Gaming Companies in India: an overview
India's games industry was reshaped in August 2025, when Parliament passed the Promotion and Regulation of Online Gaming Act. The Lok Sabha passed the bill on 20 August, the Rajya Sabha on 21 August, and it received presidential assent on 22 August. The Act bans offering, advertising or processing payments for online money games, defined as games in which users pay money or other stakes expecting a return, whether the game turns on skill or chance. Offering such games can draw up to three years in prison and a ₹1 crore fine. E-sports and online social games, which may charge fees but carry no stakes, are to be promoted.
Companies built on cash contests have changed course. Dream11, founded in Mumbai in 2008 and owned by Dream Sports, now markets its fantasy sports app as free to play, and the group dates its shift from gaming to a sports entertainment platform to December 2025. Its other businesses include FanCode. MPL's website states that no cash games are available and that deposits are no longer accepted. Zupee, founded in 2018, now promotes free versions of Ludo and other board games, and Moonfrog Labs labels its Rummy Gold title as a non-real-money game.
The rest of the industry earns money from game sales, in-app purchases and advertising. Nazara Technologies, incorporated in 1999 and listed on the NSE and BSE, has a portfolio that includes the children's brands Kiddopia and Animal Jam, Fusebox Games, which makes Love Island: The Game, and the PC and console publisher Curve Games. Gametion in Navi Mumbai makes Ludo King, and Gameberry Labs in Bengaluru makes Ludo STAR. Pune hosts SuperGaming's Indus Battle Royale studio, Nodding Heads Games, maker of Raji: An Ancient Epic, and a Ubisoft studio. Electronic Arts runs a mobile studio and other units from HITEC City in Hyderabad.