Tasva, The Mens Indian Wear Brand, Staged 'BAARAAT By Tasva' With Ranbir Kapoor Leading The Show

In a dazzling display of designer wedding wear, TASVA by Aditya Birla Fashion Retail Ltd in collaboration with ace designer Tarun Tahiliani, hosted an unforgettable fashion show, ‘BAARAAT' by Tasva unveiling its Autumn/Winter 2024 Wedding Collection. The grand event took place on Sunday, 13th October 2024, at the majestic Travancore Palace, New Delhi, and left an indelible mark on all who attended. The evening reached its dramatic conclusion with Bollywood icon Ranbir Kapoor leading the spectacular finale, celebrating the essence of Indian weddings with unmatched style and grandeur.

The ‘BAARAAT' by Tasva, was inspired by the lively and vibrant Indian wedding procession, reimagined as a fashion showcase that spotlighted the groom. The baaraat, traditionally symbolizing the groom’s joyous arrival, was presented in this unconventional and visually stunning fashion show.

Known for his impeccable style and charisma, Ranbir Kapoor perfectly embodied the Tasva man. He closed the show with a magnificent Indian wedding-style baaraat, making it the highlight of the evening. Reflecting on his participation in the event, Ranbir Kapoor shared, "Stepping onto the runway in the BAARAAT collection was an exhilarating experience, celebrating the fusion of tradition and modern flair! Today’s grooms are more than just part of the ceremony; they are the heart of the story. This collection gave them the opportunity to express their individuality while honoring their roots. With its luxurious textures and bold silhouettes, it redefines menswear and ensures every groom’s journey is unforgettable!" 

In addition, the runway was graced by a stellar lineup of personalities who brought their unique charm and style to the event. Rising star Vihaan Samat, celebrated comedian Anubhav Singh Bassi, Michelin Star Chef Suvir Saran and popular digital influencers, Mohak Narang, Manav Chhabra, Unnati Malharkar, and Apoorva (also known as "The Rebel Kid") showcased Tasva's exceptional wedding collection with poise and flair. Each of them embodied the spirit of the modern Indian groom in their own way, seamlessly blending tradition with contemporary style. Their presence added a youthful, dynamic energy to the show, making the 'BAARAAT by Tasva' event a true celebration of individuality and fashion. With their distinctive personalities, they captured the essence of Tasva's ethos, making the event even more memorable for the audience. 

About the Collection

The Autumn Winter 2024 Wedding Collection presents an exquisite array of wedding wear designed for the modern Indian groom. This collection skillfully blends contemporary influences with traditional Indian artistry, drawing inspiration from Romanesque architecture, Baroque opulence, and abstract art. Featuring intricate Shikargah and Phulkari motifs, the collection brings flora and fauna to life with Aari work, mirror work, zardosi embroidery and pearl embellishments.

Featuring contemporary silhouettes like the angrakha sherwani, tailored dinner jackets, and asymmetrical designs, it presents a modern take on tradition. The collection offers a refined color palette, ranging from soft pastels like ivory, gold, lilac, salmon, and jade, perfect for wedding ceremonies, to deep jewel tones ideal for cocktail and mehendi events.

“The great Indian wedding culminates in the actual ceremony and the heart of this is the groom. The modern groom, who comes with joy, modernity, and individuality. My vision blends traditional craftsmanship with contemporary tailoring, ease and comfort for a modern lifestyle, which allows the young man today to express their unique narrative through refined silhouettes and artistry, that they’ve got accustomed to while wearing western clothes. You want Indian clothing to be supremely comfortable. Each piece is not just a clothing to be endured, it is something that’s worn for the most important days, it’s a statement of one’s self, crafted for a significant moment, and we know that the answer is Tasva.”says Tarun Tahiliani, Chief Design Officer, Tasva

Tasva continues to push the boundaries of wedding fashion in India, elevating the groom’s style with every collection. “As a brand, our goal at Tasva has always been to make designer Indian wear accessible to more customers. With our AW ’24 Wedding Collection, we’re thrilled to offer modern grooms a stylish blend of tradition and contemporary flair. We are a brand for new age men who are looking for sophistication & elegance in their occasion wear – and our talented store stylists are always at hand to help each of them look their best. Baarat by Tasva represents the culmination of our teams’ efforts in bringing this proposition alive for the upcoming wedding season & we are very excited to finally host it” says Ashish Mukul, Brand head, Tasva

