{"id":9029,"date":"2024-03-25T02:10:15","date_gmt":"2024-03-25T02:10:15","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/03\/25\/govt-plans-independent-regulator-for-online-gaming\/"},"modified":"2024-03-25T02:10:15","modified_gmt":"2024-03-25T02:10:15","slug":"govt-plans-independent-regulator-for-online-gaming","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/03\/25\/govt-plans-independent-regulator-for-online-gaming\/","title":{"rendered":"Govt plans independent regulator for online gaming"},"content":{"rendered":"
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After the electronics and information technology ministry (MeitY) scrapped the idea of a self-regulatory body<\/a> for online gaming<\/a>, it may be looking at incorporating an independent regulator<\/a> that will allow only registered entities to offer e-gaming services in India.<\/p>\n

The National Law University (NLU) Delhi, along with industry body E-Gaming Federation (EGF), is consulting with industry stakeholders to determine the direction that gaming regulations should take henceforth, people aware of the development told ET.<\/p>\n

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NLU is expected to submit its recommendations to MeitY post elections.<\/p>\n

Confirming the development, NLU assistant professor Raghav Pandey said the institution \u201cis currently organising multi-part round table discussions to consult various stakeholders about the direction in which regulations ought to be framed\u201d.<\/p>\n

\u201cWhile regulations are required for better functioning of the industry, a balance between growth and regulation should be maintained, which can only be ensured through a collaborative consultation process between the industry, other stakeholders, and regulators, and comprehensive research about the issues that could require regulation,\u201d he said.<\/p>\n

Previously, the government had proposed creation of more than one self-regulatory bodies (SRBs) for gaming under the proposed IT Rules 2023. These SRBs were supposed to be empowered to decide on the issue of permissible and non-permissible gaming companies in India.<\/p>\n

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However, MeitY later determined that SRBs shall be unduly influenced by major players and may lack independence. Therefore, the idea was dropped in early 2024.India\u2019s online gaming sector is unique in the sense that it has been pushing the government to regulate themselves for clarity on permissible gaming which is not identified as gambling.<\/p>\n

Marred by several detrimental factors such as money laundering scams, high taxation and disturbed business economics, real-money gaming companies such as Dream11, Mobile Premier League, Deltatech Gaming, Nazara, Games24x7, etc. are seeking regulatory guidelines to separate wheat from chaff.<\/p>\n

\u201cThe online gaming industry is making great strides in contributing to India\u2019s digital economy,\u201d said Anuraag Saxena, CEO of E-Gaming Federation.<\/p>\n

India\u2019s e-gaming industry is currently a $3-billion market, 80% of which flows from real-money platforms. A recent report by gaming company Winzo Games revealed that India has surpassed the US and Brazil to become the largest gaming market in the world, boasting a user base of 568 million gamers and over 9.5 billion gaming app downloads in 2023.<\/p>\n

\u201cWe are grateful to the government for recognising the sector\u2019s long-standing need to bring about regulatory clarity by prioritising and notifying the regulations,\u201d Saxena said.<\/p>\n

He said favourable policies will not only promote responsible and sustainable growth of the online gaming industry but also ensure consumer protection, maintain ethical standards, and address societal concerns effectively.<\/p>\n<\/div>\n

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After the electronics and information technology ministry (MeitY) scrapped the idea of a self-regulatory body for online gaming, it may be looking at incorporating an independent regulator that will allow only registered entities to offer e-gaming services in India. The National Law University (NLU) Delhi, along with industry body E-Gaming Federation (EGF), is consulting with […]<\/p>\n","protected":false},"author":2,"featured_media":9030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[3278,3056,7752,13898,13897,3729,3279,13899,1925,6564,13900],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/9029"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=9029"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/9029\/revisions"}],"predecessor-version":[{"id":9031,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/9029\/revisions\/9031"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/9030"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=9029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=9029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=9029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}