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Here are 7 future unicorn startups that are founded by women!

Homegrown vernacular social gaming platform <keyword id="7830073" type="General" weightage="80" keywordseo="winzo" source="Orion">WinZO</keyword> Games on Tuesday said it has challenged <keyword id="6355629" type="General" weightage="100" keywordseo="google" source="Orion">Google</keyword>'s recent policy in the Delhi High Court for the selective inclusion of only daily fantasy sports (DFS) and Rummy games on its <keyword id="1470391" type="General" weightage="80" keywordseo="play-store" source="Orion">Play Store</keyword> that leaves out several skill gaming platforms and local developers. WinZO has sought restraint from the court against Google from implementing the "arbitrary classification which will impact the reputation of its business." WinZO is among industry players, such as Mobile Premier League (MPL) and Zupee, who have called the policy arbitrary, unfair and restrictive. Saumya Singh Rathore, Co-founder, WinZO Games told IANS that there is no evaluation of the impact that is likely to result from such a clearly discriminatory and arbitrary classification by <keyword id="963171" type="General" weightage="50" keywordseo="google-play" source="Orion">Google Play</keyword>. "We fail to understand how Google is being permitted to select that within a set of legal/legitimate businesses, only DFS and Rummy will be onboarded and the other Skill Games, excluded," he stressed. Google was yet to reach on the WinZO lawsuit. Google is set to run a pilot test for the local developers to distribute their daily fantasy sports (DFS) and rummy games apps on Play Store in India, as e-sports become big in the country. Starting September 28, Play Store will begin a limited-time pilot allowing for the distribution of DFS and Rummy apps to users in India by developers incorporated in India. The pilot programme will run from September 28, 2022 until September 28, 2023. According to WinZO lawsuit, the Google policy will not only reduce the marketing cost for players in monopoly to one-fourth of their cost but also create a false perception of legitimation of DFS and Rummy over all other games such as Carrom, Chess, Quiz, etc. "Google's policy can lead to distortions in the competitive Indian gaming ecosystem by resulting in unparalleled access to the 2.5 billion monthly active users across 190 countries where the Google Play Store is available," said the lawsuit. Google Play Store is the largest app distribution platform owning 97 per cent market share in India. Sameer Barde, CEO of E-Gaming Federation had said that the Google move "helps legitimate skill gaming operators grow while eliminating unscrupulous fly-by-night operators," almost implying that companies excluded in the pilot are not legitimised. The Federation of Indian Fantasy Sports (FIFS) Director General, Joy Bhattacharya, had said that Google Play Store is allowing games "recognised by the <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> of India as regular business activities". In the K.R. Lakshmanan vs State of <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> (which most of the Rummy Companies cite for legality) case, the Supreme Court inferred Rummy as being a game of skill, and explicitly drew an analogy to other games of skill, like chess and golf. "The year-long pilot is detrimental to thousands of companies and can lead to irreversible market distortion of a fast-moving gaming tech industry, leading to the death of many players as the strong get stronger," Rathore told IANS. WinZO is seeking an injunction restraining Google from implementing its revised Playstore policy, along with a ruling that Google must change its policy to allow all apps offering games of skill on its Play Store and not just a select few. WinZO is available in 12 languages, with over 85 million registered users. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/moodys-withdraws-rating-of-kalyan-jewellers/articleshow/94322833.cms">Moody's withdraws rating of Kalyan Jewellers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/essar-group-targets-key-role-in-building-market-for-hydrogen/articleshow/94325146.cms">Essar Group targets key role in building market for hydrogen</a>

WinZO sues Google for Play Store policy allowing only fantasy sports, rummy games

