With a 19% rise in income from FY22 to FY23, the Indian gaming business is booming. In FY23, the sector brought in $3.1 billion. This increase in earnings occurs even though the real-money gaming industry has been hit hard by recent shifts in taxation legislation. Stakeholders in the business are worried about the possibility of retrospective taxes owing to implementing a Goods and Services Tax (GST) regime at 28%.

The newest report from India's first gaming and interactive media-oriented venture fund, Lumikai, includes an updated revenue prediction for the gaming sector. The research predicts that the Indian gaming industry will bring in $7.5 billion in revenue in FY28, down from the $8.6 billion predicted for FY27. The analysis shows that the Indian gambling business is resilient and has great potential, despite the lowered prediction.