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Gaming industry takes the hit due to lack of funds

Institutes like the National Institute of Design (NID) and others have gaming and animation courses.

Written by Express News Service | Pune | Published: November 16, 2013 4:13:10 am

In spite of the gaming industry witnessing extensive growth in the past two years,lack of proper finances and skilled manpower continue to loom large over the industry. Rajesh Rao,chairperson of NASSCOM’s gaming forum,said that while the industry currently requires 1,000 skilled personnel,lesser than 5,00 are produced annually in the country. Rao was addressing the media during the fifth NASSCOM’s game developers conference here.

“Institutes like the National Institute of Design (NID) and others have gaming and animation courses. However,they are not up to the industry standards. We have to train them again. NASSCOM has come up with guidelines for institutes conducting training courses in gaming and animation,which we hope will save us this exercise,” he said.

NASSCOM has submitted a set of guidelines to the government of India’s IT department which is starting a centre of excellence in visualisation and gaming,he added.

Speaking on the growth of the industry in India,Rao said that of the 175 companies in the country,more than 100 were set up in the past two years. “When we started tracking the companies in 2010,there were only 25 companies. Now we have 175 companies,” he said.

Pune,Bangalore and Hyderabad are the major hubs of such companies. Pune is a preferred destination for such startups.

The spurt in gaming on mobile platforms is one of the reasons for the growth of gaming industry in the country. Currently,these companies employ more than 2,000 staff.

Although enthusiasm amongst gamers is at an all-time high,when it comes to finances,Indian companies are way behind their US counterparts in revenue generation,Rao said. “In US,we have seen games doing business to the tune of $ 1 billion dollars on the first day of its publication. Also across the world,the conversion of games into revenue generation is 1-2 per cent while in India it is lesser than 1 per cent,” he said.

Finances continue to be a major concern for Indian gaming industry as Neha Chandar,co-founder sales and marketing of Axiom Studios said,“The angel investors,who had cemented the growing phase of the gaming industry,have now finished the seeding. It is difficult for these companies to get more funding. We have approached many investor networks but not much has come out of it,” she said.

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