India's online gaming sector may cross Rs. 77,688 crore (US$ 9 billion) by 2029: Report

India’s online gaming sector is expected to grow more than two-fold, reaching Rs. 78,551 crore (US$ 9.1 billion) by 2029, up from Rs. 31,938 crore (US$ 3.7 billion) in 2024, according to a joint report by WinZO Games and the Interactive Entertainment and Innovation Council (IEIC). The report highlights that Real Money Gaming (RMG) dominates the market, contributing 85.7% of the total revenue at Rs. 27,438 crore (US$ 3.2 billion) in 2024 and is projected to moderate to 80% by 2029 as the share of non-RMG games increases. The sector has received Rs. 25,896 crore (US$ 3 billion) in foreign direct investment (FDI), with 85% of FDI directed toward the Pay-to-Play segment. 

India is home to 591 million gamers, accounting for 20% of the global gaming population, with 11.2 billion mobile game downloads annually. The country also hosts 1,900 gaming companies, employing 1.3 lakh skilled professionals. The report estimates that India’s online gaming market could unlock Rs. 5,43,816 crore (US$ 63 billion) in investor value by 2029. Additionally, the sector is expected to grow to Rs. 5,18,053 crore (US$ 60 billion) by 2034, creating over two million jobs, attracting further FDI, and driving the export of Indian intellectual property (IP). 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.