India’s gaming market is expected to be multiple-billion USD by 2030, with aggressive CAGR forecasts from several industry reports (estimates vary by source and scope: one forecast says India could approach ~USD 8.9B by 2030 if high growth continues).

2030 projections (selected estimates): different research houses vary — one projects India gaming revenue rising strongly to ~USD 8.9B by 2030 under high CAGR assumptions; cloud gaming specifically is forecast to grow from a small base (~INR 5.9 Bn in 2023) to about INR 10.07 Bn by 2030 (ResearchAndMarkets). Use these as directional figures — growth is expected but exact totals differ by study.

Opportunities (where to place bets)

Premium mobile + mid-core titles optimized for low-end devices — big addressable market outside metros.

Cloud gaming services (telcos + platforms) — as 5G matures, cloud will unlock console-grade experiences to mobile users; subscription bundles with telecoms are promising.

Adtech & live ops — improved player retention + live events produce steady ARPUs without relying on RMG.

Esports ecosystem & creator economy — monetization via sponsorships, streaming ads, ticketing and franchising of leagues.

Exporting IP & services — India’s dev studios can grow export revenues (art, engineering, live ops) to global publishers.

Edutainment / serious games — large domestic market for skilling, education and simulation content.

Bottom line

India’s gaming market will still be one of the world’s fastest-growing markets through 2030 — led by mobile, cloud, esports and a boom in creators and local content — but the 2025 regulatory shift on money-based games is a material inflection point that forces a strategic pivot in monetization and business models. Firms that adapt quickly to ad/sub/cosmetic economies, partner with telcos for distribution, and serve the mass market with optimized, localized games are best positioned to capture the next decade of growth.