Is it game, set and match for the Indian gaming industry?
With people working from home, social distancing becoming the norm, and limited physical sporting events due to the pandemic, online gaming has seen significant activity over the past few months.
Mumbai-based startup, Nazara Technologies, backed by billionaire-investor Rakesh Jhunjhunwala, recently became the first Indian gaming technology company to file for an initial public offering (IPO).
With e-sports platform, Mobile Premier League (MPL), raising $95 million and gaming companies raising a combined capital of $462.08 million across 23 deals from 2020 till now, is it then ‘game, set and match’ for the sector?
As per Google-KPMG, India is now the world’s fastest-growing mobile gaming market, growing at 22 percent annually, poised to be worth $1.1 billion by 2021.
The EV industry hopes with Budget 2021 presented by Finance Minister Nirmala Sitharaman were high, especially as India has a target to become the largest EV market in the world by 2030. Chetan Maini of Sun Mobility said that the Budget put integrated recognition of the industry with Rs 18,000 crore outlay to support public bus transportation services, as well as Metro Lite and Neo-Metro services in Tier I and II cities.
Ram Sewak Sharma heads the government’s empowered group on COVID-19 vaccine administration, but this is not the first time he is heading a massive government project. He was involved in the rollout of India’s unique identity project Aadhaar, playing a key role in building Digital India for a billion-plus population. Read more.
The coffee drinking experience has been gaining traction in India, with the country now the sixth-largest producer of coffee. Yet, many small and medium farmers aren't getting the expected reach. That's why Soomanna Mandepanda and his spouse Puja Soomanna started Humblebean in 2017 ties up with small coffee farmers in south India, roasts and grounds supply, provides the beans to roasters, exports its products, operates brew bars, and has an online presence. Read more.
News & Updates
- Microblogging site Twitter's Public Policy Head for India and South Asia, Mahima Kaul, has resigned from her position on Saturday. After joining Twitter in 2015, she stepped down from the position to take some time off for personal reasons, said a senior official from the company.
- Union Minister Nitin Gadkari said that the government aims to increase the MSME sector's share in the GDP to 40 percent to benefit the rural poor.
- The Ministry of Corporate Affairs has amended rules for One Person Companies (OPCs) to bring more unincorporated businesses into the organised corporate sector, and has extended fast track merger process to startups and other small companies.
- Times Internet, Reliance Industries, Bharti Airtel, ShareChat, and government-backed National Informatics Centre (NIC) emerging as India's top app publishers in 2020, according to app analytics provider App Annie. Meanwhile, Ludo King-maker Gametion emerged as India's top game publisher.
- Cybersecurity startup Lucideus has changed its brand identity to Safe Security as the company changes its market positioning from being focused on services to products, and recently entered the B2C segment with SAFE Me app.
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“Economic empowerment is what will bridge the gap of gender inequality.”