Recognise e-sports, gaming industries, IEBF co-founder Gupta asks Centre
The Hindu
Recognizing sunrise industries like e-sports, gaming, music, and events is crucial for India's youth market growth.
“India needs to ‘immediately’ recognise sunrise industries such as e-sports, gaming, music, events and develop world class infrastructure related to these to tap the potential of the Indian youth market,” Sunil Kumar Gupta, Co-founder of Indo European Business Forum (IEBF) said.
“As states such as Maharashtra, Uttar Pradesh and Andhra Pradesh look to double their GDP in next few years, 20% of this incremental growth will come from the digital economy,” he said in a statement.
Calling these businesses FMBs, — Fast Moving tech-driven Businesses — Co-Founder of Paymate Probir Roy said, “When India doubles its GDP in next few years. I expect 1/5th of that incremental GDP growth to come from gaming , e-sports and payments, which are consumption and B2B focused.”
According to Rajendra Bagade, Director of India Global Chamber of Businesses, at least a few progressive Indian states must take a lead in this front.
“States such as Maharashtra, Uttar Pradesh and Andhra Pradesh have to be proactive in quickly building new markets which would cater to the burgeoning millennial cohort,” he said in the statement.
“These are at the cusp of lifestyle-entertainment-micropayments trends,” he added.
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