Since the Indian authorities’s official recognition of e-sports as a multi-sport occasion, the business has witnessed substantial progress as a new-age sport. The sector’s journey to mainstream recognition reached new heights with its inclusion as an official medal sport within the Asian Games 2022 and its potential entry into the Olympics.

With Finance Minister Nirmala Sitharaman set to current the interim Budget for fiscal 2024-25 within the Lok Sabha on February 1, the e-sports group is optimistic concerning the prospects of presidency help.

Mr. Lokesh Suji, Director of e-sports Federation of India & Vice President of the Asian Esports Federation (AESF) famous, “We hope to see a dedicated allocation of funds for the e-sports sector, alongside incentives for Indian video game development studios. This will not only encourage innovation but also enable homegrown titles to prosper within the community. To ensure the long-term success of our e-sports athletes and attract more aspiring players to pursue careers in e-sports, we also hope for tax relief for athletes on winnings from e-sports tournaments. ESFI will remain committed to working closely with the government to further elevate the status of Esports in the country.”

According to the “Leveling up: State of India Gaming FY’23” report by Lumikai in collaboration with Google, the Indian gaming business clocked $3.1 Bn in FY23 and is ready to hit $7.5 Bn by FY28.

“The e-sports 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,” stated Mr. Animesh Agarwal, Founder & CEO of 8Bit Creatives and Co-Founder of S8UL.

Recognizing the business’s potential, states like Bihar, Uttar Pradesh, Madhya Pradesh, and Kerala are actively partaking with Esports by organizing tournaments, establishing e-sports academies, and partnering with the sector’s organizations or publishers.

Highlighting how the involvement of state governments will be leveraged to allow the event of the video gaming group, Mr. Okay.R. Rohith, CEO of Gods Reign commented, “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. In addition, we earnestly suggest the allocation of funds to each state government for the organization and promotion of State e-sports Championships. This collaborative effort with prominent e-sports organizations at the state level, starting from the school level to the national level, will undoubtedly contribute to the organic growth of e-sports across the nation.”

Furthermore, there may be additionally a name to cut back the GST on e-sports actions from 28% to 18% and introduction of laws.

“From budget 2024, one of the major steps I look forward to is more ‘Esports’ based activities moving to 18% slab (from 28% slab). Apart from this, I’m also looking forward to the government encouraging more state governments to assign budgets for the growth and promotion of e-sports (similar to Bihar). Lastly, more regulations in terms of in-game and tournament winnings are expected to come in,” emphasised Mr. Rohit Agarwal, Founder & Director, Alpha Zegus.

With all eyes on the upcoming funds, the e-sports group is hopeful that authorities help will pave the best way for a sustainable and thriving Esports ecosystem in India.