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Gaming addiction soars in India as online gaming industry booms

China

China

China

Gaming addiction soars in India as online gaming industry booms

2024-10-28 15:05 Last Updated At:15:37

More and more Indians are finding themselves glued to their screens playing online games, with some even losing their savings to online game gambling as the country's gaming industry has kept growing at a double-digit rate in recent years.

With an estimated 450 million players, India is now the world's second-largest online gaming market.

India's online gaming industry is worth nearly two billion U.S. dollars and has been growing at a rate of nearly 30 percent over the past three years. This growth has led to employment and revenue. But media reports point to a rise in gaming addiction and related debts as well.

Some of the addicts started playing with real money simply as a way to "alleviate stress", but they soon found themselves in trouble as they developed an addiction to online games.

For one of the gamers, gambling made him quit his job, wiped out his savings and ruined his relationship with his family.

"At the start, the winning amount was big. So, I started thinking it was a good side income and it became a habit. In a two-year timeframe, I put in over 180,000 U.S. dollars from my savings. I lost that and I also mortgaged my family's gold ornaments to get a loan. That money was lost and the jewelry too," he said.

He added that online gaming pushed him into depression for months, but with intervention he managed to turn things around.

Currently, Indian laws forbid gambling but allow skill-based games, which means card games like rummy and bridge can be played with real money and no restrictions.

As reports of crimes and self-harm related to online gaming debts rise in India, a few Indian states such as Tamil Nadu and Telangana have pushed for stricter regulations. But across much of the country, players are still getting caught in the web of high-stakes gaming, which sometimes leads them to take extreme measures. Despite stricter regulations, advertisements featuring celebrities to attract players and promises of big cash prizes are still frequently seen on websites. Psychologists said the promotions can potentially justify wrongdoing, which is set to hurt the online gamblers themselves.

"If there will be having celebrities endorsing anything, it works on aspirational values. So, a common person who is looking up to that particular person, whether it's a celebrity or anybody else who's endorsing, if you're looking up to that person, you automatically are going to relate and connect. So, it becomes easily justifiable that, alright, it could be something that even I can try and explore," said Nirali Bhatia, a cyber psychologist.

Even as the government has been working actively to revise laws, a resolution agreeable to all is yet to be reached.

Gaming addiction soars in India as online gaming industry booms

Gaming addiction soars in India as online gaming industry booms

The agreement between China and the European Union (EU) on providing general guidance on price undertakings for Chinese exporters of passenger battery electric vehicles (BEVs) to the EU will help stabilize industrial and supply chains, said an industry analyst.

The move aims to address relevant concerns in a more practical, targeted, and consistent manner with World Trade Organization (WTO) rules, according to the Ministry of Commerce in a statement on Monday.

The statement noted that in the spirit of mutual respect, the two sides have conducted multiple rounds of consultations in order to implement the consensus of the China-EU Summit and properly resolve the EU's anti-subsidy case concerning Chinese BEVs.

To that end, the European Commission on Monday issued guidance on the submission of price undertaking offers, covering various aspects that should be addressed in any such offer, including the minimum import price, sales channels, cross-compensation, and future investments in the EU.

Each price undertaking offer is subject to the same legal criteria, and the commission will conduct each assessment in an objective and fair manner, following the principle of non-discrimination and in accordance with WTO rules, the commission said.

On the same day, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) also issued a statement welcoming the positive outcome of the consultations.

Chen Huiqing, director of the CCCME's Legal Department, said that reaching a price commitment helps companies protect their profits from tariffs.

"For companies, reaching a price commitment means profits stay with the firm, instead of being taken away as EU anti-subsidy tariffs," said Chen.

The price-undertaking option will help stabilize supply chains and support global trade, she added.

"After multiple rounds of talks, China and the EU have reached a positive, 'soft-landing' outcome that helps stabilize industrial and supply chains and supports broader China-EU trade and the global trade order," Chen said.

China-EU agreement on price undertaking guidance for EV exports to stabilize supply chains: analyst

China-EU agreement on price undertaking guidance for EV exports to stabilize supply chains: analyst

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