India proposes self-regulatory bodies for online gaming companies

India proposes self-regulatory bodies for online gaming companies

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India has proposed a body for the online gaming industry to regulate itself as draft amendments to its information technology rules published on Monday raised concerns over addiction to games and state laws stifling trade.

The proposal comes after a government panel recommended new rules to regulate the sector, which is expected to reach $7 billion by 2026, according to consultancy Redseer.

US investment firms Tiger Global and Sequoia Capital have backed Indian startup Dream11 and Mobile Premier League, popular for their fantasy cricket, in recent years.

Calls for monitoring the industry come amid growing fears that the proliferation of such games, particularly among young people, was causing addiction and financial loss, with some cases of suicide reported.

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