Online gaming industry demands to make regulator, said- this sector has wide potential to attract investment.
The online gaming industry has demanded the government set up a self-regulatory body.
The industry says not only fantasy sports, but standard regulation is needed for the entire online skill gaming sector. The Online Rummy Federation said that like fantasy sports, the entire skill gaming industry of India is bound to face different rules and laws state-wise.
The skill gaming industry needs uniform regulation on a large scale. The NITI Aayog has recently advocated to set up a self-regulatory body for online fantasy sports.
Also suggested that people below 18 years should not be part of such gaming Deepak Gulapalli, CEO of DigitalWorks, said that the gaming industry in India has attracted many investors and supported development.
Being a self-regulatory body will end many uncertainties faced by foreign investors and open the way for foreign investment of billions. This will also create employment and increase tax revenue.
On the contribution of the skill gaming industry in the path of development, Games 24 Buy 7 co-founder and CEO Bhavin Pandya said that the sector has the potential to become a better and more responsible medium of entertainment.
He said that fantasy sports and other skill gaming have a lot in common. The NITI Aayog draft should cover the skill gaming industry on a broader scale.
Share Market Tips: General budget is going to come, will the market fall drastically. The FPI investment was less than Rs 5000 crore, raising doubts about the continuity of the investment.
Meanwhile, the Nifty has reached a new high and this is not digging from the street. Everyone is expected to decline. We also had our view last week that the fall may only come with a strong event like budget, as it seems quite difficult to break the current upsurge.
As per Thursday’s data, FPI investment of Rs 18,490 crore has come in December. This is lower than in November 2020 and December 2020, but sufficient to maintain the order of bounce.