Mukesh Ambani sees online gaming as the next big thing in India

Mukesh Ambani. Photo: Bloomberg

For Asia’s richest man, online gaming could be the next big thing in his home market.

“There is a huge potential” for gaming to grow in India, Mukesh Ambani, chairman of Reliance Industries Ltd., said while speaking with Microsoft Corp. Chief Executive Officer Satya Nadella in Mumbai on Monday. “Gaming will be bigger than music, movies and television shows put together.”

Ambani said gaming doesn’t really exist in India and sees a huge opportunity with increasing broadband connectivity. He didn’t disclose whether his wireless upstart, Reliance Jio Infocomm Ltd., will enter the gaming segment, after luring 380 million users to its 4G technology.

Ambani’s interest in gaming comes at a time when the country is witnessing the growth of online fantasy sports leagues, quizzing and card games such as poker. This is being aided by the proliferation of affordable smartphones — users are expected to reach 850 million in two years — high-speed internet and falling data prices.

Revenue from online gaming is expected to climb from 43.8 billion rupees ($610 million) in the year ended March 2018 to 118.8 billion rupees by fiscal 2023, KPMG said in a March 2019 report.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.