Leading vernacular gaming platform <keyword id="7830073" type="General" weightage="100" keywordseo="winzo" source="Orion">WinZo</keyword> on Tuesday said it has acquired Gurugram-based casual game development studio <keyword id="14253012" type="General" weightage="50" keywordseo="upskillz-games" source="Orion">Upskillz Games</keyword> for an undisclosed sum in an all-cash deal. WinZO will collaborate with the <keyword id="14253011" type="General" weightage="80" keywordseo="upskillz" source="Orion">Upskillz</keyword> team from the concept stage of new game developments and will share support in terms of its technical expertise and resources. The acquisition will see WinZO onboarding the Blockchain and Web3-based offering from Upskillz as a part of its content portfolio while adding Upskillz's 1.3 million captive audience base to its platform. "WinZO is committed to unlock the latent potential of the Indian game development industry and set India at its rightful position as a leader of this $100 billion global mobile gaming market," said <keyword id="2774534" type="General" weightage="50" keywordseo="paavan-nanda" source="Orion">Paavan Nanda</keyword>, Co-founder of WinZO. WinZO recently made investments in Bengaluru-based Bombay Play, UK-based Village Studio and IndiGG, a blockchain based Gaming Guild under its $26 Million 'Game Developer Fund. The gaming platform has registered user base of over 80 million and hosts more than 100 games across 6+ formats of diverse genres. Since its inception, Upskillz has recorded a tremendous growth in users and revenues cumulatively growing at a CMGR of 75 per cent since May 2021. "Together, we are committed to develop world-class gaming titles powered by modern technology for users in India and globally," said <keyword id="14253013" type="General" weightage="50" keywordseo="mannit-sidhu" source="Orion">Mannit Sidhu</keyword>, Founder, Upskillz. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/it-cities-have-the-least-number-of-vacant-office-spaces-whereas-metros-like-delhi-and-mumbai-have-the-most/articleshow/92363232.cms">IT cities have the least number of vacant office spaces whereas metros like Delhi and Mumbai have the most</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/recession-in-the-us-could-drop-oil-prices-and-benefit-indian-economy-as-per-economists/articleshow/92361936.cms">A US recession could provide Indian economy the relief it needs</a>

WinZO acquires Gurugram-based game development studio Upskillz

Indian multi-player gaming and entertainment platform <keyword id="7830073" type="COMPANY" weightage="20" keywordseo="winzo">WinZO</keyword> on Friday said it has raised $65 million in a Series C funding round, led by California-based Griffin Gaming Partners. The fresh funding takes the total capital raised by the company to $90 million. According to the company, Griffin is making its first-ever investment in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> in WinZO. "With this raise, we plan to grow much faster and become an even more lovable product for our consumers. WinZO is poised and strategically well positioned to be one of the first 'Made in India' products that will rule the world in coming years," said Paavan Nanda, <keyword id="170488" type="COMPANY" weightage="20" keywordseo="co-founder">co-founder</keyword>, WinZO. WinZO said it seeks to position itself at the forefront of Indian gaming culture with an expansive influencer network catering to more than 50 million registered users. The platform is currently available in 12 languages. The company said it has grown its revenues tenfold over the last 12 months, and has partnered with over 100 leading game developers to realise the full potential of the Indian mobile gaming market. "We saw in WinZO's games incredible retention and monetisation metrics we believe set the company up for continued explosive growth and are proud to support the team on the journey," said Nick Tuosto, Co-Founder, of Griffin Gaming Partners and Managing Director and Head of Gaming at LionTree. Phil Sanderson, Co-Founder of Griffin Gaming Partners, will join WinZO's board of directors. This financing follows only eight months, after the company raised its Series B, from returning investors Makers Fund, Courtside Ventures, and Steve Pagliuca, Co-Chairman of <keyword id="6581358" type="COMPANY" weightage="20" keywordseo="Bain-Capital">Bain Capital</keyword>. Launched in early 2018, the company partners with third-party developers to host games on their <keyword id="6355645" type="COMPANY" weightage="20" keywordseo="Android">Android</keyword> app, where users can enjoy personalised multiplayer gameplay experiences. The platform is available in 12 languages such as English, Hindi, Gujarati, Marathi, Bengali, and Bhojpuri, with over 50 million registered users. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/google-is-working-on-a-new-app-to-let-you-store-your-medical-records/articleshow/84059948.cms">Google is working on a new app to let you store your medical records</a> <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-official-download-link-how-to-update-bgmi-rewards/articleshow/84058116.cms">Battlegrounds Mobile India launched officially – here’s how to update, claim rewards and more</a> <a href="https://www.businessinsider.in/business/startups/news/failure-to-pivot-covid-19-blues-force-amazon-backed-shuttl-to-look-for-a-buyer/articleshow/84056797.cms">Failure to pivot, COVID-19 blues force Amazon-backed Shuttl to look for a buyer</a>

