The National Law University (NLU) Delhi is preparing to propose substantial revisions in the regulations governing online gaming to the Union Ministry of Electronics and Information Technology (MeitY) in the imminent future. This alteration in strategy arises as MeitY shifts away from the concept of self-regulation within the online casino sector, instead suggesting the establishment of an autonomous regulatory entity to supervise eGaming services and confine them to registered entities operating within India.
As per insights from the Economic Times, NLU Delhi, in partnership with the eGaming Federation (EGF), is actively involving industry stakeholders to influence the trajectory of forthcoming gaming regulations. Raghav Pandey, an associate professor at NLU, affirmed these collaborative endeavors, accentuating ongoing deliberations aimed at soliciting diverse viewpoints from stakeholders to shape the formulation of robust regulations.
Acknowledging the imperative necessity for effective regulations in the gaming domain, Pandey stressed the significance of striking a balance between industry expansion and regulatory supervision. He underscored the value of inclusive consultative processes and exhaustive research to tackle pivotal regulatory hurdles confronting the sector.
Previously, the government had mooted the establishment of self-regulatory bodies for gaming under the IT Rules 2023. However, apprehensions regarding potential industry sway over these bodies prompted MeitY to reassess, ultimately discarding the notion in early 2024.
India’s burgeoning online gaming sector has been advocating for regulatory lucidity to discern permissible gaming practices from gambling endeavors. Entities such as Dream11, Mobile Premier League, Deltatech Gaming, Nazara, and Games24x7, grappling with issues like money laundering and high taxation, are eagerly awaiting regulatory directives.
Anuraag Saxena, CEO of the eGaming Federation, praised the government’s acknowledgment of the sector’s necessity for regulatory clarity. He highlighted the substantial contributions of the gaming industry to India’s digital economy, citing its $3 billion market size, with 80 percent of revenue generated from real-money platforms. Saxena also referenced a report by Winzo Games, indicating India’s rapid ascension as a gaming market in 2023, with 568 million gamers and over 9.5 billion gaming app downloads.
Expressing appreciation to the government for its proactive stance, Saxena emphasized that favorable regulatory policies would nurture responsible industry expansion, ensure consumer safeguarding, uphold ethical standards, and effectively address societal apprehensions surrounding online gaming.
