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Nikhil Kamath: Co-founder At Zerodha
Data suggests that young folks under 30 spend more time on social media and gaming and less time on TV and physical sports.
Zerodha’s billionaire Nikhil Kamath sat with higher execs of gaming companies and gamer Animesh Agarwal (8bit Thug) to talk about the emerging gaming industry in India in his latest “WTF is” podcast, launched by himself last year on Youtube.
Nikhil discusses gaming career, and how gaming is viewed as a profession in India.
He questions gamer Animesh about the craze of Pubg in India and how BGMI differs from the earlier version.
Animesh clarifies that “it’s an India-specific game” and “Pubg mobile was a Tencent game, the biggest gaming company in the world”
He also enquires about a gaming influencer’s income in India.
Animesh says they earn about “1 million dollars” at the very least, and professional gamers competing at the competitions earn about “30-35 lakhs per year”.
Nikhil goes on to ask the US-based gaming entrepreneur Joseph Kim about India’s most downloaded game.
Kim says it’s Gametion’s Ludo King while admitting that India’s gaming industry is still untapped.
He also revealed why India lags behind other developed countries in nurturing gaming entrepreneurs.
“Gaming is not looked upon favourably by a lot of Indian parents…they would rather want their kids to join Google, FB rather than joining a gaming company”
The podcast comes after Nikhil Kamath invested Rs 100 crore in the gaming startup Nazara Technologies earlier this year.
Kamath shared the episode teaser yesterday on his social media accounts:
“This isn't just a hobby anymore but a serious career option that deserves validation from parents and institutions alike.
What worked in the last 20 years will likely not work in the next 20. Interactive forms of entertainment are increasingly taking market share, let's all give the gaming industry the importance it deserves.
@8bit_thug @hisohn @jokim1 @mittersain”: Kamath wrote on X.
This isn't just a hobby anymore but a serious career option that deserves validation from parents and institutions alike.
— Nikhil Kamath (@nikhilkamathcio) May 6, 2024
What worked in the last 20 years will likely not work in the next 20. Interactive forms of entertainment are increasingly taking market share, let's all give… pic.twitter.com/7G17IL9j0v
Indian Gaming Industry:
As per the consulting firm EY's report for the year 2023, India's online gaming industry has grown to Rs 16,428 crore and is expected to employ 250,000 individuals by 2025.
Raghav Anand, Partner at EY, stated that the online gaming industry in India is rapidly expanding, indicating a significant economic potential.
With a gaming community of 42.5 crore individuals - second only to China - the industry can boost foreign direct investments, create jobs, and stimulate investments across various sectors.
