• Mon. Jan 30th, 2023

Saumya Singh Rathore, Co-Founder, WinZO games on the Online Gaming Policy for public consultation released by MoS, MEITY, Shri Rajeev Chandrasekhar…

Jan 3, 2023

“Indian online gaming woke up to a new era with MEITY recognizing the sector and putting up the proposed draft for public consultation today. WinZO welcomes this development and is grateful to the Honourable Prime Minister, MEITY, the Inter-Ministerial Task Force for lending wings to the sector. While the industry would continue to expand in the coming years, driven by innovation in technology, growing culturally relevant IP creation, and increasing access to smartphones and high-speed internet in deeper Bharat, the requisite stability came just in time. The online gaming industry would significantly benefit from a stable policy framework that renders clarity on what is permissible. The sector would evolve to be more accountable and thus safer for the end consumers. The central framework would also put a pause to the knee-jerk blanket bans by states. A more predictable environment would attract increased investments, creating jobs and a new generation of the export industry from India. The sector, however, awaits GST clarity which stands as the biggest survival threat for the entire industry. The sector has over 1000 companies that are less than 24 months old and in the early revenue stages. We are hoping the government will continue to encourage companies to invest in technology and IP creation and consider the survival of the sector by retaining 18% GST on the commission – the only sustainable taxable model.“ Saumya Singh Rathore, Co-Founder, WinZO games.