The year 2023 marked a pivotal period for Indian Esports, defined by significant milestones and remarkable growth. According to the ‘Leveling up: State of India Gaming FY’23’ report by Lumikai in collaboration with Google, India witnessed a surge in its gaming community, reaching 568 million gamers. The gaming market’s substantial growth to $3.1 billion in FY23, projected to hit $7.5 billion by FY28 at a 20% CAGR, showcased the industry’s promising trajectory.
A highlight was India’s debut at the Asian Games 2022, where the League of Legends team secured a commendable fifth place, asserting the nation’s prowess in Esports on the global stage. The Indian government’s amendments to the IT Act distinguishing Esports from real money gaming (RMG) significantly contributed to the sector’s legitimacy, fostering increased sponsorships and investments.
States like Madhya Pradesh, Bihar, and Uttar Pradesh spearheaded initiatives, establishing the country’s first Esports academy and tournaments. Educational institutions integrated Esports into their curriculums, acknowledging its rising significance.
Mr. Lokesh Suji, Director of Esports Federation of India (ESFI) and Vice-President of Asian Esports Federation (AESF), expressed optimism about Esports’ bright future in India. The government’s official recognition of Esports as a multi-sport event, categorized under the Ministry of Youth Affairs and Sports, coupled with infrastructure development, sets the stage for exponential growth.
S8UL, India’s premier Esports organization, clinched prestigious accolades at the MOBIES Awards and the global Esports Awards 2023, affirming the country’s international impact. Mr. Animesh Agarwal, CEO of 8Bit Creatives and S8UL, emphasized the industry’s evolution and the dissolution of the stigma around gaming careers, paving the way for aspiring gamers.
The influx of non-endemic brands into the Esports ecosystem and landmark sponsorships, exemplified by IQOO SOUL’s title sponsorship with Team SOUL, signified a transformative shift. Mr. Animesh Agarwal highlighted the financial backing and increased visibility that non-endemic brands bring to Esports events and creators.
The triumphant return of Battlegrounds Mobile India (BGMI) amplified the industry’s growth, reflecting resilience amid challenges. Mr. Rohit Agarwal, Founder & Director of Alpha Zegus, stressed their focus on content solutions, witnessing exponential growth and significant contributions to partners.
Looking ahead, the inaugural Esports World Cup 2024 and the foray of streaming giants like Netflix and YouTube into gaming signal a revolutionary era for Indian Esports. These transformative factors, combined with other industry trends, promise a dynamic and progressive year ahead.