Indian gaming platform WinZO raises $65 million led by Griffin Gaming Partners

New Delhi, Mar 19 () Vernacular e-sports gaming platform WinZO on Thursday said it has partnered with Tencent Games India for PUBG mobile tournaments on its platform. Under this partnership, PUBG mobile game will be available in 10 regional languages of India on the WinZO platform. "Tencent India's trust in WinZO is a testament to our unique vision and our distinctive strategy to develop a Netflix of Gaming. Together, we aspire to bring the best gaming experience to the mobile-first audience of Bharat," said WinZO co-founder Paavan Nanda. WinZO claims to have deep penetration in the non-urban regions of tier-III and V cities and towns with 80 per cent of the players are consuming the app in their own languages including Hindi, Bangla, Tamil, Telugu, Kannada, Gujarati, Marathi, Punjabi and Bhojpuri. "WinZO will be now conducting PUBG mobile's free-to-enter e-sports tournaments with prizes over Rs 1 crore per month," the company said in a statement. WinZO crossed the 20 million install base mark in a record time of less than a year with 90 per cent of its users coming from tier-II to V cities of India. The Delhi-based gaming firm claims to have more than 2 million bank accounts of users linked to its platform and is already clocking 200 million microtransactions per month. PRS HRS

WinZO partners Tencent Games India for PUBG mobile tournaments

<ul><li>WinZo, a vernacular Indian e-sports platforms, just invested $1.5 million to support local game developers in India. </li><li><keyword id="2774534" type="PERSON" weightage="20" keywordseo="Paavan-Nanda">Paavan Nanda</keyword>, former co-founder of <keyword id="2232457" type="PERSON" weightage="20" keywordseo="Zostel">Zostel</keyword>, and <keyword id="3227125" type="PERSON" weightage="20" keywordseo="Saumya-Singh">Saumya Singh</keyword>, a former member of the <keyword id="7888391" type="UNKNOWN" weightage="20" keywordseo="zorooms">ZORooms</keyword> team, are aiming to make WinZo a ‘household name' by the end of 2020.</li><li>The aim of the investment is to find independent game developers and partner with gaming studios to bring more original gaming content onto the e-sports platform.</li></ul>WinZo, India's largest gaming platform which is available in local languages, announced a $1.5 million fund to support game developers in India's gaming ecosystem. Founded by Paavan Nanda, former co-founder of ZORooms and Zostel, and Saumya Singh, a former member of the ZORooms team, WinZO is aiming to be a ‘household' name in India by the end of 2020 by targeting first time users in Tier 2 and Tier 3 cities. The Kalaari Capital-backed gaming platform wants to get the best of the talent with its new investment by "supporting and recognizing the small <keyword id="7888389" type="UNKNOWN" weightage="20" keywordseo="indian-game-developers">Indian game developers</keyword> who are sitting and making games in isolation," Singh told Business Insider India. So far, WinZo has 27 games on their platform — all made by game developers in India — but they're, more or less adaptations of existing games in the market. "Through this fund we are looking to partner with Gaming Studios as well as Independent Game Developers by offering them an infrastructure to develop top quality content and a powerful platform to monetize their games from day 1," adds Nanda. Monetizing gaming "We have a very strong emphasis on ensuring that the cost of developing a game gets compensated either through the platform or through the basic investment done by WinZO when it contracts a developer to make a game exclusively for the platform, " explains Singh. And, any game that gets pulled onto the platform, gets a share of the revenue. And, where does the revenue come from? As much as 20% of the users on WinZO are making their first online payment using the platform. "We aggregate the existing content and add an e-sports real money layer to it, so people are incentivised to make micro payments," says Singh. The incentive of winning combined, gives the user the thrill of playing with real money and WinZO a 10% platform commission.

