Chinese technology giant Tencent announced strategic collaborations with the Service Export Promotion Council (SEPC) and the Game Developers Association of India (GDAI), pledging an initial investment of over Rs.100 million to enhance India's gaming and AVGC ecosystem.
It stated that its commitments involve offering resources and initiatives covering curriculum development, industry training, and mentorship.
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The firm stated this signifies the onset of its enduring partnership with the nation’s gaming and AVGC industry. This advancement follows the regulatory clarity in the digital gaming sector and India's easing of FDI regulations for bordering countries.
“We wouldn’t be here if we had concerns. We welcome the enhanced clarity, especially in the video game sector, and the government of India’s focus on the orange economy has been well-received and is a big driver of why we’re here,” says Danny Marti, Head of Public Policy and Global Affairs, Tencent.
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The technology giant expressed that this pledge aligns with India’s national goal to educate and employ two million skilled workers in the AVGC-XR industry by 2030.
When inquired about his opinions on the Indian government easing investment regulations from neighboring countries, he stated that this indicates “a loosening of the regulatory framework that promotes further investments and collaborations.”
He emphasized that India is a dynamically expanding and lively creative economy with an increasing video game industry.
Yong-yi Zhu, Global Vice President for business operations, strategy, and compliance at Tencent Games, expressed that the tech giant recognizes significant opportunities in India's gaming industry. “Tencent views India as having a significant player base, and we aspire to make our games available to them so they can enjoy playing with friends and family.”
Gaming is intrinsically quite social. Discussing the creator economy, he mentioned the firm's aim is to develop an ecosystem. He mentioned that Tencent is eager for the development of new intellectual properties (IPs) by individuals in India.
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Tencent and the Game Developers Association of India (GDAI) have entered into a three-year memorandum of understanding to bolster India's gaming talent development by promoting grassroots developer involvement, industry-driven training, mentorship, and practical learning programs.
Tencent will collaborate with SEPC under a new three-year MoU to enhance national capacity building, promote industry dialogue, and assist Indian AVGC firms in gaining access to international value chains, it states.