Union Budget 2024 Expectations for India’s Thriving Esports Industry
- Rohit Agarwal
Indian Esports and Gaming Industry leaders/stakeholders shared the pre-budget expectations for Union Budget 2024.
Esports in India is no longer just a game. Recognized as a multi-sport event, Asian Games debut and Olympic hopes, the industry roars with potential. Recently, The first state level esports open championship have been hosted in Bihar. Bihar government also announced the esports and gaming to be added in academics. As Finance Minister Nirmala Sitharaman prepares to present the interim Union Budget 2024 on February 1st, excitement electrifies the air.
Here, key stakeholders across the Indian Esports and video-gaming landscape share their pre-budget expectations:
Mr. Animesh Agarwal, Founder & CEO of 8Bit Creatives and Co-Founder of S8UL. “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.”
Mr Lokesh Suji, Director, Esports Federation of India & Vice President of AESF. “In the past year, the government has showcased consistent support for the country’s Esports industry. It lays a strong foundation for the sector’s growth. We expect this trend to continue this year and remain optimistic about the upcoming Union Budget 2024.
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.
To ensure the long-term success of our Esports athletes . To attract more aspiring players to pursue careers in Esports, we also hope for tax relief for athletes on winnings from Esports tournaments. ESFI will remain committed to working closely with the government to further elevate the status of Esports in the country.”
Mr. Rohit Agarwal, Founder & Director, Alpha Zegus. “From Union 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 government to assign budgets for the growth and promotion of Esports (similar to Bihar). Lastly, more regulations in terms of in-game and tournament winnings are expected to come in.”
Mr. K.R.Rohith, CEO of Gods Reign, a leading Esports organization based in Bangalore. “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.
In addition, we earnestly suggest the allocation of funds to each state government for the organization and promotion of State Esports Championships. This collaborative effort with prominent Esports organizations at the state level, starting from the school level to the national level, will undoubtedly contribute to the organic growth of Esports across the nation.”