A new $1.5 million fund is looking for good game developers in India

<ul><li>Indian gaming market to expect revenue of $1Billion by 2021.</li><li>Industry leaders seeking TDS clarifications &amp; GST incentives to foster market growth.</li><li>Lack of awareness around gaming as a career posing challenges to industry maturity.</li></ul>With <a href="https://in.pcmag.com/gaming/129946/esports-has-huge-potential-in-india-heres-what-the-experts-think">eSports</a> and <a href="https://in.pcmag.com/gaming/130231/the-success-of-esl-one-is-important-for-esports-in-the-country">gaming</a> expected to accrue revenues of $1 Billion in India by 2021, the Indian gaming industry is looking for considerations in the upcoming budget to help the sector grow rapidly. Prithvi Singh, the founder and chief technical officer at <keyword id="7337525" type="UNKNOWN" weightage="20" keywordseo="Gameskraft">Gameskraft</keyword> told Business Insider India, “When it comes to the online gaming sector, I believe the government should bring in some clarity around TDS deductions for real money games.” Speaking to <a href="https://www.moneycontrol.com/news/trends/sports-trends/budget-2019-a-look-at-what-the-gaming-industry-expects-4162021.html">Moneycontrol</a>, Kashyap Reddy, CEO and Co-founder of <keyword id="2563912" type="PERSON" weightage="20" keywordseo="Hitwicket">Hitwicket</keyword> believes that it’s time that the Indian Government takes a serious look at the Industry and provide support. Citing an example of Germany, which has established a national-level €50 million “Annual Gaming Fund”, Reddy says, “Lowering the goods and services tax (GST) on gaming revenue and cloud services to 5 per cent would also be a good initiative." Reddy believes there is immense scope for creating more jobs in this sector as gaming caters to a global market. Unlike traditional entertainment, mobile gaming is one of the cheapest forms of entertainment available to the public since most mobile games follow a “free to play” model. While the gaming industry has been recognised internationally, the lack of awareness around <a href="https://www.businessinsider.in/pubg-gamer-in-india-salary-sponsorships-and-opporutnities/articleshow/69952705.cms">gaming as a potential career</a> is a problem unique to developing markets like India. Traditional Indian households still look at gaming as a hobby, not a career that can translate to lucrative careers assured by medicine and engineering. The social-stigma surrounding gaming, with the activity often picked as a soft-target for violence, addition and poor academic performance is another concern around the development of the industry. Paavan Nanda, Co-founder of <keyword id="7830073" type="UNKNOWN" weightage="20" keywordseo="winzo">WinZO</keyword> games told Moneycontrol, “Favorable regulations” that help online gaming verticals can entice domestic and foreign institutional investors. He also believes that the Indian market is Nascent but strong and is “poised for strong growth surpassing China, owing to the growing youth population." Another area that can be improved on is digital payments and more initiatives from the government here would help push sales since most of these options are still locked away for a majority of Indians. See also: <a href="https://www.businessinsider.in/pubg-gamer-in-india-salary-sponsorships-and-opporutnities/articleshow/69952705.cms">Here’s what it’s like to be a gamer in India</a> <a href="https://www.businessinsider.in/google-games-india-new-feature-country-targeted-store-listings/articleshow/68473300.cms">Google arms mobile games with a new feature to target emerging markets like India</a> <a href="https://www.businessinsider.in/pubg-mobile-update-features-new-game-management-system-to-warn-users/articleshow/69351839.cms">Warning: You’ve been playing PUBG for far too long</a>

