“It is favorable towards new-age industries like the video games industry and the esports sector, ” Reacts Mr. Rajan Navani, Founder, JetSynthesys to Union Budget 2023: Esports and Online Video games have the power to add incremental value to India’s GDP and the policies and measures announced in the latest budget will propel India towards the goal of being a USD 1 trillion digital economy as part of USD 5 Trillion economy over the next few years.
Mr. Rajan Navani, Founder and CEO, JetSynthesys and Chairman of the CII Council on Future Businesses and the National President of the India Digital Gaming Society reacted to the Union Budget 2023. He feels it’s a progressive and inclusive battle.
Mr. Rajan Navani reacts to the latest Budget
“This is a progressive and inclusive budget, one that is especially favorable towards new-age industries like the video games industry and the esports sector. It is also a favorable budget to realize the vision of Digital India and the spirit of entrepreneurship and innovation. Today, 1 in 10 people in the world is an Indian under the age of 25. These young guns or Gen Zs are looking at a budget that will empower them not only to be able to improve their livelihood but to also help them get skilled better and build capacity to unlock their true potential. “
Budget 2023-24 Key Takeaways
The Budget had a few focus areas that promise a great year ahead for the video games and esports industry –
- Boosting emerging tech. The focus on new-age skills like Coding, AI, Robotics, Mechatronics, 3D, printing, Drones, IoT, and the setting up of dedicated centers of excellence for Artificial Intelligence in top educational institutions to realize the vision of “Make AI in India’ and to ‘Make AI work for India”, bodes well for video gaming and esports since the next stage of growth will be unlocked on the back of emerging tech,
- Infrastructural support with the boost in the production of mobile phones and the launch of 100 labs to effectively develop 5G services,
- Skilling, job creation, and boosting entrepreneurship. The PM Kaushal Vikaas Yoajna 4.0 to skill Indian youth in new-age courses for Industry 4.0 is great news, not just for our young population but also for all enterprises in the digital and emerging tech space. With the launch of the National Skill Development Mission, the National Policy on Skill Development and Entrepreneurship, and the setting up of 30 Skill India International Centres, the future is indeed promising and bright for billions.
- Additionally, the launch of the unified “Skill India” platform to enable demand-based formal skilling, linking with employers (including MSMEs), and facilitating access to entrepreneurial schemes is an overall strong step forward in building and promoting the spirit of entrepreneurship in the country.
So, it remains to be seen how things pan out in the coming days. Meanwhile, readers can also check out other stories. So, stay tuned for more updates.
