IGaming Investment in India Experiences a Slowdown

According to the debate over the timing of changes to India’s Goods & Services Tax (GST) is causing a halt in investments in the iGaming sector.

A Significant Drop in Foreign Investments

The Financial Express of India highlights a significant drop in foreign investments in online gaming from $500 million to $61 million between 2021 and 2023.

Why iGaming?

The initial interest in iGaming among Indian players has been impressive, driven by a rise in consumerism, especially in major cities.

However, the lack of clarity regarding the implementation timeline of GST revisions, which would elevate iGaming taxes from 18% to 28%, has created uncertainty.

Consequently, international investors are adopting a cautious “wait-and-see” stance, as noted by Sreedhar Prasad, formerly of KPMG India’s Internet Business division.

India, a Promising Market

India, with its vast population, advancing commercial landscape, sports enthusiasm, and growing individual prosperity levels, represents a promising market.

The broader iGaming industry eagerly anticipates a swift transition to a proactive approach by concerned parties.

They hope that a ‘sooner-rather-than-later’ shift can be made to seize this opportunity, benefiting all stakeholders, including the government.