Budget 2019: Indian gaming industry wishlist

<ul><li><keyword id="74945" type="General" weightage="20" keywordseo="women-entrepreneurs" source="Orion">Women entrepreneurs</keyword> are not far behind in founding the most valuable businesses of this millennium. </li><li>Ghazal Alagh of Mamaearth, and Saumya Singh Rathore of Winzo, aged 35, each is the youngest woman in the list. </li><li>Ruchi Deepak, co-founder of Acko, and Amrita Sirohia, co-founder, Amrita Sirohia, co-founder, INDmoney, at 41, are the eldest women in the list </li></ul>When it comes to founding valuable new businesses, women <keyword id="53533" type="General" weightage="20" keywordseo="entrepreneurs" source="Orion">entrepreneurs</keyword> are giving men a run for their money. We take a look at top ten <keyword id="19669428" type="General" weightage="20" keywordseo="youngest-women-entrepreneurs" source="Orion">youngest women entrepreneurs</keyword> in India according to the first edition of ‘India's Top 200 Self-made Entrepreneurs of the Millennia 2023’ launched by I<a href="https://www.idfcfirstbank.com/personal-banking/wealth/First-Private#home">DFC FIRST Private</a> Banking and <a href="https://hurunindia.com/">Hurun India</a>. Ghazal Alagh, 35, Gurugram Ghazal Alagh is a self-made woman entrepreneur and the co-founder of Mamaearth, one of India's leading brands of natural and toxin-free skincare and baby care products. Alagh's journey started with a personal need – she was struggling to find safe and effective skincare products for her son. This inspired her to create her own brand, Mamaearth, which has since become a household name in India and recently went public. Saumya Singh Rathore, 35, New Delhi Saumya Singh Rathore, co-founder of WinZO, has contributed to building India's leading social gaming platform in local languages, boasting a user base exceeding 100 million. Since its inception in 2018, WinZO has secured funding surpassing $100 million, supported by key investors like Griffin Gaming Partners, Makers Fund, Courtside Ventures, and Steve Pagliuca. Rajoshi Ghosh, 36, Bengaluru Rajoshi Ghosh, a serial entrepreneur, serves as the COO and co-founder of Hasura, a software technology company based in San Francisco. Beyond her role at Hasura, she has initiated five other startups. She holds the title of a World Economic Forum Global Shaper and commenced her professional journey as a published bioinformatics researcher specialising in genomics at the Genome Institute of Singapore. Dr. Garima Sawhney, 37, Gurugram Dr. Garima Sawhney, a co-founder at Pristyn Care, is a leading figure in India's healthcare. Renowned for her expertise in gynaecology, she embarked on her career as a doctor, honing crucial life skills during her tenure at a government hospital. Her leadership, born from compassionate patient care, has steered Pristyn Care to a valuation of $1.4 billion. Kanika Gupta, 39, Gurugram Kanika Gupta Shori holds the position of co-founder and COO at Square Yards, an integrated real estate marketplace. With an educational background from Wharton Business School, she brings more than 11 years of experience in both banking and entrepreneurial pursuits. Beyond her professional roles, Kanika actively contributes to initiatives centred around empowering women and supporting children's welfare. Vineeta Singh, 40, Mumbai Vineeta Singh is an Indian entrepreneur and investor who is the co-founder and CEO of SUGAR Cosmetics, a popular Indian beauty brand. Singh is also a judge on the Indian reality television show Shark Tank India. Singh is known for her tough questioning and her willingness to invest in businesses that she believes have the potential to succeed. Ruchi Kalra, 40, Gurumgram Ruchi Kalra, an entrepreneur from Gurgaon, has co-founded two unicorn startups – OfBusiness and Oxyzo with her husband, Ashish Mohapatra. Ruchi's successful business approach centres on extracting profit from each transaction, a strategy that has proven effective. She and her husband are the first couple who has founded two unicorns. Mabel Chako, 40, Bengaluru Mabel Chako, co-founder and chief operating officer at Open, boasts a 13-year entrepreneurial journey in financial technology. Her expertise spans intricate financial landscapes, honed through roles at Citrus Payment Solutions and PayU. Her founding of CashNxt in 2007 and Zwitch in 2013 (later acquired by Citrus Payments) underscores her entrepreneurial acumen and commitment to innovative solutions. Ruchi Deepak, 41, Mumbai Ruchi Deepak, co-founder of Acko, hails from Jamshedpur and pursued her bachelor's degree at Lady Shri Ram College, followed by Law at Delhi University. Ruchi aimed for meaningful innovation in financial services. Witnessing the industry's focus on selling to distributors rather than customers directly, she envisioned a shift. Co-founding Acko with Varun Dua, they leveraged technology to revolutionise insurance experiences. Amrita Sirohia, 41, Gurugram Amrita Sirohia, co-founder of INDmoney, embarked on her journey in the financial sector driven by a passion for technology and finance. Amrita's professional trajectory includes roles at renowned companies like Google and Barclays, which led to her understanding of financial complexities and technological innovation. Co-founding INDmoney, her aim was to democratise wealth management through tech-enabled financial solutions, empowering individuals to navigate and optimise their financial portfolios efficiently.

She power: The top 10 youngest women entrepreneurs in India

A chartered flight carrying <keyword id="6358821" type="General" weightage="80" keywordseo="shiv-sena" source="Orion">Shiv Sena</keyword> MLAs, who have rebelled against the party bringing a crisis to the MVA government in <keyword id="13126" type="General" weightage="100" keywordseo="maharashtra" source="Orion">Maharashtra</keyword>, arrived here early Wednesday. Sources said that the flight from Surat in Gujarat landed at Guwahati's Lokapriya Gopinath Bordoloi international airport at around 6.30 am. The exact number of rebel Shiv Sena MLAs travelling in the flight is not known immediately but the flight had 89 passengers, including onboard crew, sources said. The Maharashtra MLAs are being taken in special buses to a city hotel with police protection. Assam is currently ruled by a BJP-led government. The move came after <keyword id="8524279" type="General" weightage="50" keywordseo="shiv-sena-minister" source="Orion">Shiv Sena minister</keyword> <keyword id="193503" type="General" weightage="50" keywordseo="eknath-shinde" source="Orion">Eknath Shinde</keyword> rebelled against the party and herded some MLAs to BJP-ruled Gujarat. Top leadership of Assam BJP and the state government are believed to have been making arrangements for the rebel Shiv Sena MLAs accommodation in Guwahati. This is perhaps for the first time that MLAs from a Western Indian state is being taken to a Northeastern state after their rebellion against the party leadership. Earlier, Shiv Sena MP <keyword id="6355496" type="General" weightage="50" keywordseo="sanjay-raut" source="Orion">Sanjay Raut</keyword> claimed 14 to 15 Sena MLAs, including some ministers, are with Shinde in Gujarat's Surat city. However, another party leader said the number could be 23. The Shiv Sena, which heads the MVA, has 55 MLAs, followed by allies NCP (53) and the Congress (44) in the 288-assembly where the current simple majority mark is 144. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/stashfin-raises-270-million-to-expand-its-neobanking-footprint-in-southeast-and-south-asia/articleshow/92363534.cms">Neobanking startup Stashfin raises $270 million to expand its footprint in Southeast and South Asia</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/winzo-acquires-gurugram-based-game-development-studio-upskillz/articleshow/92363531.cms">WinZO acquires Gurugram-based game development studio Upskillz</a>

