With India's online gaming community surging to 442 million users, surpassing China, the need for ethical practices and strong self-regulation is more pressing than ever. Addressing this, Grant Thornton Bharat and the E-Gaming Federation (EGF) have released a report titled "Guardians of Safe Play: Ethical Gaming for Vibrant Bharat."
Key Highlights of the Report
Panel of Experts:
- Prof. (Dr) G.S. Bajpai: Vice Chancellor, National Law University, Delhi
- Shri Priyank Kanoongo: Chairperson, National Commission for Protection of Child Rights
Report Overview:
- Title: Guardians of Safe Play: Ethical Gaming for Vibrant Bharat
- Focus: Advocates for a robust Code of Conduct (CoC) to ensure transparency, accountability, and ethical standards in the gaming ecosystem.
Importance of Ethical Gaming
Shalabh Saxena, Partner at Grant Thornton Bharat:
- Emphasized responsible play and consumer protection.
- Advocated for transparency, fair play, and mental well-being safeguards.
- Stressed the need for rigorous audits and self-regulation to build trust.
Anuraag Saxena, CEO of EGF:
- Highlighted the critical role of self-regulation in maintaining industry trust.
- Stressed balancing innovation, consumer protection, and national interests.
Addressing Critical Risks
The report highlights several key risks and offers best practices to mitigate them:
- Cyber Threats
- Regulatory Uncertainties
- Financial Vulnerabilities
Third-Party Certification:
- Advocated as essential for maintaining high standards and fostering self-regulation.
Legal and Regulatory Insights
The report delves into the Real Money Gaming (RMG) sector, distinguishing between games of skill and chance. It also analyzes the current regulatory framework, including the Public Gambling Act and Information Technology guidelines, advocating for modernized legislation to address emerging challenges.
Strategic Recommendations
- Modernize Laws:
- Address challenges like microtransactions and loot boxes.
- Enhance Player Protection:
- Implement robust mechanisms against cyber threats, fraud, and unfair practices.
- Promote Ethical Standards:
- Foster responsible gaming practices across the industry.
Industry Impact and Future Outlook
Parth Chadha, Co-Founder & CEO at STAN:
- Supports the report's emphasis on regulatory mechanisms to protect players.
- Stressed the importance of gaming communities in driving the growth and integrity of India's gaming industry.
