New Delhi, June 4 (IANS): Globally, gaming generates $200 billion in annual revenues, and with the right policies in place, India could become a key player on the global stage, Gaurav Agarwal, Co-Founder of Gamezop, said on Tuesday.

Talking to IANS, Agarwal said: "We believe that if the new government is to consider duty credit scripts for export-oriented gaming companies, it could signify a significant investment in high-skill jobs, GDP growth, as well as global influence."

As per industry experts, India boasts a massive gaming audience of 450-550 million players. In FY23, the Indian gaming industry generated $3.1 billion in revenue, marking a 19 per cent growth from $2.6 billion in FY22.

Moreover, the co-founder mentioned that it's time for India to transition from being "one of the largest consumers of content to being the largest creator of content".

As per Invest India, the online gaming segment is the fourth largest segment of the Indian Media & Entertainment sector. It is expected to reach Rs 231 billion by 2025, growing at a CAGR of 20 per cent.