Gaming will drive India’s digital growth towards $1 trillion economy: Sandhya Devanathan

At the Indian Gaming Convention 2024, being held in New Delhi, Sandhya Devanathan, Vice President and Head of India at Meta, delivered a compelling talk on India’s remarkable digital growth, positioning the gaming sector as a key driver of the country’s transformation into a $1 trillion digital economy.

Devanathan began by highlighting India’s immense potential, saying, “We are looking at an $8 trillion economy in the not-too-distant future, with $1 trillion of that driven by digital.” She further noted the 820 million internet users in the country, a number larger than the entire population of Europe. Of these, 650 million are active on social media and messaging platforms, and a staggering 400 million Indians are already gaming.

This growth isn’t just about users, but about job creation and economic impact. Gaming, according to Devanathan, will play a pivotal role: “Gaming will certainly fuel India’s decade.” She cited projections of 700 million gamers by 2028, which will contribute not only to industry revenue but also create a vast ecosystem comprising developers, brands, creators, and startups. This ecosystem is expected to generate 3 million jobs and drive the gaming market to $8 billion in revenue by 2028.

Meta, a key player in this ecosystem, is deeply invested in the growth of gaming in India. “We see ourselves as a key part of the gaming ecosystem, acting as a catalyst for gaming growth in three ways: driving innovation, empowering communities, and delivering value to businesses,” said Devanathan. She emphasized Meta’s contribution through platforms like Facebook and the MetaQuest ecosystem, which helps gaming companies reach millions of players.

Meta has also been instrumental in AI-driven growth, with Devanathan proudly noting that gaming companies were among the first to leverage AI on Meta’s platform to expand their reach globally. “AI-powered tools are revolutionizing gaming,” she said, referencing Meta’s AI Summit, scheduled for later this month in Bangalore, featuring industry luminaries like Jan Lokum and Nandan Nilekani.

Beyond the business of gaming, Devanathan highlighted Meta’s commitment to fostering communities and supporting creators. She pointed to Meta’s collaboration with ICC during the World Cup, which connected gaming creators to mainstream audiences. Additionally, Meta is championing diversity within gaming, with a particular focus on women’s representation.

In conclusion, Devanathan’s address underscored the transformative potential of gaming in India’s digital future, positioning Meta as a key enabler of this growth. As India’s digital economy surges, gaming is poised to be one of its most dynamic and influential sectors, creating opportunities for businesses and consumers alike.