At the Natonal Economic Conclave, which was organized by Power Corridors and Interactive Forum on Indian Economy (IFIE) on 28 February 2024 at Hyatt Regency, New Delhiand focused on ‘Modi’s Vision for Viksit Bharat’, Union Minister Anurag Thakur stressed on addressing the ongoing concerns within the skill gaming industry. The topic of discussion at the conclave was about getting into insights of transformative economic strategies for a prosperous India,
During the event, the Union Minister praised India’s economy and strong governance and emphasized that the entire sports and online gaming industry can contribute to the Indian economy in a big way. He said that there is a need to pay more attention to online gaming.
The conclave was attended by representatives from many sectors including the online gaming industry. It was attended by big online gaming companies like Gamescraft, Jupi, Dream11, Games 24*7. Thakur invited Skillhub Online Games Federation to his office to directly discuss the concerns of the online skill gaming industry. At the same time, Anurag Thakur also invited SOG Foundation to solve the issues of skill gaming industry.
Minister Thakur emphasized in his keynote address the government’s dedication to Prime Minister Modi’s goal of India becoming a developed country with the third-largest economy in the world. He emphasized the transformative objective of ‘Viksit Bharat’ and called on stakeholders to take an active role in bringing this vision to reality. He also underlined how much the Indian economy can benefit from the sports and online gaming sectors.
In addition, Minister Thakur underlined how Prime Minister Modi has led India on a transformative path, showing how the country has gone from a condition of scandals and economic decline to being a major player in the world economy. Reiterating the government’s commitment to openness, sound governance, and economic expansion, he highlighted the noteworthy advancements of the previous ten years.
In response to questions posed by the online skill gaming sector, Minister Thakur reiterated that the government is prepared to have a positive conversation and provide a supportive regulatory environment that meets business needs. He underlined the value of moral behavior and responsible gaming while making sure that everyone has an equal opportunity to succeed.
There has been a huge update regarding online gaming. If media reports are to be believed, the government can take a big step in this regard. It is being told that the Central Government may soften its stance on GST demand notice regarding online gaming companies and relax the GST demand between July 2017 to March 2023. The government can also take legal advice to give concession in GST demand.
Legal and industry experts at the Mumbai Conclave organized by IFIE had urged the government to consider the demands of the industry and further enhance the potential of India’s online gaming industry. Former Chief Justice of India K.G. Balakrishnan stressed the importance of regulating the online gaming industry, emphasizing the importance of gaming.
