Indian gaming industry likely to create 1 lakh new jobs by end of FY23: TeamLease Digital

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According to a recent report by staffing company TeamLease Digital, the gaming sector in India is expected to grow by 20-30% and would create around 1 lakh new direct and indirect jobs by the end of FY23.

As per the report “Gaming: Tomorrow’s Blockbuster,” 30% of the industry’s workforce is made up of programmers and developers, and there are currently roughly 50,000 individuals working in the area directly.

The industry will create new jobs in the upcoming months in a variety of fields, including programming, testing, animation, design, VFX and concept artists, and other non-specific roles like content writers, gaming journalists, web analyst.

The top paid positions in the gaming industry in terms of salaries are those of game producers (Rs 10 lakh annually), game designers (Rs 6.5 lakh annually), software engineers (Rs 5.5 lakh annually), game developers (Rs 5.25 lakh annually), and QA testers (Rs 5.11 lakh annually).

Sunil Chemmankotil, CEO of Teamlease Digital said, “Despite facing hurdles owing to frequent regulatory changes, the gaming industry is expected to create 1 lakh jobs by FY23 and grow 2.5x by 2026.”

Munira Loliwala, Business Head-Specialized Staffing at Teamlease Digital said, “We are at the cusp of exponential growth in the sector. This industry is on the trajectory to grow by 20%-30% by FY23 and is expected to reach ₹38,097 crore by 2026. With a 480 million strong gaming community, India is second largest globally, after China.”

“Today, we have a 90% millennials and Gen-Z workforce and the majority of these professionals are aspiring to work in emerging sectors like gaming. By FY23, close to 1 lakh new jobs will be created in the sector and this is further projected to increase by 50% taking the Industry overall growth trajectory to more than 113% by 2025,” Loliwala added.

Employers’ preferred educational backgrounds and skill sets were also mentioned in the report. Qualifications for candidates looking to work in the game business range from a BCA in software and a diploma in 3D, 2D, animation, and VFX to an M.Tech/B.Tech in IT and a diploma in specialized languages like C++, Java, and DevOps.

Loliwala also said, “With the confluence of Web3 and metaverse, gamification is not just restricted to traditional gaming avenues but has extended to other emerging tech sectors like e-commerce, fintech and education etc. Over the next few years, aided by the sturdy growth in the sector, we will see a catapult impact on employment as well.”

According to the report, investments will increase in order to support the growth vision. India is now ranked sixth on the world’s largest gaming market index in terms of revenue. By FY23, the sector is projected to bring in FDI worth Rs 780 crore. Stakeholders across the entire sector are also striving to develop policies to control the ecosystem.

The gaming market in India is predicted to almost quadruple to $8.6 billion by 2027 from $2.6 billion, according to a report published on November 2 by the gaming-focused venture capital fund Lumikai.