Rebel Sena MLAs arrive in Assam as Maharashtra political crisis continues

<ul><li>The Indian government is reportedly all set to increase <keyword id="6354679" type="General" weightage="80" keywordseo="gst" source="Orion">GST</keyword> on online gaming to 28%, a proposal that could spell trouble for the industry and players alike. </li><li>The online gaming industry is expected to cross $5 billion valuation by 2025, but the taxman’s greed could kill the golden-egg laying hen. </li><li>Experts are worried about the impact this could have on the industry – both the players and the businesses, which are still in their early days. </li></ul>The Indian government is reportedly all set to tax casinos, online gaming and horse racing at the highest slab of GST – 28%. Looks like the taxman is intent on treating these recreational activities and skills on par with tobacco, cigarettes, <a href="https://www.businessinsider.in/cryptocurrency/news/28-gst-on-crypto-transactions-india-is-reportedly-mulling-another-tax-levy-next-week/articleshow/92407767.cms">cryptocurrencies</a> and luxury cars. Online betting, gambling, casinos and horse racing have long been treated ‘unfairly’ by the Indian taxman – while GST has been considerably moderate at 18% until now. Winnings and other income earned from these activities have been taxed at the highest rate of 30% without any deductions whatsoever. Now, a new <a href="https://economictimes.indiatimes.com/news/economy/policy/28-gst-likely-on-casinos-online-gaming-horse-races-on-gross-revenue/articleshow/92474293.cms?from=mdr">report</a> suggests that the government is mulling increasing the GST rate to 28% – the highest in effect currently. This will be applicable on compulsory food and beverages as well, driving up the costs for businesses and participants. <div type="Article" hostid="261" msid="92356710" title="INTERVIEW: The big picture on 5G, Big Tech-telco war with COAI’s Dr SP Kochhar" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Fantasies are taxed too, and that too doubly" comment="subhead" text="Fantasies are taxed too, and that too doubly">Fantasies are taxed too, and that too doubly</cmsannotation> The government proposal says that GST will be charged on the gross revenue, not the net value added, which goes against both global tax ethics – as well as the very foundation of the GST regime, which intends to remove the undesirable double taxation effect. "Taxing online gaming, horse racing, and casinos at gross revenue instead of net value addition would be a departure from the global tax ethics," Rajat Mohan, senior partner, AMRG &amp; Associates told PTI. This could have an adverse impact on the entire industry. For instance, the online gaming sector which includes the likes of MPL, Zupee, Winzo and other startups, is expected to cross $5 billion in valuation by 2025, according to a <a href="https://www.ibef.org/blogs/india-s-nascent-gaming-industry-on-the-rise">IBEF report</a>. The government earned nearly ₹1,500 crore from fantasy sports in the form of taxes in FY21. A Deloitte report says that the combined industry contribution could cross a whopping ₹16,000 crore cumulatively over the next two years. And the taxman believes that he found a goose which lays golden eggs. <cmsannotation type="cmsannotation" annotationid="The costly game of confusion" comment="subhead" text="The costly game of confusion">The costly game of confusion</cmsannotation> The online gaming industry has been plagued by the ambiguous nature of government’s tax policies. The taxman has often been said to be confused about the nature of online games – whether those involve skills or are just gambling. It might be justified to tax gambling at the highest rate of tax, but experts believe that punishing games of skill in the same manner is unfair. To make matters worse, the government wants to raise the tax from 18% to 28%. <cmsannotation type="cmsannotation" annotationid="Mukesh Ambani, Rakesh Jhunjhunwala and more, to be affected" comment="subhead" text="Mukesh Ambani, Rakesh Jhunjhunwala and more, to be affected">Mukesh Ambani, <keyword id="6398943" type="General" weightage="80" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword> and more, to be affected</cmsannotation> This can also have an adverse impact on telcos, which are banking on online gaming as a new revenue stream as the industry seems to be entering a phase of stagnation. “Rather than being just the pipe, telcos like Jio (RIL owned) and Bharti are focusing on gaming as an incremental source of ad/subscription revenue. In fact, RIL believes that gaming in India will be bigger than music, movies and television shows put together,” said a report by Bank of America Securities. This could also impact <keyword id="201442" type="General" weightage="50" keywordseo="delta-corp" source="Orion">Delta Corp</keyword>, the only listed casino operator in the country which has seen its fortunes fade away, with even Rakesh Jhunjhunwala paring down his holdings in the company considerably. <div type="javascript" title="Custom" contenttype=""><cdata><![CDATA[]]></cdata></div> “This would be a distress the business model to a great extent as the touted super tax will have to be funded either by the platform, who do not make that kind of money in this business or would go on to reduce the prize pool size – effectively bringing down the interest in customer engagement,” Adarsh Somani, senior partner at ELP Law, told Business Insider India. This would wreak havoc on the gaming industry, and even if the government wants to reduce difficulties by offering a single – but higher – rate of tax, the valuation methodology will have to be made clear, Somani added. As things stand today, there is plenty of ambiguity that will have to be worked out by the government – even a small misstep could spell a lot of trouble for the gaming industry and its participants. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/auto-and-finance-stocks-can-bounce-back-even-if-the-market-crashes-in-july/articleshow/92436186.cms">Auto and finance stocks can bounce back even if the market crashes in July</a> <a href="https://www.businessinsider.in/finance/news/rbi-kept-the-rupee-exceptionally-stable-so-far-and-the-tide-could-turn-for-the-better-say-experts/articleshow/92414356.cms">RBI kept the rupee ‘exceptionally’ stable so far, and the tide could turn for the better say experts</a> <a href="https://www.businessinsider.in/business/telecom/news/interview-the-big-picture-on-5g-big-tech-telco-war-with-coais-dr-sp-kochhar/articleshow/92356710.cms">INTERVIEW: The big picture on 5G, Big Tech-telco war with COAI’s Dr SP Kochhar</a>

