THE GOVERNMENT'S MOVE to regulate e-sports and place higher due diligence requirements on online gaming companies is a shot in the arm for the sunrise sector as clear rules are expected to spur more entrants, boost investor confidence and create new jobs.
Recently, the Indian government recognised e-sports as part of mainstream sports and made the Ministry of Electronics and Information Technology (Meity) the nodal agency for all online gaming-related matters. In the first week of January, MeitY released draft amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, to regulate the industry that has revenues of $1.2 billion, per Invest India the national investment promotion and facilitation agency.
The proposals legalise the status of the online gaming industry, spell out regulatory compliance requirements and streamline governance processes. MeitY has invited comments till the middle of the month.
This story is from the February 05, 2023 edition of Business Today India.
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This story is from the February 05, 2023 edition of Business Today India.
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