{"id":875546,"date":"2024-11-12T07:31:22","date_gmt":"2024-11-12T02:01:22","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=875546"},"modified":"2024-11-12T07:32:13","modified_gmt":"2024-11-12T02:02:13","slug":"indias-online-gaming-market-grew-by-23-in-fy24-despite-gst-burden-report","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/11\/12\/indias-online-gaming-market-grew-by-23-in-fy24-despite-gst-burden-report\/","title":{"rendered":"India&#8217;s online gaming market grew by 23% in FY24 despite GST burden: Report"},"content":{"rendered":"<p>India\u2019s gaming market grew 23 per cent year-on-year (Y-o-Y) by revenue to $3.8 billion in financial year 2023-24 (FY24), despite the newly imposed 28 per cent blanket goods and service tax (GST) on online gaming, according to a report by gaming-focused venture capital firm Lumikai. <\/p>\n<p>With sustained growth in in-app purchases and ad revenue, the gaming market is expected to cross $9.2 billion by FY29, growing at a five-year compound annual growth rate (CAGR) of 20 per cent, Lumikai\u2019s \u2018State of India Interactive Media and Gaming Research\u2019 said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s gaming market grew 23 per cent year-on-year (Y-o-Y) by revenue to $3.8 billion in financial year 2023-24 (FY24), despite the newly imposed 28 per cent blanket goods and service tax (GST) on online gaming, according to a report by gaming-focused venture capital firm Lumikai. With sustained growth in in-app purchases and ad revenue, the gaming market is expected to cross $9.2 billion by FY29, growing at a five-year compound annual growth rate (CAGR) of 20 per cent, Lumikai\u2019s \u2018State of India Interactive Media and Gaming Research\u2019 said.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,34,4],"tags":[],"class_list":["post-875546","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-it-2-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/875546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=875546"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/875546\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=875546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=875546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=875546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}