PM Modi’s third term to establish a more stable and predictable regulatory environment for the online gaming industry

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Rules and the law of the land are applicable to companies of all sizes, and entrepreneurs cannot live in denial of it, said Union minister Rajeev Chandrasekhar on Monday attending Mumbai Tech Week 2024.

The minister said PM Modi’s third term will see more stable and regulatory environment for the online gaming industry. It is worth noting that from GST clarity to bringing an regulatory regime for online games, Modi second term has seen a significant policy framework development in money gaming space.

However, a clarity on states power to enact prohibition laws is still awaited with Supreme Court expected to hear the matter in coming months.

With largest smartphone market outside China, Indian digital market is expected to grow multifold with money gaming also making a crucial role. In this regard, Modi’s third term is expected to play a major role for the development of the money gaming sector in the country.

PM @narendramodi ji’s Govt is all about creating the right framework to catalyze our #DigitalEconomy & reach our goal of $1 Trillion by 2026/27.

Unlike previous Govts who had badly regulated sectors, who were involved in major scams, our approach to regulatory framework has… pic.twitter.com/b4Vobv5Chn

— Rajeev Chandrasekhar (@Rajeev_GoI) February 19, 2024

The minister said the current government’s approach to regulatory framework has always been open, transparent, and consultative and it some to reach a goal of $1 trillion digital economy by financial year 2026-27.

“It is not so much about the Govt regulating as much as all of the stakeholders coming together and creating guardrails for the orderly growth of all segments of our economy,” the minister said possibly referring to self regulation by digital sector entities.

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