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Gaming companies and industry bodies such as the All India Gaming Federation (AIGF) and E-Gaming Federation (EGF) are working on a common set of policy codes for their member companies, including ways to implement stricter know-your-customer norms, steps to curb gaming and gambling addiction, and other aspects of responsible game play, said people familiar with the matter. “These will be a common set of directive principles which all (gaming) companies are discussing right now. Whether skill-based or chance-based, there should be a common set of codes for all to adhere to so that there is uniformity across the industry,” said one of the persons, who did not wish to be identified.
The common code of conduct, another person said, will be different from the voluntary code of ethics that was signed by industry bodies such as the AIGF, the EGF, the Federation of Indian Fantasy Sports and the Internet and Mobile Association of India. In December 2023, all these associations came together to sign the voluntary code of ethics with a proposal that the signatories would act in good faith to adhere to principles such as protecting the provision of choices to customers, helping them make informed choices and creating a healthy environment for gaming in India. The gaming industry’s move to formulate a common code of conduct is an attempt to “present a united face” even as it faces multiple challenges such as retrospective tax demands, high goods and services tax rates and policy flip-flops on chance and skill-based games, a senior gaming industry executive said on condition of anonymity.
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Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories ET had earlier reported that some states such as Tamil Nadu were leaning towards bringing laws that place time and usage curbs on online and real money games. India is a burgeoning market for gaming, with video games market research and consulting firm Niko Partners saying the video games market in Asia and the Middle East and North Africa (MENA) generating revenue of $85.5 billion in 2023.
As per its report in May, the gaming industry in Asia and MENA is projected to expand significantly between 2024 and 2028. During this period, India is expected to be the fastest-growing market followed by the MENA-3 region (Saudi Arabia, the UAE and Egypt) and Southeast Asia. It said India is expected to gain 277 million new gamers by 2028, accounting for 72% of the total gamer growth across Asia and the MENA region.
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