At the Game Developers Conference (GDC) in San Francisco, WinZO Games, in partnership with the Interactive Entertainment and Innovation Council (IEIC), unveiled the ‘India Gaming Market Report 2025’.
The report projects a dynamic growth trajectory for India’s online gaming industry, predicting a market size increase from $3.7 billion in 2024 to $9.1bn by 2029, growing at a compound annual growth rate (CAGR) of 19.6%.
Launched at the India Pavilion at GDC, the report was presented by Dr Srikar Reddy, Consul General of India in San Francisco, alongside WinZO’s co-founders, Saumya Singh Rathore and Paavan Nanda.
The report highlights that India’s online gaming market, while currently representing just 1.1% of the global market, holds nearly 20% of the global gaming user base, with over 591 million gamers.
The report forecasts that India’s sole publicly listed gaming company, Nazara, sets a premium valuation benchmark. Applying similar valuation multiples to the entire sector’s $3.7bn market size suggests an estimated $26bn in investor value poised to be unlocked through public market listings. By 2029, when the market reaches its expected $9.1bn valuation, investor value could exceed $63bn.
Paavan Nanda, co-founder of WinZO, remarked: “India’s gaming sector is redefining its global presence. With a projected market size of USD 9.1 billion by 2029, the potential to unlock USD 63 billion in investor value underscores the industry’s robust growth.”
