According to a recent report, the Indian iGaming market is expected to generate an additional 140 billion Indian Rupees in tax revenue and create 150,000 jobs ($1.68 billion) during 2024-2025.
The report emphasizes that although online gaming revenue is lower than that of China, the USA, Japan, and the UK, it has the highest revenue growth rate over the past six years, with a compound annual growth rate of 30% from 2017 to 2023.
An average expansion pattern of 20% over the past twelve to eighteen years is expected to lead to annual revenues reaching $2.4 billion by the fiscal year 2029, achieving a strong compound annual growth rate.
Moreover, due to a robust compound annual growth rate of 27.5% during the fiscal years 2019-2022, the internet gambling industry has seen significant growth, which has greatly excited both customers and companies.
The fiscal returns associated with this growth will include the Goods and Services Tax of 16 billion Indian Rupees ($191.6 million) collected by the government from gaming companies in the fiscal year 2022-23.