About Tasva

Tasva, a wedding and occasion wear brand for the modern Indian man, is a brand launched by ABFRL in collaboration with ace couturier Tarun Tahiliani. Tasva is dedicated to offering classy and comfortable Indian wear. With a strong emphasis on craftsmanship and contemporary style, Tasva is redefining Indian wear for the modern man. The brand offers an extensive range of kurtas, kurta bundi sets, sherwanis, Indo-western outfits, footwear, and accessories. The brand's exquisite products are available at exclusive Tasva stores across India and online at www.Tasva.com

About Aditya Birla Fashion and Retail Limited

ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs. 13,996 Cr. spanning retail space of 11.9 million sq. ft. (as on March 31, 2024), it is India’s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.

The Company has a network of 4,664 stores across approximately 37,205 multi-brand outlets with 9,563 point of sales in department stores across India (as on 31st March 2024).

It has a repertoire of India’s largest brands in Louis Philippe, Van Heusen, Allen Solly and Peter England, established over 25 years. Pantaloons is one of India’s leading fashion retailers.

Company’s international Brands portfolio includes - The Collective, Amongst India's largest multi-brand retailers of international brands and has long term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, Simon Carter and Galeries Lafayette.

The Company’s foray into branded ethnic wear business includes brands such as Jaypore, Tasva & Marigold Lane. The company has strategic partnerships with Designers ‘Shantanu & Nikhil’, ‘Tarun Tahiliani’, ‘Sabyasachi’ and ‘HouseofMasaba’.

In addition, to cater to the needs of digitally native consumers, ABFRL is building a portfolio of Digital-first brands under its technology led ‘House of D2C Brands’ venture TMRW. TMRW is on a path to building a portfolio of Digital First brands in partnership with founders of emerging brands in the E-Commerce market.

The Company in Sept 2023 completed the acquisition of 51% stake in TCNS Clothing Co. Ltd. TCNS is India’s leading women’s branded ethnic apparel company that designs, markets and retails portfolio of women’s branded apparel across brands W, Aurelia, Wishful, Elleven & Folksong.

Unwrap The Joy Of Riding With Festive Offers By BMW Motorrad India

* Exclusive festive offer on BMW G 310 R and BMW G 310 GS.

* Zero Down-Payment, Zero Maintenance for 3 years, 5 Years of Complimentary Warranty.

* EMI’s Starting from INR 6,999 onwards.

* #MakeLifeARide #BMWMotorradIndia #SpiritOfGS #NeverStopChallenging

BMW Motorrad India is revving up the excitement of this festive season with irresistible offers on the popular G 310 motorcycles. BMW Motorrad promises an unparalleled ownership experience with its festive offers, complete with attractive finance options, comprehensive service packages, and extended warranty. The offer is valid from 15 October to 15 November 2024, exclusively at authorized BMW Motorrad dealerships.

The festive offer for the BMW G 310 R and BMW G 310 GS includes zero down payment, zero maintenance costs for 3 years, 2 years of extended warranty in addition to the 3 years standard warranty and on-road financing.

Comprehensive EMI plans start from just INR 6,999 for the BMW G 310 R and INR 7,999 for the BMW G 310 GS onwards. The EMI cost incorporates ‘BMW Motorrad Service Inclusive’ that covers comprehensive maintenance of the motorcycle for 3 years and provides complete peace of mind. It includes periodic maintenance for 3 years with applicable labor charges.

BMW India Financial Services offers customized and flexible financial solutions for BMW Motorrad. Customers can get their loans approved before delivery takes place. Road-Side Assistance, a 24x7 365 days package is also available for customers which ensures prompt services in case of breakdown and towing situations.

A comprehensive range of original BMW Motorcycle accessories & gears are available for further individualization of BMW G 310 R and BMW G 310 GS.

