Year-Ender Special : A Rollercoaster Ride For Online Gaming In 2023

In 2023, the Indian online gaming sector faced turbulence despite showcasing significant potential and growth. Regulatory challenges and the tax burden imposed by the government heightened scrutiny on gamers and entities. According to a recent Ernst & Young report, India's gaming segment has demonstrated substantial growth and economic prospects. With a vast gaming community of 42.5 crores, second only to China globally, the industry experienced a notable 28% CAGR from FY20 to FY23. By FY23, the market size reached 16,428 crores, and estimates project a 15% CAGR, reaching Rs 33,243 crores by FY28. Business Today TV's Karishma Asoodani presents an exclusive report on the regulatory setbacks and challenges faced by the online gaming industry throughout 2023.