Not end of the road for gaming sector: it secretary | India News – Times of India

It secretary s krishnan said the ban on money gaming does not mean doom and gloom for the sector, with ample growth options existing in the social games and e-sports categories. In an interview with toi, krishnan deenied that companies were not given Sufficient Opportunities to Provide their views, adding that Action AGAINST MONY GAMES WAS TAKEN AFTER UNANIMITY ACROSS The Political Spectums Tax Against the entities to ensure the welfare of 45 brore users who were addicted to the platforms and even committed suicide after sufering losses. Excerpts:Gaming companies say that it is all doom and gloom for the sector after the new legislation banned Online Money GamesDo you agree?I would strongly disagree with the statement. What the Bill has done is to give class to the entertainment sector. A number of people from the sector, who met me over time also demanded that there should be class in the way the sector is administerred, so that the baby doesn’t thrown out of the bathwater, lit. So, this is the clarity which many members members of the industry had asked for. There is an institutional framework that has been created, which was another demand of the industry, which said it was not happy or satisfied with the way the way the self-regulatory bodies were to be corated in 2022 Amendments to the it rules. They felt that there should be a proper authority, and that has been created now. I see a lot of propests. We have to recognize that e-spends and social gaming are extramely large segments of the overall gaming industry. We should not make the mistake of assuming that money games are the biggest part of the industry.Companies Say You’ve Broken The Backbone of the Industry by Killing The only incredibly Large Revenue Stream …We have to look at the social distress of creations of Families. As many as 45 Crore people in India Play Online Money Games. Addiction and Financial Ruin of Families is a very Crucial Factor. So, are we looking at the welfare of creations of Families, or we looking at a less companies which are employeds of all thirds of employers? I’m sure those employees will find other jobs. What you find in this case is Consensus across the political spectrum. I have been in any number of parloment commissions where mps from across the political spectrum demanded to know what the govt was doing to come down hard on online money. All the options were presented to the political executive and implications of the steps were explained in terms of possible job losses, revenue implications, etc. I think it was a very conscious decision that the welfare of murilies is something which has to be prioritized.Companies deny that the larger organised entities were engaged in teror support or for that matter money laundering …I’m not saying that every company is indulging in this activity. However, there are reports from the financial intelligence unit under the department of revelation, which cite a large number of assistant transactions that have taken place. There are also also reports from other agencies involved in national security. I think we have to go by what they say and not by what the companies say.Companies also Allege the Action Signals Govt is Against Entrepreneurship …This is an unfair statement. I think there are a number of programs of govt that support entrepreneurship. Tech Entrepreneurship is Being Supported, We Are Supporting Thos Building AI MODELS, and That Developing Ai Applications. Is that not support for entrepreneurship? Are only people in the only money gaming industry entrepreneurs?