YearEnder 2023: A topsy-turvy year for the online gaming industry

2023 was a rollercoaster for India’s online gaming industry: rapid growth since 2020 was disrupted by regulatory & tax changes. High GST on deposits, steeper compliance costs, layoffs, and reduced ad spends squeezed platforms. Yet industry optimism remains — rising smartphone usage & income, and hopes for regulatory clarity, offer chances for recovery in 2024.

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