
Dr. Aghi remarked, “The inauguration of the India Pavilion here today marks a significant milestone in the Indo-U.S. relationship. The online gaming sector in India is burgeoning, and initiatives such as these would go a long way in fostering collaboration between the two nations including investment, innovation, and content. We envision a future where our combined creativity fuels the next wave of gaming excellence.”
Dr. Reddy, the Indian Consul General of India in San Francisco expressed his appreciation for the efforts made by companies like WinZO in supporting and collaborating with game developers. He commented, “Each participant present at the India Pavilion today serves as a digital ambassador, showcasing not only their work but also representing India on the global stage. It’s gratifying to witness companies like WinZO actively supporting and collaborating with game developers, enabling them to export their content and gain global recognition.”
Key Facts on India’s Gaming Industry:
- India Gaming Market Size: $3.1 billion (2023), $6 billion (2028E), CAGR 2023-28E – 14.1%
- Internet Users: 881 million (2023), 1.2 billion (2028E), CAGR 2023-28E – 6.4%
- Smartphone Users: 821 million (2023), 1.12 billion (2028E), CAGR 2023-28E – 6.3%
- Online Gamers: 568 million (2023), 893 million (2028E), CAGR 2023-28E – 9.5%
- Paying Gamers: 144 million (2023), 240 million (2028E), CAGR 2023-28E – 10.8%
- Average age in India: ~29 years
- India’s share of the global gaming market: 1.1%
- Cost of mobile data in India: $0.17/GB; third cheapest globally
- Data Consumption per capita per month: 30.7 GB (2023), 68.5 GB (2028E), CAGR 2023-28E – 17.4%
- FDI till 2023: $2.8 billion
- Number of gaming companies: 25 (2015), 1400 (2023)
- Current employment generation: 100,000 jobs in India
- India has over 820 million smartphone users and over 600 million gamers.
- India accounts for the highest share of mobile game app downloads worldwide, with a 17% share.
- The gaming industry in India currently employs 100,000 professionals and is expected to create over 250,000 jobs in the coming decade.
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About the US-India Strategic Partnership Forum (USISPF):
The US-India Strategic Partnership Forum (USISPF) is committed to creating the most powerful partnership between the United States and India. As the only independent not-for-profit institution dedicated to strengthening the U.S.-India partnership in Washington, D.C., and in New Delhi, USISPF is the trusted partner for businesses, non-profit organizations, the diaspora, and the governments of India and the United States.
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