Mukesh Ambani & Ruchir Sharma On Potential of Online Gaming in India
India’s gaming potential is the town’s talk. The big names in the business and research industries speak about the growth potential of gaming and driving forces in the country. Asia’s richest man, Mukesh Ambani, while talking with Microsoft Corporation CEO Satya Nadella recently, said, “Gaming will be bigger than music, movies and television shows put together… There is a huge potential” As per Economic Times article.
Owing to rising broadband connectivity and a large supply gap in the Indian gaming industry, Ambani sees a big potential for gaming in India. But he didn’t say whether Reliance Jio Infocomm Ltd., his new wireless upstart, would expand into gaming.
According to a KPMG 2019 report titled The Evolving Landscape of Sports Gaming in India, online gaming revenues are projected to grow from 43.8 billion rupees ($610 million) in 2018 to 118.8 billion rupees by 2023.
Writer-analyst Ruchir Sharma spoke recently that gaming is India’s new favorite source of entertainment when discussing the top 10 trends of the coming decade with NDTV’s Prannoy Roy. In the talk, using Sharma’s research data, Roy pointed out that gaming has a bigger global market size compared with music and movies. Sharma believes that this increase in the gaming sector is due not only to the use of smartphones or internet penetration but also to a significant improvement in the quality of the games offered to consumers. According to the research data from Sharma, higher money is spent on gaming than other, more popular, pastimes— Twitter has $8 in income per user, Facebook is $19, Google is $27, whereas Fortnight, that is a game, is $96.
There is indeed an increase in the Indian market for gaming app production companies and India seems to have the world’s highest game downloads. Though, Sharma feels it is not being monetized as much as the business potential permits for the headspace that gaming occupies among consumers.
Making comments on the gaming talks involving Ambani and Sharma, Nitish Mittersain, founder and MD of casual & real-money gaming company Nazara Technologies Pvt Ltd., said, “It’s very exciting for us to see stalwarts like Mr. Mukesh Ambani and Mr. Ruchir Sharma finally talk about gaming and the great opportunity in India today. As India’s largest sports and mobile gaming site, we are witnessing a strong growth momentum in all of our offerings at Nazara and believe it will continue to increase. We look forward to continuing to collaborate with the ecosystem to help make India the world’s largest gaming market”.
Nazara recently revealed its plan to invest some US$ 20 million over the next year in gaming and sports companies in the Indian subcontinent, Africa and the Middle East.