New Delhi, Jan 3: India’s gaming industry is experiencing remarkable growth, transforming the country into a major force in the global gaming landscape.

By 2028, the APAC region is projected to generate $181.8 billion in gaming revenue, representing 54.4 per cent of the global market. Within this region, India’s online gaming market is expected to reach Rs 66,000 crore by 2028, expanding at a compound annual growth rate of 14.5 per cent.

Several factors contribute to this growth, including India’s young demographics, with nearly 600 million people under 35 years of age. Coupled with some of the world’s most affordable mobile data prices and over 650 million smartphone users, India has cultivated a strong culture of digital entertainment consumption, particularly in gaming.

The industry’s growth is particularly evident in two key segments. The real-money gaming (RMG) market has gained significant momentum through skill-based games, while the social and casual gaming sector continues to expand its reach among young adults and working professionals.

This surge in app-based gaming reflects broader changes in entertainment preferences, driven by increasing smartphone adoption and improved internet connectivity.

To further tap into India’s burgeoning gaming market, realme has joined forces with KRAFTON India as the official smartphone partner for Battlegrounds Mobile India Series (BGIS) 2025 and Battlegrounds Mobile India Pro Series (BMPS) 2025.

Marking 2025 as its first dedicated gaming year, realme has positioned esports as a core strategic focus. This strategic collaboration comes at a pivotal time, as India is projected to reach 720 million mobile gamers by 2028. The partnership will kick off with the BGIS 2025 LAN Finals in Kolkata, featuring a substantial prize pool of Rs 2 crore, demonstrating the scale of investment in competitive gaming.

To realise this gaming-focused vision, realme has established an internal team, bringing together specialists from research and development, marketing, and product departments.

The team works closely with KRAFTON India on joint research and development and exclusive debugging initiatives, demonstrating realme’s commitment to building a robust e-sports ecosystem.

Following its “make it real” philosophy, this commitment is already evident in devices like the realme GT 7 Pro, which has been well-received in the Indian market for its strong gaming performance capabilities.

The realme GT 7 Pro will also be serving as the official smartphone for BGIS 2025.

The collaboration represents a significant step in realme’s broader vision to revolutionise the mobile gaming landscape in India.

Through strategic investments in esports infrastructure, grassroots initiatives, and technological innovation, realme aims to make premium gaming experiences more accessible while nurturing the next generation of esports athletes.

Beyond tournaments, the partnership focuses on building a comprehensive ecosystem that supports content creators and provides interactive platforms for the gaming community, leveraging realme’s expertise in high-performance smartphones and KRAFTON’s influential position in the gaming industry to create a more engaging gaming ecosystem for Indian users.

The convergence of realme’s technological expertise and KRAFTON’s gaming prowess marks an important milestone in India’s gaming journey.

As the country continues its trajectory to become a global gaming powerhouse, collaborations like these between technology and gaming leaders will play a crucial role in shaping the future of mobile gaming and e-sports in the country.

New Delhi, Jan 2: As 2025 begins on a note of heightened global uncertainties ahead of the US President-elect Donald Trump’s inauguration, India continues to be in a much stronger position with high frequency indicators showing a pick up in the pace of growth in the third quarter of current fiscal (Q3 FY25), according to a report on Thursday.

GST collections, services purchasing managers’ index (PMI), air passenger growth, and vehicle registrations saw a notable improvement in Q3 versus Q2, according to a Bank of Baroda (BoB) report.

On the other hand, in China, while the manufacturing sector is expanding slowly, lifting domestic consumption and reviving the real estate sector is proving to be a task for the administration.

The US economy is giving mixed signals regarding growth. While the labour market appears to be softening and manufacturing activity is weak, retail sales, pending home sales, and the service sector seem to be doing well. In Europe, manufacturing activity is unable to pick up pace so far, while the service sector is regaining ground.

