Tech

Gamezop CEO: India’s Gaming Sector Poised for Rapid Growth with Government Support

Yashash Agarwal, the CEO and co-founder of Gamezop, a smartphone gaming platform, stated on Saturday that the gaming industry in India is expected to grow rapidly due to a comprehensive government strategy, despite the government having implemented several steps to support this growth. In order to help India reach its full potential, Agarwal claims that the government has created an attractive business climate by allowing 100% foreign direct investment (FDI). This enables international investors to work with Indian gaming companies.

“The official recognition of esports as a multi-sport event by the government marks a significant accomplishment. The CEO spoke with IANS on the move that places esports under the Ministry of Youth Affairs and Sports and creates opportunities for more funding, sponsorships, and professionalization of the industry. Apps can use Gamezop, a multi-game platform, to give their users access to a gaming section.

In India, there are approximately 450–550 million avid gamers. Revenue from the gaming business in India increased to $3.1 billion in FY23 from $2.6 billion in FY22, a 19% rise. Gamezop recently revealed the addition of four more products to expand its global range of digital goods: Quizzop, Newszop, Astrozop, and Criczop.

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Regarding user reactions to Indian gaming, Agarwal stated that the country is expected to have an astounding 650 million players by 2027 based on downloads and user engagement within gaming apps, which are surging. He claimed that this rise was caused by a number of variables. “The availability of games in regional languages, the affordability of smartphones and data plans, and advancements in browser technology,” he said. Invest India states that the fourth-largest industry in India for media and entertainment is internet gaming. Its estimated growth rate to reach Rs 231 billion by 2025 is a 20% CAGR.