MEITY MOS Rajeev Chandrasekhar is all set to meet online gamers for a brainstorming session on the regulatory framework for online gaming. This follows the last month session with entrepreneurs of online gaming companies. Esports is now a medal event in Asian Games and is expected to debut in Commonwealth and Olympics.
This proactive initiative from MEITY comes at a time of regulatory uncertainty at the state level while the gaming sector has witnessed Covid19 induced unprecedented growth in terms of app downloads and revenue.
Tamil Nadu Law Minister Raghupathi on Monday said there is a need for national level legislation against online rummy and other games played for stakes. States like Kerala and Tamil Nadu are now contemplating to enact fresh laws to ban gaming for stakes.
Dream Sports the owner of fantasy platform Dream11, multi-gaming platform Mobile Premier League (MPL), listed entity Nazara Technologies and industry associations such as Indiatech.org, All India Gaming Federation (AIGF), Federation of Indian Fantasy Sports (FIFS) and ESports Federation partipated in the last month session with MEITY.
🕹 Gaming is incomplete without gamers!
After holding a consultation with entrepreneurs in #onlinegaming in June, today MoS @Rajeev_GoI is going to hold a meet with online gamers as they are significant stakeholders of this sector. Here’s a quick recap of the last meeting! pic.twitter.com/faPxphoGC1
— Ministry of Electronics & IT (@GoI_MeitY) July 14, 2022
According to reports, in the last session, the industry has sought a light-touch self-regulatory mechanism to regulate online gaming platforms. The session in June also saw participation from lawyers and members of the recently connstituted inter-ministerial task force to regulate online gaming.
Came out super impressed with sharp focus and clarity of thinking by h’ble minister @Rajeev_GoI ji . Hopefully gaming industry has found its “nodal ministry” amongst multiple ministries which gaming intersects.
— Manish_agarwal (@manishdiesel) June 7, 2022
The mobile gaming market in India is projected to hit a $5 billion opportunity by 2025 from the current $1.5 billion, according to a recent Sequoia India and Boston Consulting Group report. According to the Indian constitution, online gaming is a state subject. Earlier, it was reported that the union government is planning to adopt a ‘uniform approach’ to regulate online gambling and real money gaming.