FlixBus India Partners With S.M. Kannappa Automobiles To Accelerate The Future Of Inter-City Bus Travel In India

·         Partnership focuses on developing advanced, tailor-made bus bodies to enhance passenger experience, safety, and operational efficiency

·         The duration of this MoU stands for a period of one year

FlixBus India, a global travel-tech leader of affordable and sustainable travel and S.M. Kannappa (SMK) Automobiles Private Limited, a pioneer in bus body manufacturing recently signed a Memorandum of Understanding (MoU) at an event held at The Ritz Carlton, Bengaluru. This strategic partnership is aimed at enhancing the mobility experience by combining SMK’s cutting-edge bus body manufacturing capabilities with FlixBus’s technology-driven platform for passenger transport. Over the next year, the collaboration will focus on developing a fully customized FlixBus product tailored to meet the needs of FlixBus India’s operating partners across India.

Commenting on this MoU, Surya Khurana, MD, FlixBus India said, "This thought through partnership with S.M.Kannappa Automobiles underscores our commitment to offer passengers best travel experience while empowering our operating partners with state-of-the-art vehicles. Together, we will not only drive technological advancement, but also be able to efficiently contribute to the transformation of long-distance travel in India."

Vaibhav Narang, Director, S.M.Kannappa Automobiles Private Limited, said, “This gives SMK a great Opportunity to show case the advancements made by Indian body builders. We thank FlixBus India for imposing their faith in the capabilities of SMK to provide a truly global product.”

The MoU sets the foundation for an exclusive partnership to deliver a new generation of FlixBus vehicles, incorporating top-tier quality standards and innovative designs. S.M. Kannappa Automobiles will bring its expertise in manufacturing high-quality, deluxe, air-conditioned sleeper and semi-sleeper coaches.

Key Aspects of the MoU are:

·         Customized bus bodies: SM Kannappa Automobiles will develop a bespoke range of buses exclusively for FlixBus’s operating partners, featuring unique designs, premium comfort, and the latest safety standards.

·         Priority support & services: FlixBus’s partners will benefit from priority order delivery, competitive pricing, and access to SMK’s dedicated service network across India.

·         Technology & innovation: Both parties will work together to integrate advanced technology and digital platforms, ensuring passengers have access to a seamless booking experience while operating partners benefit from optimized fleet management.

As FlixBus India continues its rapid expansion, this strategic partnership with SMK Automobiles is set to play a pivotal role in achieving its ambitious growth targets. Following the successful launch of operations in South India, connecting key cities like Bangalore, Hyderabad, and Chennai, FlixBus India aims to significantly increase its fleet size and expand its network to more regions across India. With an installed capacity of 6,000 units per annum, SMK’s state-of-the-art facilities in Lalbagh, Peenya, Mandya, and Narasapur, Karnataka will support the production of exclusive, high-quality buses for FlixBus’s growing network.  This collaboration will not only strengthen company's operational capacity but also support its mission to offer premium, tech-enabled travel experiences, solidifying FlixBus’s position as a leader in smart mobility solutions in India.

PhonePe Launches New Insurance Coverage For Firecracker Accidents

*     At just Rs 9, PhonePe users can receive a comprehensive coverage of up to Rs 25,000 of Sum Insured for 10 days during the festive season

PhonePe today announced the launch of a new insurance plan, offering comprehensive protection against firecracker-related accidents and providing users with affordable insurance coverage during the upcoming festive season of Diwali. The coverage plan, available at just ?9 (inclusive of GST), provides PhonePe users up to Rs 25,000 comprehensive coverage for 10 days during the festival period to safeguard against any firecracker-related accidents. With this launch, users nationwide can celebrate the festival with security and peace of mind, knowing that in the event of an accident, they are financially protected against hospitalization and accidental death expenses.

Due to firecracker-related injuries during the festive season across the country, PhonePe has introduced this product to combat any potential financial burden against such unexpected events. The Firecracker insurance plan offers 10 days of coverage beginning from October 25th, 2024, at an affordable price of just Rs 9. The plan, which can be purchased under a minute on the PhonePe app, also provides comprehensive family coverage by insuring up to 4 family members, including the user, their spouse, and up to 2 children. If a user makes the purchase after October 25th, then the policy cover will start from the purchase date. This short-term coverage is tailored specifically to the festive season, offering affordable and timely protection to users.

