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However, these issues shouldn’t justify draconian measures.

Instead, the industry advocates for smart regulation.

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Unlike other industries with addiction concerns, such as the alcoholic beverages industry, the gaming sector can use technology to encourage responsible use.Furthermore, research has shown than an increase in GST is not the appropriate way to address these concerns.

In-fact, the higher GST has only driven Indian players to offshore platforms where addiction concerns are manifold due to the lack of any safeguards for player safety.

POE poet in India ✌️【Job Vacancy】✌️Earn massive monthly returns. Start investing with ₹500 today!The GST increase, in this context has been the proverbial cutting of one’s nose to spite one’s face for the country.The industry also urges the government to implement the regulations drafted by the Ministry of Electronics and Information Technology (MeitY).

POE poet in India ✌️【Job Vacancy】✌️Invest ₹500 and watch your wealth grow with cutting-edge investment strategies.These rules, supported by the new skill-chance framework, can bring much-needed clarity to the sector, ensuring that permissible games are distinctly classified, and illegal offshore platforms are effectively curbed.India’s online gaming industry is at a critical juncture.

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POE poet in India ✌️【Job Vacancy】✌️Start with ₹500 and get fast returns through secure and profitable investments.Thehope is that through thoughtful regulation, balanced taxation, and industry collaboration, gaming can be transformed into a cornerstone of India’s digital economy, much like the IT sector did nearly four decades ago.It has been just over a year since the new increased GST regime was implemented, and enough information has been gathered to show that despite the best efforts of the relevant ministries, the GST policy has not delivered for the people of the country: MeitY domain and app bans are regularly circumvented through techniques such as domain farming, MIB advisories regarding theadvertisingbans on illegal offshore betting and gambling firms are regularly ignored with even celebrity endorsements continuing, and the Ministry of Finance and GST Department effort to register offshore gaming platforms to collect GST has so far seen a dismal response.

However, there remains hope, especially as the GST council has promised a timely review.

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It is hoped in 2025, the Government and the skilled online gaming industry in India willwork together to build a tax and regulatory framework for the industry that enables the industry to become like the IT industry, a global model for others to emulate and learn from.The author is founder-president, Skill Online Games Institute (SOGI).

Views expressed are personal and not necessarily those of financialexpress.com.Oil prices went down on Friday due to concerns about slower demand growth in 2025, particularly in China.

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Meanwhile, slower interest rate cuts could hinder economic growth and reduce oil demand.

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