Esport Budget 2022: Post Budget Reaction by Online Gaming Industry

Esport Budget 2022: Post Budget Reaction by Online Gaming Industry: The Finance minister of Government of India has unveiled the Union Budget 2022-23 a few hours back. Online Gaming Industry reacts to the decision made by the finance minister. Here, you will get to know about the gaming changes coming in the next month as Government looks to support Animation,Visual Effects,and Gaming Sectors. Meanwhile, Mr. Rahul Tiwari, the chief financial officer of Games24x7 and Mr. Ankur Singh, CEO & Founder of Witzeal Technologies Pvt. Ltd reacted to the decisions. So, let’s know about it in detail.

Esport Budget 2022: Post Budget Reaction by Online Gaming Industry, Check Full Details

Post Budget Reaction by Online Gaming Industry, Check Full Details and All you need to know about the Union Budget 2022-23

Mr. Rahul Tewari, Chief Financial Officer, Games24x7 said, “The Honorable Finance Minister deserves full credit for announcing a progressive and reform-oriented budget. The gaming industry welcomes the decision to set up a task force for Animation, Visual Effect, Gaming and Comics. AVGC taskforce can provide the long-term policy impetus and bring together the various stakeholders to turbocharge the vibrant ecosystem in gaming and animation. India has a deep and very high quality talent pool of developers and creative artists who will transform India into a global player in the interactive entertainment space in the coming years.

We hope this paves way for regularity clarity for gaming, a sector that has contributed immensely to India’s start-up success in the last few years. In that context, the decision to set up a special committee to reduce regulations for start-ups, and the extension of tax benefits are laudable announcements. It shows the government’s acknowledgement of the start up’s contribution to economic growth. Finally, the commitment to roll out a 5G network in the next fiscal year is a very promising announcement for the tech start up space in general and gaming in particular. “

Esport Budget 2022: Post Budget Reaction by Online Gaming Industry, Check Full Details

Post Budget Reaction by Online Gaming Industry, Check Full Details and All you need to know about the Union Budget 2022-23

“Gaming as a segment is poised to gain with the current initiatives of the government and as an organization, we stand with the Government’s dream of Amrut Kaal.” Mr. Ankur Singh, CEO & Founder of Witzeal Technologies Pvt. Ltd said. “The initiatives proposed to be undertaken by the Government to propel the growth of the economy in this budget are very encouraging. We are particularly thrilled with the fact that the Government has recognized the AVGC as a promising sector providing immense opportunity for the employment of youth.

We see that Government has also identified AI (Artificial Intelligence) as an area which would offer employment to youth, this would be a definitive component of gaming industry. Moreover, the move to set up a task force to build internal capabilities to cater to domestic and international demands will help provide the much-needed push to gaming companies and developers

FM emphasis on the importance of mobile connectivity and broadband especially in rural India, will further boost the Gaming sector and will help the reachability to mass consumers. While an announcement on implementing Bharatnet optical fibre cable contracts through PPP has been made, this will make the digital payment gateway system more robust and resulting to indirect benefit to the E-Commerce and other online platform. Initiatives for 5G and other technologies coupled with benefits for start-ups as well as broadening/encouraging of digital economy would definitely help realise growth of the company in the Amrit Kaal.”

Esport Budget 2022: Post Budget Reaction by Online Gaming Industry, Check Full Details

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