Commenting on the launch, Vishal Gupta, CEO at PhonePe Insurance Broking Services, said, “We are excited to introduce PhonePe’s Firecracker Insurance just in time for the festive season. This coverage offers essential protection for families, ensuring they can celebrate with peace of mind, free from concerns about accidents or unexpected financial strain. Our goal is to make insurance both affordable and accessible, allowing everyone to enjoy the festivities safely.”

Here’s how users can avail the insurance cover on the PhonePe app:

Step 1: First, go to the Insurance section on the PhonePe app & select Firecracker Insurance from the homepage.

Step 2: You’ll now be able to view your plan details, which include a sum insured of Rs 25,000 and a fixed premium of Rs 9 along with your plan benefits.

Step 3: Next, you will be able to view the insurer's information and get a detailed breakdown of the plan benefits.

Step 4: Lastly, fill in the policyholder's details, then tap ‘Proceed to Pay’ to complete the process.

*The “Firecracker insurance” is a descriptive name used purely for illustrative and awareness purposes and forms part of the Group Personal Accident policy underwritten by Bajaj Allianz General Insurance Co. Ltd. (UIN: IRDA/NL-HLT/BAGI/P-P/V.I/151/13-14). PhonePe Pvt Ltd., customers may voluntarily enroll under the said Group Policy. For more details on risk factors, terms and conditions, please read the sales brochure of insurers carefully before concluding a sale.   PhonePe does not encourage firecracker bursting and advises taking all necessary safety measures. Please adhere to the bans/restrictions imposed by the Government/regulators for bursting firecrackers.T&C apply"

About PhonePe Group:

PhonePe Group is India’s leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in Aug 2016. In just 8 years, the company has scaled rapidly to become India’s leading consumer payments app with 570+ million registered users and a digital payments acceptance network of 40+ million merchants. PhonePe also processes over 290+ million daily transactions with an annualized Total Payment Value (TPV) of USD 1.6+ Trillion.

On the back of its leadership in digital payments, PhonePe Group has expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode - hyperlocal e-commerce and Indus App Store - India's first localized App Store). PhonePe Group is an India headquartered technology company with a portfolio of businesses aligned with the company's vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

For more details: media@phonepe.com

Union Bank of India aAd Zoho Mark Digital Transformation Success With Leadership Meet

* A Landmark Partnership Driving Customer Experience Excellence And Technological Innovation Through Co-Creation

Union Bank of India, one of India’s largest public sector banks, and Zoho, a leading global technology company headquartered in Chennai, have achieved a significant milestone in Union Bank of India’s digital transformation journey with the successful launch and implementation of CRM Edge - an advanced customer experience platform co-created by both the organisations.

At an event commemorating the collaboration at Zoho’s rural hub office in Tenkasi, Tamil Nadu, Union Bank of India's MD & CEO, A. Manimekhalai, and Zoho’s Co-founder and CEO, Mr. Sridhar Vembu, showcased the shared vision and collaborative efforts that drove this transformational journey.

Since its rollout in 2023, CRM Edge has rapidly become the Bank’s primary customer engagement tool and is widely used across the Bank. It has served as a unified system for the Bank’s sales, marketing, and service teams, improving collaboration, data-driven decision-making, and workflow automation. It also streamlined essential qualification checks for eKYC (electronic Know Your Customer) like PAN and Aadhaar validation, and CIBIL checks, ensuring secure and efficient customer verification. Additionally, customer satisfaction scores are collected and tracked via Zoho Survey, which shows marked improvement in customer happiness.

The partnership between Union Bank of India and Zoho began in 2021 after the merger of Andhra Bank and Corporation Bank with Union Bank of India, which significantly expanded its operations. This growth prompted the Bank to modernise its customer engagement strategy by standardising interactions and reducing reliance on its Core Banking System for customer data access. The aim was to enable personalised communication and enhance cross-selling and upselling opportunities. Zoho addressed Union Bank of India’s needs by co-creating CRM Edge, a flexible, scalable platform that seamlessly integrates with the Bank’s complex IT ecosystem and adapts to its evolving business objectives.

