8 DECEMBER2024According to the "State of India Interactive Media and Gaming Report" by Lumikai, India's gaming industry, with 44 per cent of its 591 million gamers being women, is the world's second-largest mobile gaming market standing behind China. The industry has grown significantly, reaching $3.8 billion with a player base of 591 million. The broader new media market is expected to reach $12.5 billion in FY24, with gaming and video content accounting for over 60 per cent of the market share.The Lumikai report further highlighted a 30 per cent increase in weekly gaming hours and a user base of 148 million paying players. It forecasts a revenue hike of $9.2 billion by the fiscal year 2029. The report released jointly with Google and Deloitte states that India, the world's second-largest mobile gaming market and 3.5 times larger than the U.S. and Brazil, faces profitability challenges due to tax impacts despite rising sector revenue.Lumikai's Founding General Partner, Salone Sehgal, praised Insignia as a platform for collaboration among industry leaders and investors. The event highlighted India's gaming potential, with a 30 per cent increase in weekly hours and 148 million paying players, attracting international attention and investment. Global gaming and tech leaders were present in Lumikai Insignia discussed technology fusion, PIF initiatives, AI, cloud gaming, and graphics advancements. The Academy for Women Entrepreneurs (AWE) 4.0 boot camp in Kolkata attracted 31 women entrepreneurs from Tripura and Mizoram, along with business development specialists and government representatives. The event, organized by the US Consulate and Contact Base, provided year-long mentoring and coaching to over 70 women entrepreneurs, promoting sustainable business growth. The program aims to provide women with the necessary support and tools, including capital, mentorship, training, and networking, to create pathways for success.The event aimed to unite women entrepreneurs from Tripura and Mizoram where participants of the boot camp represented varied sectors including tourism, food, and crafts along with showcasing their capabilities of establishing small businesses. The event discusses strengthening local economies through Nano enterprise support, government contributions, MFIs, and business incubation programs, focusing on women-led Nano enterprises in rural regions.Consul General of the US in Kolkata, Kathy Files-Diaz mentioned, "The AWE programme and the boot camps you have participated in is a first step - a critical first step - towards ensuring that every woman who wants to start or build her own business has access to support and tools she needs." She congratulated women on their entrepreneurial journey, expressing gratitude for access to capital, mentorship, training, and networking, and eagerly anticipating their success. IN FOCUSINDIA'S GAMING INDUSTRY FLOURISHES WITH 44 PERCENT FEMALE GAMERS: LUMIKAI REPORTAWE 4.0 BOOT CAMP TRAINS 31 WOMEN ENTREPRENEURS FROM TRIPURA & MIZORAM IN KOLKATA
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