Ernst & Young's new report also found that the number of gamers in India is expected to reach 53 crore by FY28 at a CAGR of 5%.

It will set up a Group of Ministers including Amit Shah, Nirmala Sitharaman, Ashwini Vaishnaw and Anurag Thakur.

Following the new taxation policy, most e-gaming brands have paused advertising and are exercising caution. Brands will likely stay away from the ICC World Cup, say industry insiders.

In an open letter, 127 Indian online gaming companies and industry bodies have urged the government for a “viable and progressive GST regime.”

Industry heads express displeasure with the Goods and Services Tax Council's decision to levy 28 percent GST on online gaming.

Union Minister Rajeev Chandrashekar said that under the new rules, online wagering or betting will not be allowed. Industry heads also share their opinions on the new development.

The campaign is a continuation of MPL’s player-first approach and illustrates its commitment towards offering a safe and secure gaming experience that they can trust and enjoy.

In the draft notification by ministry, 'video games' and 'online games played for stakes' are combined under one definition.

FICCI-EY M&E report 2022 predicts that the online gaming segment will reach Rs 153 billion by 2024, to become the fourth-largest segment of the Indian M&E sector.

The report highlights best global practices for taxation, and provides clarity on valuation and applicable GST rates.