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India Levels Up: Emerging as a Global Gaming Powerhouse in 2024

The Indian gaming industry is breaking boundaries, redefining innovation, and expanding its footprint globally. Indian gaming companies are witnessing exponential growth. The industry is estimated to reach INR 33,243 Crore by FY28, showing a 15% CAGR. From a nascent market to the world’s fastest-growing gaming hub, India has positioned itself as a vital contributor to the global gaming industry, which is projected to surpass $200 Billion by 2025. 

This explosive growth is fuelled by Indian gaming developers and investment companies that are scaling up studios and pushing the boundaries of creativity and technology. Companies like WinZO are enabling localized gaming experiences for international markets. In a groundbreaking move to elevate India’s position in the global gaming industry, the Department for Promotion of Industry and Internal Trade (DPIIT) has recently signed a Memorandum of Understanding (MoU) with WinZO, India’s largest social gaming and interactive entertainment platform.

This partnership marks a significant step towards establishing India as a global leader in interactive entertainment. It aligns with Prime Minister Narendra Modi’s vision of an Atmanirbhar Bharat (self-reliant India) in gaming and technology.

Aligning with the robust growth trajectory toward the global arena, Nazara Technologies, a homegrown giant and India’s only listed gaming and esports company, has established a strong global presence through strategic acquisitions and partnerships. Cutting-edge developers like Felicity Games and investment powerhouses like Jetapult are also driving the transformation, making India a force to be reckoned with.

Nitish Mittersain – Jt. MD & CEO – Nazara Technologies looked back at 2024 and stated, “As 2024 comes to a close, India’s gaming industry has proven its resilience and potential, emerging as one of the fastest-growing markets globally. What excites me most is the growing alignment between innovation and accessibility—be it through mobile gaming, localized content, or the increasing reach of esports. In 2025, I see India making significant strides toward becoming a global gaming powerhouse, with several key trends driving this transformation.

The widespread adoption of AI and immersive technologies like AR/VR will elevate the quality of gaming experiences and create new opportunities in areas like education, fitness, and community building. Secondly, as regulatory clarity improves, particularly around real-money gaming, the industry will see increased investor confidence and a more robust ecosystem. Finally, the emergence of cross-sector partnerships between gaming, entertainment, and e-commerce will redefine monetization models, creating sustainable growth for developers and platforms alike.

As we look ahead, our focus as an industry should be on nurturing talent, fostering innovation, and ensuring inclusivity in gaming to truly unlock India’s potential on the global stage. The journey has only just begun, and the best is yet to come.”

Jetapult, a strategic investment company, is at the forefront of this revolution. By employing an “Invest & Operate” model, Jetapult aims to help scale gaming studios across emerging markets and was the first international company to make an investment worth $4.5 Million in the Saudi Arabian gaming studio space in 2024. 

“Reflecting on 2024, one thing is clear: the future of gaming will be defined not by geography but by exceptional talent paired with the right strategic support. At Jetapult, we’re actively partnering with studios, not just deploying capital but helping them scale globally through hands-on collaboration.

Our $4.5M investment in Saudi Arabia’s vibrant gaming ecosystem highlights our commitment to the ‘Invest & Operate’ model, providing end-to-end support across development and publishing. As the gaming industry nears $200 billion, success requires more than funding—it demands expertise, infrastructure, and global access. With our deep understanding of the inherent challenges in game development and our platformed approach, we’re helping studios scale sustainability and compete on the world stage,” said Sharan Tulsiani, Co-Founder & CEO of Jetapult.

Indian developers are also making waves with their innovative creations. Felicity Games, founded in 2023, is known for its immersive experiences and unique storytelling; the company has launched over 10 games in its first year, attracting more than a million users across 14 countries. 

Anurag Choudhary – Founder & CEO – of Felicity Games, said, “The Indian gaming industry has undergone a transformative journey, emerging as a global force driven by innovation, talent, and a rapidly expanding audience. At Felicity Games, we’re proud to be part of this revolution. In just one year, our focus on building hybrid casual games that combine global appeal with immersive gameplay has enabled us to launch over 10 titles and engage over a million players across 14 countries. This rapid growth is a testament to India’s ability to create world-class gaming experiences. As we step into 2025, we see immense potential for Indian developers to set new benchmarks, pushing boundaries in creativity and technology and establishing India as a powerhouse in the global gaming ecosystem.”

The backbone of this growth is India’s talent pool, which includes over 450,000 professionals skilled in game design, programming, and animation (source: NASSCOM). Gaming studios thrive in metropolitan hubs like Bengaluru, Mumbai, and Hyderabad, attracting international attention. India’s low production costs, paired with high-quality output, have further made it a preferred destination for global gaming giants.

Investments in the Indian gaming ecosystem have skyrocketed, with $2 Billion poured into the industry in 2023 alone, a 55% increase from the previous year (source: Venture Intelligence). This financial influx is fostering a vibrant ecosystem of startups, mid-size studios, and large-scale developers. The convergence of talent, technology, and capital is setting India on a trajectory to become one of the top five gaming markets in the world. As developers and investors continue to join forces, India is not just catching up—it is redefining the rules of the game.

Nazara is India’s only listed gaming and esports company. It owns the majority of several leading brands and has a presence in India, the US, and other global markets.

In esports, Nazara has India’s leading esports platform, NODWIN Gaming, and Sportskeeda/Pro Football Network, which is in the sports media space. Nazara’s offerings in the interactive gaming segment include gamified early learning ecosystems like Kiddopia and Animal Jam, a leading IP-based gaming studio ‘Fusebox’, India’s most popular cricket simulation franchise, World Cricket Championship (WCC), and a wide portfolio of casual games distributed through telco partnerships in many emerging markets.

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Nazara launched Nazara Publishing, India’s first turnkey publishing platform. The platform provides comprehensive services for local and global game developers seeking to tap into the booming Indian gaming market. It offers end-to-end solutions, including market access and distribution, marketing and promotion, monetisation strategies, localisation and naturalisation, and advanced analytics.

Additionally, Nazara controls Datawrkz, a digital ad tech company supporting its portfolio companies and external clients with demand-side user acquisition and supply-side ad monetization services.

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