Despite GST hike, e-gaming companies revenue up 12% in FY24

India's online gaming industry defied a GST rate hike to reach $3.8 billion in revenue, surpassing social media earnings. Boosted by in-app purchases and a busy sports calendar, the sector saw a 12% growth despite initial concerns. The average weekly gaming time rose to 13 hours, with 23 million new gamers joining the existing 590 million.

Nov 12, 2024 - 01:30
Despite GST hike, e-gaming companies revenue up 12% in FY24

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India's online gaming industry defied a GST rate hike to reach $3.8 billion in revenue, surpassing social media earnings. Boosted by in-app purchases and a busy sports calendar, the sector saw a 12% growth despite initial concerns. The average weekly gaming time rose to 13 hours, with 23 million new gamers joining the existing 590 million.
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