After implementing CRM Edge, Union Bank of India has seen significant gains in customer acquisition, retention, and satisfaction, aligning with its long-term growth strategy. The Bank has also been able to automate around 90-95% of customer query processes. This automation streamlines internal task assignments and follow-ups, ensuring that customer queries are efficiently routed and managed by Bank’s internal staff to provide effective resolution. These improvements have significantly enhanced operational efficiency and response times with higher customer satisfaction.

"Zoho’s consultative approach and commitment to our vision have been instrumental in unlocking immense value in our customer experience strategy. This partnership has allowed us to transcend traditional systems and leverage modern technology to better serve our customers," said Ms. A. Manimekhalai, Managing Director of Union Bank of India. "We look forward to exploring new opportunities for collaboration and driving further innovations," she further added.

"We are proud to have partnered with Union Bank of India on this transformative journey. Our platform’s flexibility allowed us to co-create a customised solution that seamlessly integrates with Bank’s IT infrastructure, empowering Union Bank to drive its digital transformation with full control over it technology stack while reducing reliance on external vendors. Together, we are enhancing customer experiences through technology innovation," said Sridhar Vembu, Co-founder and CEO of Zoho Corporation.

The Bank, in its commitment to community development in rural India and Corporate Social Responsibility, contributed to Government High Schools at Melur, Sengottai and SMSS Government Boys Higher Secondary School towards their key infrastructure and sustainability initiatives, such as sanitation improvements and installation of solar power units.

About Union Bank of India

Union Bank of India, with 8500+ Branches, has been in the forefront in offering customised products with very competitive pricing. The Bank has also taken up a lot of digital initiatives to empower its customers with the ease of doing business with the Bank. The Bank has received several awards and recognition for its prowess in Technology, Digital Banking, Financial Inclusion, MSME and development of Human Resources.

Zoho Privacy Pledge

Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. The company owns and operates its data centres, ensuring complete oversight of customer data, privacy, and security. More than 100 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself. For more information, visit: https://www.zoho.com/privacy-commitment.html

About Zoho

With 55+ apps in nearly every major business category, Zoho Corporation is one of the world's most prolific technology companies. Headquartered in Chennai, India, Zoho is privately held and profitable with more than 15,000 employees. For more information, visit: www.zoho.com

KMC Manipal Welcomes New MBBS Students At MedOrient 2024 Inaugural Ceremony

Kasturba Medical College (KMC), Manipal, part of the prestigious Manipal Academy of Higher Education (MAHE), hosted a grand inaugural event on October 14, 2024, to welcome the new MBBS Batch of 2024-25. Held at the Dr. TMA Pai Auditorium, the event marked the beginning of an important academic journey for the students who attended the ceremony with their families, faculty members, and dignitaries in celebration of this milestone.

Chief Guests of the ceremony were Dr. Sharath K. Rao, Pro Vice Chancellor (Health Sciences) of MAHE, with Dr. Raviraja N.S., Chief Operating Officer of MAHE Manipal, attending as the Guest of Honour, and Dr. Avinash Shetty, Medical Superintendent of Kasturba Hospital Manipal, serving as the Chief Guest.

Dr. Padmaraj Hegde, Dean of Kasturba Medical College, Manipal, delivered the welcome address and provided an overview of what the students could expect in the coming years. He warmly welcomed the new batch of students, emphasizing KMC’s commitment to shaping not only competent doctors but also compassionate human beings. He highlighted the importance of balancing academic excellence with empathy, urging students to take advantage of every opportunity provided by the institution and to remain committed to the core values of the medical profession—compassion, empathy, and service.

The event began with the lighting of the ceremonial lamp, followed by a tribute to Dr. TMA Pai, the visionary founder of MAHE. The highlight of the event was the White Coat Ceremony, Conducted by Dr Anil K. Bhat, Associate Dean, KMC, Manipal a symbolic rite of passage into the medical profession. The new students donned their white coats and took the Charaka Shapath, pledging to adhere to the ethical principles of medicine throughout their careers.

In his keynote address, Dr. Sharath K. Rao emphasized the responsibility that comes with entering the medical profession. “Today marks the start of a journey where knowledge meets compassion. As future doctors, you will be the source of hope and healing for your patients. Remember that while your academic excellence is crucial, your empathy and integrity will define your career,” he said, encouraging the students to remain committed to both learning and service.

