Esport Budget 2022: Post-Budget Reaction From The Online Gaming Industry: The Finance Minister of the Government of India has presented the Union Budget 2022-23 a few hours ago. The online gaming industry reacts to the decision made by the finance minister. Here, he will learn about the changes to gaming coming in the next month as the government looks to support the animation, visual effects and gaming sectors. Meanwhile, Mr. Rahul Tiwari, Chief Financial Officer of Games24x7 and Mr. Ankur Singh, CEO and Founder of Witzeal Technologies Pvt. Ltd reacted to the decisions. So, let’s know it in detail.
Esport Budget 2022: Post-Budget Reaction From The Online Gaming Industry, Check Full Details
Mr. Rahul Tewari, Chief Financial Officer of Games24x7, said: “The Honorable Minister of Finance deserves all the credit for announcing a progressive and reform-oriented budget. The gaming industry welcomes the decision to establish a working group for Animation, Visual Effects, Games and Comics. The AVGC working group can provide long-term policy momentum and bring diverse stakeholders together to empower the vibrant ecosystem in gaming and animation. India has a very high quality and deep talent pool of creative developers and artists that will transform India into a global player in the interactive entertainment space in the coming years.
We hope this paves the way for clarity on gaming regularity, a sector that has contributed enormously to the success of Indian start-ups in recent years. In that context, the decision to create a special committee to reduce the regulation of start-ups and the extension of tax benefits are laudable announcements. It shows the government’s recognition of the startup’s contribution to economic growth. Finally, the commitment to roll out a 5G network in the next fiscal year is a very promising announcement for the tech startup space in general and gaming in particular. “
Esport Budget 2022: Post-Budget Reaction From The Online Gaming Industry, Check Full Details
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“Gaming as a segment is poised to win from the current government initiatives and as an organization we support the dream of the Amrut Kaal government.” Mr. Ankur Singh, CEO and Founder of Witzeal Technologies Pvt. Ltd said. “The initiatives proposed to be undertaken by the Government to boost the growth of the economy in this budget are very encouraging. We are particularly excited that the Government has recognized AVGC as a promising sector that offers a huge opportunity for youth employment.
We see that the Government has also identified AI (Artificial Intelligence) as an area that would offer employment to young people, this would be a definite component of the gaming industry. Additionally, the move to establish a task force to build in-house capabilities to serve domestic and international demands will help provide much-needed momentum to game companies and developers.
FM’s emphasis on the importance of mobile connectivity and broadband, especially in rural India, will further boost the gaming sector and help accessibility to mass consumers. While an announcement has been made on the implementation of Bharatnet fiber optic cable contracts through PPP, this will make the digital payment gateway system more robust and cost-effective. to indirect benefit for e-commerce and other online platform. Initiatives for 5G and other technologies, along with the benefits for start-ups, as well as expanding/encouraging the digital economy, would definitely help achieve business growth at Amrit Kaal.”
Esport Budget 2022: Post-Budget Reaction From The Online Gaming Industry, Check Full Details
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