ONLINE GAMING WINZO REPORT
Investors flock to new-age food brands; ecommerce sales report
Happy Wednesday! Investors are showing a strong appetite for new-age food brands, with notable investments and expansions taking place. This and more in today’s ETtech Morning Dispatch.
Gaming industry to grow to Rs 25,300 crore by end of 2024-25: report
The gaming industry is set to grow 20% on year by the end of this fiscal year to Rs 25,300 crore, as per a study by Grant Thornton Bharat. This is in partnership with E-Gaming Federation. The report added that India has left China behind in terms of online gamers, with its number hitting 422 million.
Actor Sahil Khan gets bail in Mahadev betting app case
Actor Sahil Khan has been granted bail in connection with the Mahadev betting app case. The decision was made by Additional Sessions Judge V M Pathade on Wednesday, though the detailed order is not yet available. Khan, in his plea, argued that most of the allegations against him were "speculative" and said there was no concrete evidence.
Amazon Pay India top up; GST summons for egaming firms
Amazon has pumped Rs 600 crore in its local fintech unit Amazon Pay India. This and more today’s ETtech Top 5.
GST Council Meeting: Sin goods windfall, tax relief talks, and more ahead of budget buzz
GST Council Meeting: The upcoming 53rd meeting of GST Council is poised to discuss several key measures that could pave the way for significant tax reforms ahead of the government's first full budget. Among the agenda items are -- the use of approximately Rs 70,000 crore collected from GST compensation cess on products like pan masala and cigarettes. Discussions may also cover the potential waiver of interest or penalties on tax notices issued between 2017 and 2020, excluding cases of deliberate default.
GST Council likely to deliberate on online gaming tax, Par panel recommendation on fertiliser
The GST Council is set to discuss various issues in its upcoming meeting, including taxation on online gaming and the recommendation to lower tax on fertilisers by the Parliamentary standing committee. The current GST rate on fertilisers is 5%, while raw materials like Sulphuric Acid and Ammonia face a higher rate of 18%. The council will also review the decision to levy 28% GST on the full value of bets for online gaming companies, which came into effect on October 1, 2023.
- Go To Page 1
Ixigo's stock rally continues; retro tax relief likely for egaming cos
Shares of Ixigo continued to surge a day after the travel platform’s IPO. This and more on today’s ETtech Top 5.
GST Council likely to consider a review of 28% tax on online gaming at June 22 meeting
The council may also take up recommendation of the fitment committee on inverted duty structure of 15 items, officials aware of the matter told ET. However, a broader process of rate rationalisation may be pushed for later, they said.
MultiVersus: Will Ranked Mode return? Here’s what we know so far
MultiVersus relaunched with new features but lacked the anticipated Ranked Mode. This mode, crucial for competitive gameplay, is expected to return.
TN law to place time, user curbs on all online games
Tamil Nadu is considering a law to regulate online and real money games, with restrictions on playtime and usage, mirroring the central government's approach. This is being spearheaded by Tamil Nadu Online Gaming Authority (TNOGA); a five-member regulatory authority formed in August 2023.
Stanley Cup Finals: Date, time, place, and how to watch Edmonton Oilers- Florida Panthers game live online
Stanley Cup this year promises to be much more intense than what was seen in the previous editions as one of the teams, the Edmonton Oilers, have entered the finals after a long wait and they will be going all guns blazing against one of the most formidable teams, Florida Panthers, who were initially seeded as one of the favorites for the title this year.
S&P 500, Nasdaq close slightly down ahead of US payrolls data
The S&P 500 and Nasdaq composite dipped from record highs ahead of key labor market data. Nvidia fell, while utilities and industrials dragged the S&P 500 lower. Investors await the U.S. nonfarm payrolls report, which may influence Federal Reserve decisions.
Leave gaming to the real mai-baap
Gaming is a significant industry in India, with around 57 million active gamers, the second-largest globally after China. Children, youngsters, and women form a significant part of this user base, enabled by increased broadband penetration, smartphone adoption, and local content creation. However, the government is considering imposing time and spending limits on gamers to address gaming addiction, sparking concerns about state overreach. Instead, the focus should be on raising awareness about screen time and letting parents make informed choices, rather than intrusive regulations.
