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Gaming Industry Leaders Lauds Union Budget 2022-23

Amid the Union Budget 2022-2023, Finance Minister Nirmala Sitharaman on February 01 said that Animation, Visual Effects, Gaming and Comic (AVGC) has great potential to employ youth. 

“An AVGC promotion task force, with all stakeholders, will be set up to recommend ways to realise this and build domestic capacity for serving out markets and the global demand,” Sitharaman said.

Principal opposition Congress, however, slammed the Sitharaman and Prime Minister Modi for betraying the salaried and middle classes by not providing any relief measures. “India’s salaried class and middle class were hoping for relief in times of pandemic, all-round pay cuts and back-breaking inflation. FM and PM have again deeply disappointed them in Direct Tax measures,” said Congress general secretary and chief spokesperson Randeep Surjewala on Twitter. 

Now, let’s see what industry leaders have to say about the Union Budget 2022. Edited excerpts:

“We welcome the steps by the Finance Minister of India as part of Budget 2022-2023 including the creation of the Animation, Visual Effects, Gaming, and Comic (AVGC) task force. We hope that this task force can help promote the creation of a robust infrastructure for game development with gradual benefits to the esports community. We are also looking forward to the 5G spectrum auction this year. 5G can further promote the latest innovations and mass adoption of technologies like cloud gaming in the country,” said Vishwalok Nath, Director, World Esports Cup

“It is encouraging to finally see the seriousness from our Government towards this sector which has been long neglected. This will definitely help in setting up the policies which would encourage and build our capacities and capabilities to export to the rest of the world; leading to more domestic video game development studios and more investments in the AVGC sector,” said Lokesh Suji, Director, Esports Federation of India and Vice President of the Asian Esports Federation (AESF). 

“It is this continued acceptance that will lead to the progress of the Indian gaming and esports industry. First was esports’ entry in the Asian Games as an official event followed by a government dedicated task force to work with the AVGC sector. I have no doubt that these initiatives as part of the national budget policy highlight the true potential of the Indian gaming & esports segment not only in India but also on the global circuit,” said Sagar Nair, Co-founder and CEO, Qlan, The Gamer’s Social Network. 

“A large part of the creator economy in India is driven around the AVGC category. Gaming in particular is stated to be the torchbearer of the opportunity creation sector with hundreds of platforms and millions of jobs being created around it. We, at Rooter, are excited to be in the middle of this affirmation from the Minister of Finance and would love to work closely with them to build this sector. This sector will also drive a lot of investment in India from global players and we want to help stakeholders build strong thesis and pitch around it,” said Piyush Kumar, Founder and CEO, Rooter, India’s leading Game Streaming and Esports Platform. 

Gaming as an industry has been gaining traction in the country, especially with the digital push over the last few years. AVGC primarily being creative content creation, is human capital intensive and cannot be automated, and are excellent for job creation. The announcement of an AVGC promotion task force is a welcome move for the industry as it will provide means to the new talent in the industry with direction and opportunities and in turn, cater to skilled manpower needs in the gaming space,” said P R Rajendran, Co-Founder and CEO, Next Wave Multimedia.

“It is absolutely encouraging to see the government taking notice and making announcements for the rapidly growing AVGC sector. It will not only help us grow at a faster pace but will also bring validation and credibility for this sector. AVGC is already providing employment to many in the country, and with this promotion task force coming into the picture, it will help the stakeholders like us immensely,” said Abhishek Aggarwal Co-founder and Chief Executive Officer (CEO), Trinity Gaming. 

About Abhishek Sharma

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