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Real-money gaming headed for a squeeze after GST ruling, forecasts Lumikai/Google report
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Thursday, 2 November 2023
The online real-money gaming industry in India is expected to decline significantly after the government imposed a 28% tax on user collections, according to a report by Lumikai. However, the report predicts that the overall gaming industry will continue to grow at a compound annual growth rate of 20% between FY23 and FY28, reaching revenues of $7.5 billion. The growth will be driven by in-app purchases and ad revenues, rather than real-money gaming.
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