Meta predicts $1 trillion contribution from digital and gaming to India's economy

Meta, the parent company of Facebook and Instagram, is making a significant move into India's fast-growing gaming market, according to Sandhya Devanathan, the company’s vice president and head of India. Devanathan stated that India is on track to become a global gaming hub, with an estimated 700 million gamers by 2028. Speaking at the Indian Gaming Convention 2024 in New Delhi on October 14, she shared Meta's vision to support the entire gaming ecosystem, including developers, creators, brands, and startups. 

"India is a key part of Meta’s global gaming strategy, and we’re committed to fostering innovation and growth within the developer community here. We want to empower the gaming ecosystem in India by offering platforms like Facebook Gaming and Instagram, where creators can not only engage with their communities but also monetise their content effectively," Devanathan said, as reported by Moneycontrol.

During her discussion on the company's efforts to empower developers, creators, and the wider gaming ecosystem, Devanathan highlighted the significant influence gaming has on consumer behavior and the economic potential it holds. She noted that the expansion of the gaming sector could open up vast economic opportunities. "India could become an $8 trillion economy in the near future, with $1 trillion driven by digital initiatives, including gaming," she said.

Devanathan emphasised the significant growth potential of the Indian gaming market and Meta's commitment to supporting developers and creators by providing them with the necessary tools for success. She highlighted the potential for the gaming ecosystem to create around 300,000 jobs across brands, startups, and creators.

She also pointed out the importance of advertising in helping creators and developers scale their businesses, especially in a market like India. Meta's platforms, she explained, offer tools that enable creators to reach a global audience and monetise their content effectively. She further noted that with 200 billion reels played daily and 200 million people shopping online in India, gaming is becoming increasingly integrated into the country's digital lifestyle and economy.