Distinguishing 'Game of Skill' vs 'Game of Chance' for FDI: DPIIT's Initiative

The DPIIT has circulated a note seeking views from various ministries on differentiating between online 'Game of Skill' and 'Game of Chance' for FDI purposes. This distinction is crucial to attract foreign investments. Prime Minister Modi emphasized the potential of Indian talent in the gaming industry during his Independence Day address. The industry is rapidly growing, with projected revenues doubling to USD 6 billion by 2028.

The Department for Promotion of Industry and Internal Trade (DPIIT) has initiated deliberations to distinguish between 'Game of Skill' and 'Game of Chance' in the online gaming industry to better facilitate foreign direct investment (FDI), according to a senior official.

Prime Minister Narendra Modi, in his address during the 78th Independence Day celebrations, called upon Indian professionals to lead the global gaming industry, leveraging the nation's rich cultural heritage.

A joint report suggests India is the fastest-growing mobile gaming market, with annual revenues expected to double to USD 6 billion by 2028. The gaming industry's rapid evolution heightens the need for clear regulatory distinctions to foster growth and FDI.

(With inputs from agencies.)