In India, the current account deficit (CAD) narrowed to 1.2 per cent of GDP in Q2 FY25 from 1.3 per cent of GDP in Q2 FY24.

“While the trade deficit was higher, buoyant services exports as well as continued strength in remittances underscored the lower CAD. Our year-end market analysis shows that both Sensex and Nifty 50 surged by 8.7 per cent and 9 per cent in CY24. Sensex touched an all-time high this year as it breached the mark of 85,500,” said Sonal Badhan, economist, Bank of Baroda.

Sectors including real estate, consumer durables, and IT were amongst the best-performing stocks in CY24. The Indian rupee depreciated by 2.8 per cent in 2024, but remained one of the better-performing currencies among its peers.

The pressure on yields was lower and boosted demand flow as the market witnessed the bond inclusion in the JP Morgan emerging market index, Bloomberg, and FTSE Russel.

According to the report, high frequency indicators have shown notable improvement in the October-December 2024 period. GST collections have jumped by 8.3 per cent (YoY) in Q3 to Rs 5.5 lakh crore, and are also up from Rs 5.3 lakh crore in Q2, signalling further improvement in consumption pattern.

Apart from this, helped by festive demand, other indicators of urban consumption have also improved. Air passenger air traffic registered 11.6 per cent growth in Q3, compared with 7.8 per cent growth registered in Q2. Services PMI averaged 59.2 in Q3 versus 58.1 in the same period last year.

“We expect quarterly corporate results to also show improved performance in Q3,” said Badhan.

On the central bank actions, the report said growth is expected to recover in H2 FY25 and inflation abating, “we see a scope of 25 bps rate cut in February 2025. We expect a cumulative easing of 50-75bps in the current cycle.”

Furthermore, with the expectation of a pick-up in government spending followed by improvement in both government and private investment in H2, the IIP growth will perform a lot better in H2 FY25 from H1 FY25, it noted.

Mumbai, Jan 2: Maharashtra’s biggest industrial land parcel measuring over 5,286 acres — at a strategic location close to the Navi Mumbai Airport, JNPT and the Mumbai Trans Harbour Link project — has been sold to Reliance Industries Ltd at a valuation of mere Rs 2,200 crore.

Anand Jain-promoted Jai Corp Ltd. informed the stock exchange that Urban Infrastructure Holdings Pvt. Ltd., a firm in which his company holds 32 per cent, is convening an extraordinary general meeting (EGM) of shareholders to approve capital reduction proposed by the company.

The company informed the stock exchange that the subsidiary of Urban Infrastructure Holdings Pvt. Ltd., i.e., Dronagiri Infrastructure Pvt. Ltd. (DIPL), sold its 74 per cent stake in Navi Mumbai IIA Pvt. Ltd. for Rs 1,628.03 crore, valuing the company at Rs 2,200 crore to Reliance Industries Ltd.

Mukesh Ambani-led RIL informed the exchanges on December 13, 2024, that pursuant to the waiver of the first right of refusal by the City and Industrial Development Corporation of Maharashtra Ltd. (CIDCO), it has bought 57.12 crore equity shares representing 74 per cent of Navi Mumbai IIA Private Limited (NMIIA), formerly called Navi Mumbai SEZ, at a price of Rs 28.50 per equity share, aggregating Rs 1,628.03 crore, valuing the 5,286-acre project at an equity value of Rs 2,200 crore.

After the acquisition, NMIIA became a 74 per cent subsidiary of the company, it said in a disclosure to the stock exchange.

NMIIA was incorporated on June 15, 2004, and is engaged in developing the Integrated Industrial Area (IIA) in Maharashtra. Navi Mumbai IIA Pvt. Ltd. in the financial year ending March 2018 was allowed by the Maharashtra government to be converted from an SEZ into an Integrated Industrial Area (IIA). NMIIA has been appointed as the Special Planning Authority for the notified areas of Dronagiri, Kalambol.