India is betting on casinos, online games and horse races to fill its coffers

<ul><li><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> today launched <keyword id="10897154" type="UNKNOWN" weightage="20" keywordseo="JioBusiness">JioBusiness</keyword>, which will offer enterprise grade-level fibre connectivity, digital solutions and devices to enable the micro small and medium businesses.</li><li>Dukaantech was a term given to companies that help kirana stores or traders grow their business online.</li><li><keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword>’s bet in the segment comes with offering services at a cheaper cost.</li></ul>India’s richest man <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s latest offering is in a space that has been the rage for over a year now – dukaantech, a term given for companies that help kirana stores (mom-and-pop stores) or traders grow their business online. Reliance Jio today launched JioBusiness, which claims to offer enterprise grade-level fibre connectivity, digital solutions and devices to enable the same. “Micro, small and medium businesses are the bedrock of Indian economy. Currently, in the absence of an integrated digital services offering and the knowhow to adopt advanced enterprise offerings, they are unable to leverage the power of digital technologies to run their businesses efficiently,” said Akash Ambani, director of Jio in a statement. Jio’s bet in the segment comes with offering services at a cheaper cost. The connectivity plans start at ₹901 per month, while the plans with all three solutions start at ₹5,500 per month. “Currently, a micro and small business spends between ₹15,000 to ₹20,000 per month towards connectivity, productivity and automation tools. Today, we are taking the first step towards empowering small businesses by giving these solutions, along with our connectivity, for less than 1/10th the cost, starting below one thousand rupees per month,” added Akash Ambani in the statement. In 2019, Reliance Industries Limited (RIL) had made the first step in this direction, with an acquisition of Nowfloats. RIL had acquired a controlling stake of 85% in the Hyderabad-based startup Nowfloats for ₹141.63 crores. Nowfloats offers SaaS based solutions to SMEs, enabling their digital presence. These developments can be seen to be in line with Reliance’s e-commerce venture JioMart’s plans, where it is also working with kirana stores and small businesses in the country, to bring them online. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/hike-is-selling-its-stake-in-winzo-as-kavin-mittal-enters-gaming-on-his-own/articleshow/81410221.cms">EXCLUSIVE: Hike is selling its stake in WinZO as Kavin Mittal enters gaming on his own</a>

