Indian Esports Has High Hopes For The Upcoming Interim Budget

Along with the 140 crore Indians, the stakeholders of the Indian esports industry eagerly await the upcoming Union Budget for 2024. Every year, the Union Budget brings a lot of nervousness for all Indians as it decides the beliefs and the financial support that the government offers. The Indian esports stakeholders, players and fans replicate the same nervousness with the hopes of the government acknowledging esports and creating policies favouring the ecosystem. Finance Minister Nirmala Sitharaman will present the Union Budget 2024 on 1 February 2024.

In 2023, the Indian esports and gaming ecosystem showcased its power in front of the world. Revenant Esports in Brawl Stars and GodLike Esports in Call of Duty Mobile represented India and impressed everyone with their performances. S8UL Esports won the Esports Content Creator of the Year award at the Esports Awards and the Global Impact Award at MOBIES in 2023. 

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"We hope for fair support and conducive policies from the government in the upcoming budget", Animesh Agarwal On Union Budget 2024

S8UL has pioneered the Indian esports industry and played a crucial role in bringing Indian esports to the world map. Animesh "Thug" Agarwal, Founder and CEO of 8Bit Creatives and Co-Founder of S8UL, expressed his expectations by saying:

The Esports industry is growing at an impressive percentage and is only forecasted to grow. We hope for fair support and conducive policies from the government in the upcoming budget to further foster this growth.

India also witnessed the first-ever international Valorant tournament, Convergence 2023, by Riot Games and The Esports Club. The publishers show faith in Indian esports by organizing a high-scale international LAN like Convergence 2023 in Bangalore, India. 

Stepping into 2024, we stand at the cusp of an exciting era for Indian esports. The recently concluded Convergence, our first-ever International Valorant tournament in partnership with Riot Games, showcased the immense potential within our community. As we eagerly anticipate the Union Budget, we are optimistic about the government's vision for esports. The success of Convergence 2024 serves as a testament to the passion and skill that defines our esports landscape. With the right support, we believe that this industry can be a driving force for innovation, entertainment, and national pride. Together, let's unlock new horizons and pave the way for a thriving future in Indian esports. - Vamsi Krishna, Founder of The Esports Club.

India was also part of the IESF Asian Championship, with Indian teams and players giving tough fights to other nations to bring the country's name to the top. With hopes of fund allocation for Indian esports and providing incentives to Indian gaming studios, here is what Lokesh Suji, Director of the Esports Federation of India and Vice President of the Asian Esports Federation, said:

For establishing the infrastructure necessary for the industry's development and to nurture an Esports ecosystem that positions India as a global Esports hub, we hope to see a dedicated allocation of funds for the Esports sector. Additionally, we eagerly anticipate the introduction of incentives for Indian video game development studios that will not only encourage innovation but also enable homegrown titles to prosper within the community.

The Indian stakeholders are also looking for the government to move 'Esports' based activities to a lower tax slab. Rohit Agarwal, Founder and Director of Alpha Zegus, expressed the concern by saying,

From budget 2024, one of the major steps I look forward to is more 'Esports' based activities moving to 18% slab (from 28% slab). Apart from this, I'm also looking forward to the government encouraging more state governments to assign budgets for the growth and promotion of Esports (similar to Bihar). Lastly, more regulations in terms of in-game and tournament winnings are expected to come in.

Recently, the Bihar government acknowledged esports and announced the addition of esports to school and college curricula. K. R. Rohith, CEO of Gods Reign, wants the government of India to take steps in the same direction and expressed his vision by saying,

Recognizing the exponential growth of the video gaming industry, we hope for the government's consideration and support in encouraging educational programs by adding Esports into Educational Curriculums and skill development initiatives focused on gaming and Esports. This would contribute significantly to nurturing talent within the sector, aligning with the national agenda of promoting digital skills.