The Navi Mumbai SEZ was once said to be estimated as having an economic potential of over Rs 1 lakh crore after the Mumbai Trans Harbour Link (Atal Setu) and Navi Mumbai Airport get operational. NMIIA is a strategically located industrial zone as it is in close proximity to the upcoming Navi Mumbai International Airport, the Jawaharlal Nehru Port, the Mumbai Trans Harbour Link and the Mumbai-Pune Highway.

RIL, in its statement, said that the investment is not a related party transaction and none of the company’s promoters, the promoter group, or group companies have any interest in the above transaction.

But Urban Infrastructure Holdings Private Ltd. (UIHPL) is owned 33 per cent by Mukesh Ambani-led Reliance group companies, 32 per cent by Jai Corp Group led by Anand Jain and SKIL Infrastructure, which is currently under NCLT proceedings, held 35 per cent as per its annual report for the financial year ending March 2023, according to credit rating agency Care Ratings, which had rated Navi Mumbai SEZ instruments in March 2021.

Urban Infrastructure Holdings Private Ltd. held a 99 per cent stake in Dronagiri Infrastructure, which owns 74 per cent in Navi Mumbai IIA Pvt Ltd. The remaining stake is held by the government agency CIDCO.

According to the SKIL Infrastructure website, Navi Mumbai IIA achieved financial closure for 2,140 hectare (approx 5286 acre) and is currently developing the site. It said the company is the lead consortium member for Navi Mumbai IIA Ltd., with the balance of equity held by Reliance Group Investment and Holding Private Ltd., a Mukesh Dhirubhai Ambani Group company.

Dronagiri Infrastructure was scheduled to convene a shareholder meeting on January 2, seeking approval for reduction of share capital.

The Board of Urban Infrastructure, i.e., the owner of Dronagiri, has proposed to reduce 99.76 per cent of its share capital (i.e., equity shares and fully compulsorily convertible preference shares, or CCPS) on a proportionate basis and pay an aggregate consideration of Rs 3,746.87 crore to its shareholders towards such capital reduction on a proportionate basis and considering CCPS on an as is converted basis.

Out of this, owners of Urban Infrastructure have already received the promoter’s contribution towards equity of Rs 1,597 crore. Dronagiri will distribute Rs 1,492.50 crore along with any interest that has accrued and redeem Optionally Fully Convertible Debentures for Rs 682 crore held by its subsidiary Vinamra Universal Traders Private Limited.

Thus, the total funds that UIHPL will receive will be a minimum of Rs 3,772 crore. UIHPL, which held a 99 per cent stake in DIPL, had also issued Compulsorily Convertible Debentures to Reliance (Mukesh Ambani) Group. On the conversion of CCDs, Reliance, along with Jai Corp Group, will hold a substantial equity stake in UIHPL, the rating agency had said. This would have resulted in Reliance Group and Jai Corp Group indirectly having a controlling stake in NMIIA.

In addition, the funding requirement of NMIIA is met out of equity and share application money (through UIHPL) as well as deposits from the wholly owned subsidiary of RIL.

Till December 31, 2022, NMSEZ received equity capital and share application money of approximately Rs 3,100 crore and deposits to the extent of Rs 6,038, according to Care Ratings. It is not clear what the status of these deposits is since then.

As per the 2023-24 balance sheet, Reliance has advanced close to Rs 6,162 crore to its subsidiary Reliance 4IR Realty Development Ltd., which in turn used a portion of the provided loans and invested substantially in the Zero Coupon Unsecured Optionally Fully Convertible Debentures of several SPVs involved in development in the Dronagiri, Kalamboli, and Ulwe areas.

The rating agency, though, wrote that since the project has been cleared by the Environment Ministry, the demand for the plots within the area is expected to increase. Furthermore, there is no major capital expenditure left to be incurred in the project, and there has been a significant appreciation in the value of land in the last couple of years.

However, this high economic value does not seem to reflect in the cost of acquisition of the project by Reliance Industries.