India’s gaming market set to grow to $6 billion by 2028

India’s gaming market is projected to grow from $3.1 billion in 2023 to $6 billion by 2028, according to a new report released at the Game Developers Conference (GDC) in San Francisco.

‘India Gaming Market Report,’ an effort between the US India Strategic and Partnership Forum (USISPF) and its member WinZO, was released Wednesday with the opening of the first-ever India pavilion at GDC.

The event signaling collaboration between India and the US in the gaming industry was hailed by USISPF President and CEO Mukesh Agnihotri as an important milestone in India-US relationship.

“The online gaming sector in India is burgeoning, and initiatives such as these would go a long way in fostering collaboration between the two nations, including investment, innovation, and content,” he stated. “We envision a future where our combined creativity fuels the next wave of gaming excellence.”

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The ‘India Gaming Market Report’ forecasts material job creation within the gaming industry, with the current employment of 100,000 professionals expected to go over 250,000 in the coming decade.

The report outlines India’s internet user base, estimated to reach 1.2 billion by 2028, translating to an increase in online gamers from 568 million in 2023 to 893 million in 2028.

India’s gaming market currently holds a 1.1% share of the global gaming market, with the number of gaming companies surging from 25 in 2015 to 1,400 in 2023. India claims a significant share of mobile game app downloads worldwide, accounting for 17% of the total downloads, as indicated by the report.

The event was attended among others by WinZO co-founders Paavan Nanda and Saumya Singh Rathore, India’s Consul General in San Francisco, K Srikar Reddy, and Deputy Consul General Rakesh Adlakha.

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Reddy highlighted India’s digital economy’s potential, its youthful demographic dividend, and the power of storytelling in driving the gaming sector’s growth.

He emphasized the role of every participant present at the India pavilion as digital ambassadors, showcasing not just their work but also representing India on the global stage.

The inauguration of the India pavilion and the launch of the report underscore India’s presence as a player in the global gaming arena, and promises prospects for the industry’s future, Reddy stated.