Wednesday , September 28 2022

Skills, Gaming & The Economic Rebound

Dr. Subi Chaturvedi, Chief Corporate Affairs & Policy Officer, Zupee gauges the roadmap for India to reach the trillion-dollar digital economy dream by 2025

Having just completed the sixth anniversary of Digital India, one of PM Modi’s marquee programs, he had expressed that the next decade will belong to technology. He talked about creating a pillar where technology will work along innovation, upskilling, and reskilling to create an era that will be truly global, that will explore India’s place in the global value chain.

Echoing the same, Dr. Subi Chaturvedi, Chief Corporate Affairs & Policy Officer, Zupee mentions that despite the pandemic, online gaming and digital media are the only segments to register considerable growth in 2019-2020. In fact, online gaming is the only segment that exceeded the expected growth, standing at a 43% YoY. Much credit for its growth can be attributed to transaction-based games, showing 31% growth in online game. 

“Higher data consumption, cheapest prices for data and access, 700m people online, consistently lowering prices of smartphone, when clubbed with renewable power and local language content, makes India a big hub of gaming. Hence, this is where the next decade of online gaming comes in,” she adds. 

She then delves into the pull and push factor involved- how the government is trying to pull the country back from the pandemic and on the other hand, pushing people to connect as much. “When we talk of access, the critical thought is what we can do as a nation to connect and have safe a product experience online. This is where gaming and gamification come in,” she points. 

So, we are looking at India to reach 65.7cr gamers by 2025, which currently stand at 400m. As for the revenue projections by KPMG, we are to see over 29,700cr by 2025. The game installs too are at a staggering 7.3 bn. “This is not a fad that will disappear sometime soon. This is not something that started in a garage. This is a serious sector that global investors are looking at,” she marks. 

Expounding why online gaming matters, she asserts three key factors- Economic Growth (pushing India towards the trillion-dollar digital economy dream by 2025), Engagement (a proven tool for improving mental wellbeing through interactive engagement) and Skilling (solving the skilling crisis through an interactive, affordable and entertaining medium).

Giving us a sense of the challenges that surround the online gaming sector, Chaturvedi describes that the uncertain regulatory environment curtails the growth of this promising sector. Second, skilled manpower to meet the growing demands of the industry. Lastly, combatting unscientific and regressive attitudes often refrain the industry from growing. 

She also throws light on the various opportunities it offers. “A central progressive policy framework to protect investors and startups, innovation in learning and skilling to prepare for the jobs of tomorrow and further growth of new users & new territories.”

Chaturvedi is hopeful to see a trillion-dollar digital economy soon, however, a public-private effort is required to bridge the digital divide in India. For this, programmes (like Bharat Net, E-Kranti) and areas (electronics manufacturing, IT for jobs) will emerge as key drivers to bring about a paradigm shift.

About Soumya Sehgal

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