Govt eyes time, spend curbs to tackle gaming addiction
The government is leaning towards imposing time limits as opposed to certifying games as permissible or non-permissible through self-regulatory organisations (SRO), an official at the IT ministry said.
Indians lost over ₹1,750 crore to cyber fraud in first four months of 2024
According to Indian Cyber Crime Coordination Centre (I4C), on an average 7,000 cybercrime complaints were registered per day in May 2024, a jump of 113.7% between 2021-2023 and 60.9% from 2022-2023, and 85%of them were financial online frauds.
Sacred Games: How Indian mythology is taking over gaming consoles
Indian gaming enthusiasts now have access to games rooted in Indian history and culture, like managing the Ayodhya Ram Temple's functioning and building the Vande Bharat Express. Players can immerse themselves in the world of the legendary Tamil emperor Rajendra Chola and experience high-speed chases and stealth attacks.
Five lakh sellers onboard ONDC so far: DPIIT secy
Asked if big startups would overshadow smaller players, DPIIT secretary Rajesh Kumar Singh said it will increasingly get traction for all types of players that comes to the ecommerce marketplace.
IEIC, NIMHANS & GoI’s consumer affairs dept partner for study on tech de-addiction
The findings will inform evidence-based policy decisions, emphasizing the establishment of guardrails and the development of effective coping mechanisms to safeguard consumers, the IEIC said in a press statement.
‘Digitalisation of Schengen Visa application will be a game changer’
Teodora Marinska, COO and Head of Public Affairs at the European Travel Commission, highlighted the benefits of digitizing the Schengen visa application process, making it easier for foreigners to access the bloc. The move aims to address challenges such as limited appointment slots and visa applications due to ease of procedures in certain embassies. Digitalization promises a seamless process with automated appointment allocation.
States & online gaming regulations; banks tap startups to foil frauds
Happy Monday! In the absence of central government’s self-regulatory mechanisms, states are framing laws for online real money gaming. This and more in today's ETtech Morning Dispatch.
What is Blue Whale challenge, the online game linked to Indian student’s death in the US
The death of an Indian student at the University of Massachusetts, believed to be linked to the "Blue Whale Challenge," has sparked concerns about online dangers. The game, known for its harmful dares and association with self-harm and suicide, has raised alarms globally. Investigations are ongoing, with authorities awaiting the medical examiner's final report. The incident highlights the need for greater awareness and vigilance regarding online challenges that pose risks to vulnerable individuals, emphasizing the importance of monitoring and protecting young people from harmful online content and activities.
XDefiant Server Test Session: This is what we know so far
Ubisoft's XDefiant, a free-to-play shooter game, is set for a Server Test Session starting April 19, 2024. The session lasts 2 days, concluding on April 21, 2024. Players can earn rewards like weapon skins and XP boosters.
Ecomm, gaming, financial services comprise 80% of online transactions in H2 2023: report
Worldline's report showcased Ecommerce, gaming, utilities, government, and financial services as online transaction leaders. In-store, grocery stores, restaurants, pharmacies dominated. UPI transactions surged as PoS terminals increased, highlighting the importance of mobile payments.
Indian gaming market revenue may double to $6 billion by 2028: report
According to a joint report by Interactive Entertainment and Innovation Council and online gaming firm Winzo, projects paying gamers to reach 240 million by 2028 from 144 million paid users for games in 2023.
NLU preparing recommendations for a online gaming regulator, to submit to MeitY soon
To determine the direction that gaming regulations, the National Law University (NLU) Delhi, along with industry body E-Gaming Federation (EGF), is consulting with industry stakeholders.
Online gaming continues to grow, but GST change to “moderate” monetisation: report
According to a report from real money gaming (RMG) firm Winzo and non-profit firm Interactive Entertainment and Innovation Council, India currently has about 560 million gamers, of whom 144 million paid for games in 2023
LinkedIn may soon add gaming to its services: report
Looking at the viral success of Wordle, professional networking platform LinkedIn is looking to venture into gaming, to boost user engagement on its app and website
Winzo launches Bharat Tech Triumph to facilitate export of Made in India games
The company said this program focuses on nurturing homegrown startups by providing crucial resources for growth such as offering a global platform and access to FDI.
Winzo develops model to differentiate games of skill and chances with IITs
The statistical model, however, could be democratised and applied to any game without necessitating access to proprietary data or violating the intellectual property rights of gaming companies for skill assessments.
Load More
