Amidst tax and regulatory challenges that drew attention to the online gaming industry throughout 2023, Nitish Mittersain, the joint MD and CEO of Nazara Technologies, sees a promising future for India in the gaming sector. Mittersain envisions India becoming the gaming nation of the world over the next decade, citing factors such as the increasing number of mobile users, improved data speed, affordability, and the growing digital payments ecosystem as contributors to the vast gaming market in the country.
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Make in India – A Strategic Opportunity for Gaming Industry Growth
Nitish Mittersain emphasizes the importance of the “Make in India” initiative, viewing it not only as a significant opportunity but also a crucial one for Indian developers to capture. He believes that India has great development capabilities and should focus on creating fantastic games for the domestic market rather than solely relying on global games and developers. Mittersain asserts that aggressive efforts are needed to propel India towards becoming the gaming hub of the world in the coming decade.
Anticipating Transformations in Gaming: Web3, VR, and AI
Looking ahead, Mittersain anticipates substantial transformations in the gaming industry within the next three years. These changes are expected to be driven by the adoption of Web3, virtual reality (VR), and artificial intelligence (AI). To fully capitalize on these opportunities, he emphasizes the need to address regulatory challenges, promote responsible gaming practices, and foster a dynamic domestic game development scene.
Nitish Mittersain:Budget 2024 Wishlist – Special Economic Zone and Incentives
Mittersain advocates for establishing a special economic zone dedicated to game development and various incentives for the gaming sector in the upcoming Budget 2024. Recognizing the potential of the gaming industry to contribute to economic growth, he stresses the need for policy support to boost innovation and entrepreneurship in this rapidly evolving sector.
Industry Expert’s Perspective – Government’s Role and Talent Skilling
Manish Agarwal, Founder of Kratos Studios, shares his anticipation for the government to create a framework for global capability centers in India and invest in talent skilling for the gaming industry. This proactive approach is seen as essential for India to emerge as a global player in the gaming space.
Zype’s Loan Disbursement Milestone and Future Goals
In a separate development, Zype, a digital lending startup founded by Yogi Sadana in 2022, claims to have disbursed over one lakh loans since its inception. With its app offering instant personal loans up to ₹5 lakh, Zype aims to reach a loan book size of ₹500 crore by mid-2024. Yogi Sadana outlines Zype’s mission to make credit easily accessible to the next generation of borrowers in India, as he discusses the startup’s journey in an interview with CNBC-TV18.