Last Updated: March 04, 2023, 16:21 IST
Federation of Indian Fantasy Sports meet
FIFS’ 36 members, which doubled within the final six months, deliberated on the upcoming regulatory and tax laws on the FIFS members assembly
The Federation of Indian Fantasy Sports (FIFS), at its member assembly on third March 2023, lauded the Government’s initiative to supply regulatory certainty to the net gaming business with the appointment of MeitY because the nodal ministry.
FIFS hosted the members’ meet in Goa the place business leaders brainstormed on insurance policies for the net gaming sector. The gathering was graced by Shri Mauvin Godinho, Goa’s Transport, Industries, Panchayat and Protocol Minister. The FIFS imaginative and prescient for 2023 was led by its Chairman Bimal Julka, Director General Joy Bhattacharjya and Advisors Amrit Mathur and Ratnakar Shetty. They have been supported by exterior specialists within the areas of legislation, taxation and consulting. The assembly was attended by Dream11’s CEO and Co-Founder Harsh Jain, Amit Purohit, CEO Fantasy Akhada, Santosh Smith, CEO Khelo Fantasy and representatives of the opposite 34 members.
Addressing the net gaming business leaders, Shri Mauvin Godinho, Goa’s Transport, Industries, Panchayat, and Protocol Minister, stated, “Recognising the potential of start-ups in creating employment and attracting investments, Goa has formulated a start-up policy. The Government of Goa is keen to attract investments from the Online Gaming sector which is expected to attract billions of dollars in investments. Goa is truly an inspiring destination and considering online gaming is about creativity, Goa is the best place for innovation in online gaming. I urge the industry to invest in Goa and the government will provide all required support”
FIFS shared its imaginative and prescient for the present 12 months because the Federation appears to carry extra fantasy sports activities platforms beneath its wing and assist the business obtain accountable progress in a structured and collaborative method.
The meet deliberated on the laws for the net gaming business within the Union Budget 2023, the way forward for the AVGC sector, the appointment of the Ministry of Electronics and Information Technology (MeitY) because the nodal ministry for skill-based on-line video games and altering coverage panorama for the business.
Speaking in regards to the occasion, Joy Bhattacharjya, Director General of FIFS stated, “The Goa meet has supplied a superb alternative for the business to come back collectively and focus on essential coverage modifications that influence the fantasy sports activities business. The fantasy sports activities business contributes extensively to the expansion of the nation’s economic system and we hope to proceed on the identical path within the coming years. We hope that the discussions and insights shared at this members meet will assist set the stage for a shiny future for the business. We are assured that by collaborations comparable to this, we are able to pave the best way for extra sturdy and sustainable progress of the business in India.”
The forum gave FIFS members an opportunity to discuss prospects of the fantasy sports market in India while planning for the most effective ways to grow responsibly. The occasion provided the members with a platform to voice their opinions and concerns and gain a broader perspective over the industry’s development.
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