Market (Overall)·Updated Mar 17, 2026 by Lumikai
The Indian gaming market reached $3.1 billion in FY23 and is projected to grow at a 20% CAGR to $7.5 billion by FY28.
The player base grew 12% to 568 million users, with non-metro regions now accounting for 66% of the total demographic.
While the Real Money Gaming (RMG) sector grew 33% in FY23, future growth is expected to slow due to new GST and TDS regulations, which 60% of users believe will reduce their play frequency.
Non-real money gaming segments, specifically casual and midcore titles, are driving market expansion, evidenced by a 37% increase in in-app purchase revenue for non-RMG titles.
Engagement metrics remain robust, with average weekly play time increasing 20% to 10-12 hours and total annual downloads reaching 15.4 billion.
Despite a 75% decrease in venture capital funding during 2023, the government is actively supporting the industry through the recognition of esports and the creation of an AVGC taskforce to establish India as a global development hub.
The Indian gaming market reached $3.1 billion in FY23 and is projected to grow at a 20% CAGR to $7.5 billion by FY28.
The player base grew 12% to 568 million users, with non-metro regions now accounting for 66% of the total demographic.
While the Real Money Gaming (RMG) sector grew 33% in FY23, future growth is expected to slow due to new GST and TDS regulations, which 60% of users believe will reduce their play frequency.
Non-real money gaming segments, specifically casual and midcore titles, are driving market expansion, evidenced by a 37% increase in in-app purchase revenue for non-RMG titles.
Engagement metrics remain robust, with average weekly play time increasing 20% to 10-12 hours and total annual downloads reaching 15.4 billion.
Despite a 75% decrease in venture capital funding during 2023, the government is actively supporting the industry through the recognition of esports and the creation of an AVGC taskforce to establish India as a global development hub.