October 30, 2023
For each game, Nazara willinvest a minimum of INR 1 Cr and aims to release up to 20 games within the next18 months
Nazara will collaborate with various Indian and globaldevelopers to adapt and introduce these games to India's extensive gamingcommunity, while also facilitating the global publication of games created byIndian developers
Within the Nazara Publishingplatform, developers will gain access to mentors who are industry leaders andexperts
Nazara Technologies, a gaming and sports media platform, haslaunched a new game publishing division — Nazara Publishing — dedicated tolaunching top-quality games for both the Indian and international markets.
The gaming giant will collaborate with various Indian and globaldevelopers to adapt and introduce these games to India’s extensive gamingcommunity, while also facilitating the global publication of games created byIndian developers.
For each game, Nazara will invest a minimum of INR 1 Cr and aimsto release up to 20 games within the next 18 months. Apart from financialsupport, Nazara will offer developers assistance in game design, localisation,data analytics, beta testing, quality assurance, improved monetisationstrategies, and robust distribution through smart user acquisition spending andplatform partnerships.
Within the Nazara Publishing platform, developers will also gainaccess to mentors who are industry leaders and experts. The overall idea is notonly to assist game studios in successfully launching games but also inovercoming challenges, accelerating their growth, and making a lasting impacton the Indian gaming ecosystem.
Nitish Mittersain, CEO and joint MD of Nazara Technologiesstated, “… We are committed to nurturing Indian and global game developers,offering resources, expertise, and a robust network to deliver top-qualitygaming experiences to India’s extensive audience. With a particular emphasis onsupporting Indian developers, Nazara recognises a substantial opportunity inthe Make-in-India initiative. As part of this initiative, we will also activelypromote Indian game developers on a global scale.”
Nazara operates as a gaming and sports media platform, and ithas a footprint not only in India but also in emerging and global markets suchas Africa and North America. The company’s diverse portfolio includesinteractive gaming, eSports, ad-tech, and gamified early learning ecosystems.
To improve tax compliance, the government recently updated theGST law, requiring foreign online gaming companies to register in Indiastarting from October 1. Clarifications were also issued to states about thenon-retroactive nature of GST on these companies. The official approval of a 28% GST rate was announced on September 1, detailing the method for valuing onlinegaming platforms’ tax obligations.
Based on the GST Council’s recommendations, the Ministry ofFinance amended the Central GST law to outline how the value of supply byonline gaming platforms should be calculated. According to the notification,winnings earned by players will not incur additional tax, as all taxation iscollected upfront.
Previously, due to uncertain regulations, online gamingplatforms had to pay an 18% GST on total platform fees, while betting andgambling activities were taxed at 28%. With the new GST rate taking effect onOctober 1, all platforms involving real money gaming are now obliged to pay a28% GST on the full face value of bets.
In light of these tax changes, platforms such as Quizzy, OWN,and Fantok have paused operations temporarily. Additionally, Bengaluru-basedGameskraft suspended its fantasy offering, Gamezy Fantasy, in September.
According to research by Inc42, based on conversations withvarious stakeholders in the gaming ecosystem, it’s estimated that 20-25% of online gaming platforms are either contemplating acquisition orhave already been acquired.