Dr. Raviraja N.S., in his address as the Guest of Honour, highlighted KMC’s legacy of academic excellence and urged the students to embrace the challenges ahead. “Medical education requires perseverance, dedication, and a continuous thirst for knowledge. At Kasturba Medical College, we will provide you with every opportunity to grow and succeed, but it is your passion and hard work that will truly determine your future,” he remarked, motivating the students to strive for success both academically and personally.

The event also featured a special address by Dr. Avinash Shetty, who officially welcomed the batch by releasing the Student Handbook and handing over the white coats. “The white coat you wear today is a symbol of trust, responsibility, and service. Embrace it with integrity, and always strive to serve the community with the highest ethical standards,” he said.

Students and their parents also had the opportunity to participate in exhibitions organized by faculty members and students of KMC, which showcased the rich history, academic achievements, and research contributions of the institution. These exhibitions provided a glimpse into the wide range of opportunities available to students at KMC, from cutting-edge research to cultural and co-curricular activities, fostering a deeper connection between the students, their families, and the institution.

Throughout the day, students attended several informative and engaging sessions designed to help them transition into medical school life. These sessions focused on peer mentoring, the importance of research, and the value of co-curricular and cultural activities, ensuring that students are well-prepared to thrive both academically and socially. A panel discussion titled "What I Wish I Knew When I Entered Medical School" provided valuable insights from senior students and faculty, offering practical advice to help the new students navigate the challenges ahead.

The event concluded with a vote of thanks by Dr. Kanthilatha Pai. To symbolize the beginning of their new journey at KMC, students participated in a sapling planting ceremony at Endpoint, marking the start of their academic careers and their connection to the institution. The successful inauguration ceremony left students and their families excited and motivated for the journey ahead, as Kasturba Medical College reaffirmed its commitment to excellence in medical education and its role in shaping the future of healthcare.

Globally, Tax And Regulation For Skill-Based Games, Fantasy Sports, & Games of Chance Vary Widely: USISPF-TMT Report

* The report stated that the treatment of the entire online gaming industry as a homogeneous industry and the conflation of online skill gaming with games of chance (or gambling) have stunted the growth of India’s online skill gaming industry.

India's online gaming sector, currently valued at USD 3.1 billion, has the potential to expand to a staggering USD 60 billion by 2034. However, challenges surrounding regulation and taxation persist. India stands out for its high tax rate, imposing a 28% Goods and Services Tax (GST) for all formats on the total deposits made by players. This practice stands in contrast with global practices that tax, regulate, define and distinguish Games of Skills from Games of Chance. Several countries further carve out Fantasy Sports as a distinct category within games of skill and regulate and tax them separately, according to the report “Path Ahead for Online Skill Gaming in India: Unpacking Global Standards for Regulating and Taxing Online Skill Gaming” by the United States India Strategic Partnership Forum (USISPF) and TMT Law Practice. The report highlights the regulatory frameworks and taxation policies in 12 key gaming markets, including the U.S., Germany, the U.K., Denmark, and Belgium. The report also highlighted that the United Nations Central Product Classification (UN CPC), which forms the basis for taxation in domestic jurisdictions globally, defines online gaming separately from online gambling.

The UNCPC is a globally recognized system that ensures consistent classification of products, including online games and online gambling. Under UNCPC, online games (Entry 84391) and online gambling (Entry 96921 read with Entry 96929) are treated as mutually exclusive categories with no overlap. Online games include role-playing games (RPGs), strategy games, action games, and card games played on the internet even when played with entry fee or real money, excluding any form of gambling. Online gambling covers services like lotteries, lottos, off-track betting, and casino services. The report also notes that the North American Industry Classification System (NAICS) categorizes gambling separately from fantasy sports and skill-based games. For instance, Skillz US INC, which offers skill-based games, has a separate NAICS code compared to DraftKings, which offers fantasy sports games.