Mukesh Ambani targets to take 50 million MSMEs online as Reliance launches JioBusiness

The <keyword id="1129131" type="PERSON" weightage="20" keywordseo="scientific-community">scientific community</keyword> has stated that they had hinted to the Central government about the <keyword id="2987267" type="PERSON" weightage="20" keywordseo="new-variants">new variants</keyword> of Covid-19 virus and also an increase in the cases in May this year. The community, however, did not make any prediction due to lack of data analysis. Dr. M. <keyword id="6541669" type="PERSON" weightage="20" keywordseo="vidyasagar">Vidyasagar</keyword>, who is a professor at <keyword id="6354859" type="COMPANY" weightage="20" keywordseo="IIt">IIT</keyword> (Hyderabad), stated that by March 13 this year Covid cases were showing an upward trend but as they did not have requisite data available so they did not make any prediction. Vidyasagar further stated that after they hinted, the government said the authorities made long- and medium-term plans to short-term plans. Based on the events of the past few weeks, however, those plans seem to have been inadequate, said Vidyasagar citing the current crisis of oxygen supply across the country. The IIT Kanpur study in April also stated that the daily cases in the second wave will increase by May 8. The Kanpur study also predicted a peak of 38 to 44 lakh active cases between May 14 and May 18. The scientists also stated in March that they had alerted the government about the new and more contagious variant of the coronavirus -- SARS-CoV-2 Genetics Consortium, or INSACOG. The institution was set up by the government in December last year, specifically to detect genomic variants of the coronavirus. The institution examined 10 national laboratories across the country studying virus variants. The institution first detected B.1.617 as early as February. Ajay Parida, director of the state-run <keyword id="3748353" type="COMPANY" weightage="20" keywordseo="institute-of-life-sciences">Institute of Life Sciences</keyword> and a member of INSACOG, reportedly stated that they first detected B.1.617 in February and alerted the government. The <keyword id="83655" type="COMPANY" weightage="20" keywordseo="Union-health-ministry">Union Health Ministry</keyword>'s <keyword id="6367874" type="COMPANY" weightage="20" keywordseo="national-centre-for-disease-control">National Centre for Disease Control</keyword> received the finding in March. The finding reportedly stated that the mutations, called E484Q and L452R, were of high concern. It stated E484Q mutant viruses escaping highly neutralising antibodies in cultures, and L452R mutation was responsible for both increased transmissibility and immune escape. The mutated versions of the virus could more easily enter a human cell and counter a person's immune response to it, according to the findings. The ministry put the findings in public domain in March stating that 'more problematic variants required following measures already underway'. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tata-power-says-it-has-no-such-decision-on-an-ipo-for-its-renewable-energy-business/articleshow/82365533.cms" style="">Tata Power says it has ‘no such decision’ on an IPO for its renewable energy business</a> <a href="https://www.businessinsider.in/business/startups/news/gaming-startup-winzo-gives-complete-exit-to-hike-kavin-mittal-gets-four-times-return-on-investment/articleshow/82367340.cms" style="">Gaming startup WinZO gives complete exit to Hike – Kavin Mittal gets four times return on investment</a> <a href="https://www.businessinsider.in/india/news/adar-poonawalla-estimates-two-more-months-of-covid-19-vaccine-shortage-in-india/articleshow/82366770.cms">SII’s Adar Poonawalla estimates two more months of COVID-19 vaccine shortage in India — and the blame game is heating up</a>

You Searched For "winzo" and got 12 results

Here are 7 future unicorn startups that are founded by women!

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WinZO sues Google for Play Store policy allowing only fantasy sports, rummy games

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WinZO acquires Gurugram-based game development studio Upskillz

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Indian gaming platform WinZO raises $65 million led by Griffin Gaming Partners

IANS

WinZO partners Tencent Games India for PUBG mobile tournaments

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A new $1.5 million fund is looking for good game developers in India

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Budget 2019: Indian gaming industry wishlist

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Rebel Sena MLAs arrive in Assam as Maharashtra political crisis continues

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India is betting on casinos, online games and horse races to fill its coffers

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Mukesh Ambani targets to take 50 million MSMEs online as Reliance launches JioBusiness

Sanchita Dash

Warned the Centre about new COVID-19 variants and surge in cases, says scientist community

IANS

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