The government is building a comprehensive framework for operating online gaming platforms to regulate them without impeding their expansion. The MeitY met with almost forty gaming platforms, including Galactus Funware Technology and some All India Federation delegates, to discuss strategy.
These gaming companies constitute some of the leading companies in the i-gaming sector. The Ministry of Electronics and Information Technology aims to ensure gaming platforms are properly operated in the country.
The MeitY, along with the leading gaming companies, plan to work together to ensure platforms function smoothly and without issues. According to a top governmental representative, the goal is to promote the development and popularity of gaming companies while monitoring them.
Thus, while rules are necessary to ensure they operate as they should, the rules must not disturb their progress. These rules are necessary, especially considering the rise in popularity of the online gaming industry in recent years.
The gaming industry is consistently and more frequently churning out new games, which are available at India’s online casinos. Furthermore, more and more casinos are being developed daily, which has significantly changed the industry’s functioning for the better.
Thus, the virtual gaming sector has advocated for a stable, predictable, and centralized commission to eliminate the likelihood of unexpected disruptions in business. There is high revenue in India’s Online Gaming Industry, and the country’s administration is also interested in the business.
The gaming sector wants the Gambling Act amended to ensure uniform applications of law enforcement on online gambling. Meanwhile, the Indian Administration had previously levied a 28% tax on the industry of online gambling.
Thankfully, Meghalaya Chief Minister Conrad Sangma, chairman of the council has concluded that the administration would levy the entire gambling income. Nevertheless, this does not change the stand of the Central Government on internet gambling as it still opposes it nationally.