Quote of Mr. Dilsher Singh Malhi:
We welcome the Union Budget 2022 and congratulate Hon’ble Finance Minister, Smt. Nirmala Seetharaman for presenting a progressive budget that sets a strong foundation for India at 100. The digital technologies and allied sectors are elated about the announcement that 5G will be rolled out this year as it opens up massive opportunities for gaming, education, entertainment, and other sectors. For gaming companies, many of which are homegrown startups, the extension of the existing tax benefits from three to four years will further accelerate growth in the sunrise sector. The industry, which is already expected to have 657 million users by 2025, should now look to break the billion-user barrier by 2030. We are happy to learn that the Government of India and the Ministry of Finance understand the tremendous employment and revenue generation potential that the animation, visual effects, gaming, and comic (AVGC) sector has. The creation of the AVGC promotion task force is a welcome move. The initiative with industry participation will help in establishing uniform, progressive policies that will promote growth and investments in the sector, which in turn, will lead to job creation, revenue generation, and engagement opportunities. This will be a crucial step towards bridging the digital divide and unlocking a fully connected and empowered digital India. We believe that this initiative will pave the way for the Indian gaming industry to establish itself on a global stage.