The gaming industry is witnessing unprecedented growth as the market is estimated to reach $3.9 billion by 2025. Online gaming has been gathering a lot of popularity, especially skill games and fantasy sports. The whole business of streaming services, online gaming, is another sunrise sector which has been spoken about extensively.
Union Minister, Ministry of Electronics and Information Technology, Ashwini Vaishnaw spoke about Digital Economy & Sports Tech in an exclusive interview with India Ahead News.
“I would like to take a look at a comprehensive way, to look at the whole digital economy in a very comprehensive manner. There are two legs of it,” Ashwini Vaishnaw said about the Union Budget 2022-23 and its recommendations as far as the online gaming sector is concerned.
He explained that one leg is the electronics manufacturing part, which has progressed well. He said that one wouldn’t have even considered India as a destination for electronic manufacturing with the efforts that have been put in the last seven years.
“Today we have reached $75 billion in electronics manufacturing, which is five and a half lakh crores, 22 lakh employment in this sector alone. And the way we are moving, we are targeting $300 billion, which is 22-23 lakh crores in the electronics manufacturing sector in the next five years. That’s the level of progress which is being made on the manufacturing side,” he added.
He further explained that the second side is creating public platforms like the UPI, Digital Health mission, and Covenant app.
“These are public like the Adhar. These are public digital platforms which then provide the basis for private initiative to come on it, let’s say UPI today, UPI is a public platform on which there are multiple innovative applications which come and which provide the service which people want to have,” he said.