Indian gaming to add 100,000 jobs in FY23, grow five-fold in 7 years: Study

Gaming in India is expected to grow by 20-30 per cent and add 100,000 jobs in Financial Year (FY) 2023, said a report about the “next sunrise sector”.

The sector employs 50,000 people, of which 30 per cent are programmers and developers. It has grown from being worth Rs 7,037 crore in FY 2019 to Rs 14,300 crore in FY 2022. The sector is projected to be worth Rs 38,097 crore in FY 2026 and grow five-fold in the next seven years, according to TeamLease Digital’s ‘Gaming- Tomorrow’s Blockbuster’ report.

“Gaming industry is the next sunrise sector due to its increasing user base and the opportunities that this industry is set to offer. It offers jobs across sectors, and that makes it more in-demand. Despite facing hurdles owing to frequent regulatory changes, the gaming industry is expected to create 100,000 jobs by FY23,” said Sunil Chemmankotil, chief executive officer of Teamlease Digital, a human resources and advisory company.

The industry is expected to attract Rs 780 crore in foreign direct investment (FDI) in FY 2023. According to Munira Loliwala, business head–specialized staffing, TeamLease Digital, said the industry will grow 20-30 per cent in FY 2023 and be worth Rs 38,097 crore by FY2026.

“With a 480 million strong gaming community, India is second largest globally, after China. To address this growth, employment in the sector is going to significantly increase. Today, we have a 90% millennials and Gen-Z workforce and the majority of these professionals are aspiring to work in emerging sectors like gaming,” she said.

According to the report, the sector will over the next year add new jobs in programming (game developers, unity developers), testing (games test engineering, QA lead), animation, design, artist (VFX and concept) and miscellaneous roles (content writers, gaming journalists, web analyst).

“With the confluence of Web3 and Metaverse, gamification is not just restricted to traditional gaming avenues but has extended to other emerging tech sectors like E-commerce, FinTech and Education etc. Over the next few years, aided by the sturdy growth in the sector, we will see a catapult impact on employment as well,” Loliwala said.

The industry has more than 40 per cent women whose number in the workforce and leadership roles will increase, the report added.

The highest paying profiles in the gaming industry include game producers (Rs 10 lakh per annum), game designers (Rs 6.5 LPA), software engineers (Rs 5.5 LPA), game developers (Rs 5.25 LPA) and QA testers (Rs 5.11 LPA).

Originally appeared on: TheSpuzz