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DPIIT policy is to up India's global share in USD 300 bn global gaming market

By TIOL News Service

NEW DELHI, NOV 27, 2024: IN a major thrust  to redefine India's enviable position in the global gaming industry, the Department for Promotion of Industry and Internal Trade (DPIIT) signed a Memorandum of Understanding (MoU) with WinZO, India's largest social gaming and interactive entertainment platform.This first-of-its-kind collaboration will focus on building a robust ecosystem of over 2,000 startups, innovators, and students, providing them with mentorship, industry insights, and access to global opportunities. By aligning with Prime Minister Narendra Modi's vision of an Atmanirbhar Bharat in gaming and technology, this initiative will go a long way  to establish India as a global leader in interactive entertainment, capturing a significant share of the USD300 billion global gaming market.

Joint Secretary, DPIIT, Sanjiv Singh said that the  MoU focuses on bridging the talent gap in the sector by equipping professionals with cutting-edge skills in coding, animation, game design, and development. According to a recent USISPF report, India's interactive entertainment sector is projected to grow to USD60 billion by 2034, creating over 2 million jobs. The DPIIT-WinZO partnership is designed to harness this potential by nurturing startups through hackathons, workshops, accelerator programs, and curated pitch events.The Memorandum of Understanding (MoU) spanning over two years also aims to accelerate the growth of India's interactive entertainment sector by fostering innovation, creating skilled talent, and scaling startups to compete on a global stage.

Besides, the essence of this collaboration is the establishment of a Center of Excellence (CoE) by WinZO, in sync with DPIIT. The CoE will serve as a launchpad for startups and entrepreneurs, focusing on critical aspects such as building a skilled, industry-ready workforce, innovating monetization strategies for Indian gaming assets, developing 'Made in India' intellectual property for global markets of world-class quality, attracting foreign direct investment (FDI) and driving manufacturing of interactive technology products in India. By addressing long-standing challenges such as monetization and talent gaps, the CoE will play a pivotal role in shaping the future of India's gaming and interactive entertainment industry.

Additionally, the MoU will expand WinZO's flagship Tech Triumph Program (Bharat Edition), a platform for identifying and mentoring India's top game developers. This program has already showcased India's gaming talent at global forums such as the Game Developers Conference (GDC) and Gamescom LATAM, and will now scale its impact through DPIIT's support.

Sanjiv Singh added that this partnership is a significant milestone in harnessing India's  optimal potential as a producer and exporter. Through the collaboration with WinZO, efforts are afoot  to foster innovation, promote entrepreneurship, and empower startups to manufacture products of global standards. This initiative aligns with our vision of making India a leader in interactive technology, contributing meaningfully to PM Modi's vision of a self-reliant India, added Mr. Sanjiv.


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