I recall meeting a lot of computer engineering students in India who applied to an MBA program even before completing their engineering coursework. In any case, there was never a shortage of IT jobs in India. However, the majority of students in the country used to find it difficult to find creative work in the industry. However, there has been a significant shift in this regard, and even NRI students are increasingly interested in returning to India to work in the technology sector. The popularity of fantasy sports has significantly contributed to this shift.

In India, fantasy sports have evolved from a niche pastime for sports enthusiasts to a growing form of entertainment and sports participation. Due to its expanding user base and investment opportunities, the gaming industry has been dubbed the “next sunrise.”

Between 2016 and 2021, the number of Fantasy Sports players grew at a CAGR of 130 per cent. According to a report on the FS sector by Deloitte, India is the largest and fastest-growing Fantasy Sports market in the world. With a user base of more than 13 crores, the market is also expected to expand at a CAGR of 32% to reach 16 crores by FY22.

The FS industry’s opening of doors to a booming business market and the availability of jobs in a variety of fields have further enhanced its appeal thanks to technological advancement and an increase in internet penetration.

According to the FY22 report from Deloitte, the industry has already invested USD 112 million in India’s fantasy sports platforms, with numerous start-ups competing for the 800 million sports fans in the country. The sector had added approximately 3,400 direct and over 5,000 indirect jobs by 2020, and it had the potential to add an additional 5,000 direct and 7,000 indirect jobs by 2023.

Esports teams, organizations, and events will also rise as a result of the gaming industry’s expansion, necessitating management, marketing, and event production staff. The esports and gaming industry also offers a chance to learn skills that can be used in other industries, like working in teams, solving problems, and thinking strategically. As a result, veterans of this industry are in high demand in several comparable high-energy industries.

The support and service industries also gain from the industry’s expansion. The online gaming industry is also contributing to the expansion of ancillary industries like fintech, cloud services, data analytics, and web development by forming a symbiotic module of progress with them.

More people are considering it as a career option due to the rapid digitization wave and emerging technologies like blockchain gaming, Metaverse, and Web 3.0. Now, the gaming industry is seen as a crucial economic pillar. It is anticipated that this sunrise sector will bring thousands of new jobs to the nation.

The industry is getting closer to the long-awaited regulatory stability now that the draft rules for online gaming have been released. As a result, several gaming startup companies are anticipated to establish hiring strategies to support exponential growth over the next few years in response to an increase in funding. The FS industry contributes to the creation of jobs that are ready for the future in AI, machine learning, analytics, and other related fields in addition to its contribution to the overall expansion of Indian sports and the digital ecosystem.

Gaming is one of India’s fastest-growing industries, with over 450 million users. Its growth is being driven by easy access, a spike in new adoption, and leading companies actively shaping market evolution with increased marketing spending.

India’s online skill-based gaming industry must successfully leverage the country’s abundant talent pool by investing in intellectual capital and education to reach that point. India’s esports and gaming businesses can help seize global opportunities and stay ahead of the curve by creating a safe and sustainable environment through supportive policies and regulatory frameworks.

Credit: Financial Express