As India strives towards becoming a $5 trillion economy, the upcoming 2023 Union Budget is expected to focus on the online gaming industry. We reached out to Sai Srinivas, Co-founder, and CEO of MPL to understand what are his expectations from Finance Minister Nirmala Sitharaman’s upcoming budget.
Speaking on the expectations, Sai Srinivas, Co-founder & CEO of MPL has expressed his hopes for the upcoming budget of 2023 by stating, “The gaming industry, particularly the online gaming sector, is expected to see a lot of progress this year, especially with the government’s draft online gaming rules that were released earlier this month.”
“The industry hopes to get clarity from the government on the GST mechanism for online gaming, where the industry is looking for clarity on the tax slab applicable to skill gaming,” he said.
“Access to financial support through the “AVGC” fund which was set up in last year’s budget, will provide a major boost to young and talented developers and designers and will help them in their pursuit of creating made-in-India games that can be taken to the world. With the right support and a uniform, progressive policy, India’s online gaming industry can become a leading player in the global digital economy,” sai continued.
Furthermore, the gaming industry is growing rapidly in India and is expected to reach new heights in the coming years. With the right support from the government, the industry can fulfill its potential and make a significant contribution to the country’s economy.