Online gaming industry adopted a voluntary ‘Code of Ethics for Online Gaming Industries’ at the Indian Gaming Convention (IGC). The code, spearheaded by the Internet and Mobile Association of India (IAMAI), was signed by the Federation of Indian Fantasy Sports, the E-Gaming Federation, and the All India Gaming Federation (AIGF). It serves as a collective commitment to fostering a secure, reliable, and responsible digital gaming ecosystem prioritizing user protection.
The event featured insightful discussions among industry experts on public policy requirements and regulatory frameworks. It also featured discussion on online gaming industry’s contribution to digital India’s expansion. At the opening session, renowned consulting firm Ernst & Young (EY) unveiled an independent report titled ‘New Frontiers: Navigating the Evolving Landscape of Online Gaming Industry. The report underscores the industry’s growth potential and outlines its future prospects.
Industry leaders talks about Online Gaming at Indian Gaming Conference 2023
“We at IAMAI are happy to have curated the Voluntary Code of Ethics for Online Gaming Intermediaries. This has been signed by four industry bodies representing the digital gaming sector in India. This is a progressive step towards building a transparent and accountable gaming ecosystem with a focus on consumer protection.” said Dr. Subho Ray, President, IAMAI.
Mr. Joy Bhattacharjya, Director General, FIFS, said, “With close to 50 crore actively engaged users, India’s gaming industry is a sunrise sector. The ‘Code of Ethics’ for Online Gaming intermediaries reinforces the industry’s commitment towards growing the sector. It also contributes to the Hon’ble Prime Minister’s vision of becoming a $1 trillion Digital economy and creating a safe, trusted and accountable gaming ecosystem.”
Mr. Anuraag Saxena, CEO EGF, said “The online skill gaming industry is making great strides in contributing to India’s digital economy. Seeing the sector proliferating with new-age technologies, trends, and consumer and investor interests driving innovation is encouraging. The year 2023 has been eventful for the sector. The immediate imperative is the implementation of proposed IT rules by establishing the SRBs with regulatory oversight. We believe that these rules will play a crucial role in creating a safe and transparent gaming ecosystem. It will harness the potential of the sector for greater economic benefits.”
Mr. Roland Landers, CEO, AIGF, said, “India’s online gaming industry has grown phenomenally so far and the next level of growth is highly dependent on a well-defined regulatory framework. We are committed to building a responsible and ethical industry which puts a strong focus on educating players about gaming responsibly, implementing self-checks and self-exclusion among other things. At AIGF, we strongly believe in balancing growth and innovation with safeguards for the protection of users, and we believe this Code of Ethics will go a long way towards our existing efforts towards the same.”
Through sessions on pertinent issues such as ‘Building a Robust National Regulatory Framework for Online Gaming’, industry stakeholders engaged in dialogues highlighting the industry’s collective acknowledgement of the need for clear and comprehensive regulations.
A report titled ‘Regulatory Roadmap for Online Real Money Gaming,’ by Parinam Law Associates, offered critical recommendations for a regulatory framework. It balances the interests of all stakeholders, ensuring responsible growth in the online gaming industry in India.
Shri Rajeev Chandrasekhar, Honourable Minister of State for Skill Development and Entrepreneurship and Electronics and Information Technology, Government of India, also addressed the IGC through a written message. In his message, he emphasised the importance of the Online Gaming industry. He said, “I would like to reiterate and reaffirm that the Government of India considers online gaming as an important part of our $1 Trillion Digital Economy Goal.”
He added, “Our approach is to catalyse the startup and innovation ecosystem while ensuring the safety of gamers including children, and unambiguously prohibiting games promoting wagering, addiction and user harm.”
The conference was supported by IT&C, Government of Telangana and the Department of Electronics, IT, BT and Science & Technology, Government of Karnataka. Valueleaf was the Platinum Partner, Oneplus India was the Session Partner, and Castler was the Escrow Banking Partner of event.
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