Market (Overall)·Updated Apr 30, 2026 by Lumikai
The Indian gaming sector reached a $3.8 billion valuation in FY24 and is projected to grow at a 20% CAGR to reach $9.2 billion by FY29.
India’s gaming ecosystem now includes 590 million users, with average weekly engagement increasing by 30% to 13 hours per user.
Midcore gaming is a primary growth engine, recording a 53% year-on-year revenue increase, while average revenue per paying user rose 15% to $22.
Real-money gaming remains a significant market contributor but is currently experiencing margin compression due to recent regulatory and taxation adjustments.
The broader interactive media and gaming market in India is valued at $12.5 billion as of FY24.
Government recognition of gaming as a 'sunrise sector,' including the formal classification of esports as a sport and the creation of new Centers of Excellence, is driving industry formalization.
The Indian gaming sector reached a $3.8 billion valuation in FY24 and is projected to grow at a 20% CAGR to reach $9.2 billion by FY29.
India’s gaming ecosystem now includes 590 million users, with average weekly engagement increasing by 30% to 13 hours per user.
Midcore gaming is a primary growth engine, recording a 53% year-on-year revenue increase, while average revenue per paying user rose 15% to $22.
Real-money gaming remains a significant market contributor but is currently experiencing margin compression due to recent regulatory and taxation adjustments.
The broader interactive media and gaming market in India is valued at $12.5 billion as of FY24.
Government recognition of gaming as a 'sunrise sector,' including the formal classification of esports as a sport and the creation of new Centers of Excellence, is driving industry formalization.