SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 17 Jan, 2017  

mario-gameTHMB.jpg 'FDI in gaming industry will aid its growth'

halo-reach-video-game.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 17 Jan, 2017
The All India Gaming Federation (AIGF) has suggested allowing Foreign Direct Investment in the Indian gaming industry, which it says will open the doors to superior technology providers and shall aid its growth.

Currently 13 Indian states offer lottery, six states allow horse racing, and two states currently allow and offer some sort of casino based gaming.

In August 2015, the Indian casino market likely generated approximately Rs 500 crore (approximately $75.7 million USD).

In spite of the available and attractive legal gaming opportunities spread throughout the country, this industry is yet to realise its full potential. Despite this fact, millions of Indians still partake in some form of gambling each year by visiting casinos abroad, leading to their money moving to wallets outside India, which if contained can generate revenue for the States, with respect to tax, the AIGF said in a statement.

Without access to an appropriate amount of attractive gaming facilities today, the Indian gaming market is far from reaching its potential. In the long term, Indian States and the federal government must consider and recognize the significant economic contributions that integrated casino resort developments can bring to their communities in the form of job growth, tax revenue and tourism. One of the most efficient ways to do the same is by allowing Foreign Direct Investment which will open doors to superior technology providers & shall aid in the growth of gaming industry which at present is at a nascent stage, it said.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter