India Imposes 28% Tax on Online Gaming, Delta Casino and Gaming Firms Suffer

The Indian government has announced a 28% tax on funds collected by online gaming companies, dealing a blow to the $1.5 billion industry that has gained popularity and foreign investment. Finance Minister Nirmala Sitharaman stated that the decision was made after consulting with states and was not intended to harm the industry. However, industry representatives argue that the tax will impact their earnings and may be passed on to customers. The move comes amid concerns over addiction and financial losses associated with gaming apps, which are endorsed by sporting heroes in cricket-loving India.