Key Global Insights:

The report reveals that all 12 countries have a separate legal definition for games of chance, ensuring a clear distinction from skill gaming formats. 8 of the 12 countries’ laws or the regulator, also define fantasy sports for distinct regulation and/ or taxation. Notably, skill-based games receive unique treatment in all the 12 countries, treating them as a separate, standalone category. The tax rates for skill-based games are generally lower than those for games of chance. Across all nations, skill-based games are taxed on platform fees or Gross Gaming Revenue (GGR), ranging from 2% to 25%. Within skill based games, fantasy sports are taxed higher than other games of skill owing to the difference in business models and format. This is similar to India’s previous GST regime, which taxed online skill gaming at 18% of platform fee, akin to other digital services. France has transitioned from taxing on total pooled amount to taxing on platform fee to align with international best practices and prevent users from migrating to illegal offshore platforms.

Additionally, skill-based games do not require permits, licenses or whitelisting and are largely unlicensed. Games of chance, on the other hand, are either illegal or licensed and regulated. Fantasy sports may also require permits or licenses from relevant authorities in 9 of the 12 jurisdictions studied, with exceptions being Romania,  Brazil, and Germany. The findings highlight the regulatory approaches and tax structures in the global gaming industry, with significant differences depending on whether a game is classified as a game of chance, fantasy sports, or skill-based.

The report emphasizes that adopting platform revenue or the commission collected as the tax base is crucial not only for ensuring fair taxation but also for preventing the proliferation of unregulated, untaxed illegal offshore markets that could undermine both industry viability and government revenue. The report also advocates for a more nuanced approach to taxation in India. Aligning with global best practices could help mitigate the risks of over-taxation and support the sustainable growth of the online gaming sector. Such an approach should take into account that the online gaming sector is not homogenous and globally, it is subcategorized, taxed, and regulated on the basis of formats and not monetization models. This nuanced understanding of the sector will unlock the growth of the industry and provide highest GST revenue in the long run. The report concluded that there is an urgent need to distinguish between games of skill and games of chance and to tax the skill-based online gaming sector based on platform fees in line with the global benchmarks.

“The US has been a significant contributor to India's gaming sector, with $1.7 billion out of the total $2.5 billion in foreign direct investment (FDI) coming from the US alone. This reflects the immense confidence global investors have in India’s rapidly growing gaming market, which is projected to become a $60 billion opportunity by 2034. Notably, 90% of this FDI is in the pay-to-play segment, which also accounts for 85% of the sector's overall valuation. With a large consumer base of over 600 million gamers, this space is rapidly being monetized and presents a substantial export opportunity. However, for Indian companies to compete on a global stage, we need a level playing field with progressive tax and regulatory policies that align with international standards. Our benchmarking of global gaming markets reveals how other countries have segmented, defined, taxed, and regulated the gaming industry based on formats. It is clear that, globally, there is a distinct separation between games of skill and games of chance, with skill-based games often receiving conducive treatment. Moreover, even within skill-based games, further differentiation is made to ensure appropriate regulatory frameworks that cater to separate business models. Sharing these insights will help ensure India’s gaming industry reaches its full potential while maintaining investor confidence,” said Dr. Mukesh Aghi, President and CEO, USISPF.

"India's current approach to taxing and regulating online gaming under a one-size-fits-all framework poses significant challenges for the industry’s growth. By conflating skill-based games with games of chance, we are stifling innovation and international competitiveness. A more nuanced regulatory and taxation regime, similar to those adopted in global markets, would not only provide clarity but also foster sustainable growth in the online gaming sector. It’s imperative that India aligns its policies with international best practices to fully unlock the sector’s potential and attract more global investment," said Abhishek Malhotra, partner, TMT Law Practice.

About the US-India Strategic Partnership Forum (USISPF): The US-India Strategic Partnership Forum (USISPF) is committed to creating the most powerful partnership between the United States and India. As the only independent not-for-profit institution dedicated to strengthening the US-India partnership in Washington, D.C., and in New Delhi, USISPF is the trusted partner for businesses, non-profit organizations, the diaspora, and the governments of India and the United States.

About TMT Law Practice: TMT Law Practice is a leading law firm specializing in the dynamic and rapidly evolving Technology, Media, and Telecommunications (TMT) sectors. Renowned for its deep expertise, the firm provides comprehensive legal solutions tailored to emerging industries such as Online Gaming, Cybersecurity, IoT, and AI.