India has emerged as one of the world's most compelling gaming markets. Its gaming market is maturing, with mobile gaming alone (excluding Real Money Gaming) generating $1.1B through 2025 and projected to reach $2.4 billion by 2029. India's long-established scale is now being matched by rising player spending and a widening mix of genres.

This growth is the result of multiple catalysts: smartphone adoption deepens, digital payments expand, the player base ages, and spending per user is beginning to catch up with India's long-established reach. Following the recent RMG regulations, signs point to the $3.7B RMG sector flowing back into non-RMG gaming and adjacent entertainment categories, further reinforcing the market's growth potential. The local ecosystem is changing too. India now has 2,000+ gaming companies and 130K professionals, with capabilities spanning mobile development, LiveOps, co-development, services, infrastructure, and emerging original IP.

This comprehensive report from MIXI Global Investments is authored by Naavik, powered by Sensor Tower, with support from AppsFlyer and insights from Google, dives into the Indian ecosystem and what contributes to shaping a unique market opportunity.