India’s Gaming Industry Could Create 2 Million Jobs, Unlock $60 Billion Market By 2034: Study
The India Gaming Report 2025 outlines a roadmap that could see India’s current 1.1 per cent share in the global gaming market surge to 20 per cent in the next decade.
India's gaming industry is not just playing for fun — it's playing for serious growth. A new report suggests the sector could become a global heavyweight by 2034, touching a market size of $60 billion and creating over 2 million high-skilled jobs, provided the right policy and investment frameworks are in place.
The India Gaming Report 2025, released by WinZO and the Interactive Entertainment and Innovation Council (IEIC), outlines a roadmap that could see India’s current 1.1 per cent share in the global gaming market surge to 20 per cent in the next decade. But the real game-changer, it argues, will be employment.
Over 2 Million Jobs Up for Grabs
The report places employment at the heart of India's gaming future, predicting the sector could generate more than 2 million skilled jobs, thanks to rising demand for game developers, designers, marketers, and tech professionals. This workforce could also become a driving force behind the export of homegrown gaming IPs, aligning with India’s “Make in India” push.
“With the right regulatory framework, Indian gaming companies could unlock unprecedented investor returns by accessing public markets, attracting FDI across sectors in India,” the report states, underlining the dual opportunity of job creation and financial growth.
IPOs Could Unlock $26 Billion in Investor Value
The study also estimates that gaming startups could collectively unlock $26 billion in investor value through IPOs over the next three years — a figure extrapolated using revenue multiples from listed player Nazara Tech. However, this level of wealth creation hinges on policy clarity and tax norms that support, not stifle, innovation.
The current valuation of India’s gaming sector stands at $3.7 billion (2024), and is expected to more than double to $9.1 billion by 2029, growing at a CAGR of 19.6 per cent.
Real Money Gaming Still Dominates FDI
The report points out that over 90 per cent of the $3 billion in foreign direct investment (FDI) that has come into India's gaming industry so far has flowed into the real money gaming (RMG) segment. Meanwhile, monetisation models such as in-app purchases and advertising have not scaled as effectively, despite strong content consumption.
Gaming already commands 29.6 per cent of India’s new media market, estimated at $12.5 billion, overtaking OTT platforms, animation, social media, and audio. Globally, gaming is now a $300 billion industry — larger than the movie and music businesses combined.
What’s Next?
To truly level up, the report urges policymakers to prioritise a stable, innovation-friendly regulatory environment that encourages long-term investment, public listings, and local content creation. Without such support, India risks falling short of its potential, despite having one of the world's largest and youngest user bases.
The race is on — and India’s next tech-powered employment revolution might just start with a joystick.
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