Indian Esports Industry's Pre-Budget Expectations For Growth of Video Gaming Industry In 2024 With Finance Minister Nirmala Sitharaman scheduled to present the interim Budget for fiscal 2024-25 in the Lok Sabha on February 1, there is a sense of optimism for the Esports industry in the upcoming year.
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The debut of Esports as an official medal sport in the Asian Games 2022 and its potential inclusion in the Olympics has not only elevated its status but also opened up avenues for growth, investment, and sponsorship within the sector.
With Finance Minister Nirmala Sitharaman scheduled to present the interim Budget for fiscal 2024-25 in the Lok Sabha on February 1, there is a sense of optimism for the Esports industry in the upcoming year.
The allocation of funds for the Esports industry from the government will help nurture talent, build the necessary infrastructure, and foster an ecosystem that enables the sector to thrive.
Animesh Agarwal, Founder & CEO of 8Bit Creatives and Co-Founder of S8UL, said, "The Esports industry is growing at an impressive percentage and is only forecasted to grow. We hope for fair support and conducive policies from the government in the upcoming budget to further foster this growth."
Lokesh Suji, Director, Esports Federation of India & Vice President of the Asian Esports Federation (AESF), commented, "In the past year, the government has showcased consistent support for the country's Esports industry, laying a strong foundation for the sector's growth. We expect this trend to continue this year and remain optimistic about the upcoming budget.
For establishing the infrastructure necessary for the industry's development and to nurture an Esports ecosystem that positions India as a global Esports hub, we hope to see a dedicated allocation of funds for the Esports sector. Additionally, we eagerly anticipate the introduction of incentives for Indian video game development studios that will not only encourage innovation but also enable homegrown titles to prosper within the community."
K.R.Rohith, CEO of Gods Reign, a leading Esports organization based in Bangalore, said, "Recognizing the exponential growth of the video gaming industry, we hope for the government's consideration and support in encouraging educational programs by adding Esports into Educational Curriculums and skill development initiatives focused on gaming and Esports. This would contribute significantly to nurturing talent within the sector, aligning with the national agenda of promoting digital skills.