India’s gaming industry has emerged as one of the most dynamic digital entertainment sectors in the world, fuelled by affordable smartphones, a dense 5G radio network now reaching over 700 cities, and one-click UPI payments. The India gaming market is expected to increase from USD 5.02 billion in 2026 to reach USD 9.89 billion by 2031, growing at a CAGR of 14.52 percent, with longer-range projections showing growth to USD 17.83 billion by 2035. The newly issued Public Regulation of Online Gaming Act 2025 has reduced licensing friction and encouraged both domestic and foreign investment by replacing a patchwork of state-level rules with a unified national framework. The top five players, Nazara Technologies, Krafton, Sporta Technologies, Sea Limited, and nCore Games, collectively account for an estimated 40 to 45 percent of market revenue in 2025, while mobile commands 79.29 percent of the overall gaming market share. Let us have a look at the top 10 gaming companies in India for the year 2026.
1. Nazara Technologies Limited
Nazara Technologies, founded in the year 1999 by Nitish Mittersain, is India’s first and most prominent publicly listed gaming company, making history with its March 2021 IPO that achieved a market capitalisation of approximately USD 1.06 to 1.13 billion as of 2026. The company evolved from a struggling dotcom-era venture into a diversified gaming and sports media powerhouse with operations across 64 countries, and after slumping into losses in September 2025 due to regulatory headwinds, Nazara returned to profitability in December 2025 with a net profit of Rs 8.8 crore. The company raised Rs 855 crore for bolt-on acquisitions in esports and gamified learning and acquired a 100 percent stake in UK-based mobile game developer Fusebox Games for USD 27.2 million.
Nazara Technologies serves gamers across mobile gaming through flagship titles like World Cricket Championship, esports through its NODWIN Gaming subsidiary, fantasy sports through Halaplay, and gamified early learning via Kiddopia, and is the most diversified and internationally present Indian gaming company with a presence spanning entertainment, education, and competitive sports.
2. Sporta Technologies Private Limited (Dream Sports)
Sporta Technologies, the parent company of Dream11 founded in the year 2008, dominates India’s fantasy sports market with an overwhelming 90 percent market share and over 220 million registered users as of 2024. Dream Sports secured USD 840 million in funding in September 2021 at an USD 8 billion valuation and reported revenue of Rs 6,384 crore in fiscal year 2023. In November 2025, the company leased approximately 169,000 square feet of office space in Mumbai’s Worli in a major long-term deal valued at over Rs 300 crore, and its product portfolio spans Dream11, FanCode, DreamX, DreamSetGo, and DreamPay.
Dream Sports serves India’s massive cricket and sports fan base with its fantasy sports platform that allows virtual team creation based on real player performance across cricket, football, kabaddi, and basketball, and has fundamentally revolutionised how Indian sports fans engage with live sporting events through skill-based predictive gaming.
3. Krafton India (Battlegrounds Mobile India)
Krafton, the South Korean gaming company behind PUBG and operating in India through its BGMI or Battlegrounds Mobile India platform, is one of the top five players collectively accounting for 40 to 45 percent of India’s gaming market revenue in 2025. The Battlegrounds Mobile India Series 2024 featured a total prize pool of Rs 2 crore, and Krafton has opened local headquarters in Bengaluru, embedding with telcos for handset preload deals while energising the battle royale and FPS gaming category that is pacing at a 15.12 percent CAGR through 2031.
Krafton India serves India’s massive battle royale and competitive mobile gaming audience with BGMI, and its successful comeback after a temporary ban has made it one of the most significant esports and competitive gaming platforms in the country, particularly popular among India’s Gen Z mobile gaming community.
4. Games24x7 Private Limited
Games24x7, launched in the year 2006, found massive success in real-money gaming through its flagship titles RummyCircle for online rummy and My11Circle for fantasy sports, building secure payment gateways and real-time gameplay with personalised recommendations. The 2025 regulatory changes significantly disrupted the company’s operations, with Flutter announcing suspension of real-money operations, enabling user withdrawals, suspending new deposits, and shifting offerings to free-to-play formats — illustrating the regulatory uncertainty facing even internationally-backed gaming operators following the Public Regulation of Online Gaming Act 2025.
Games24x7 serves skill-based card and fantasy sports gaming enthusiasts across India with its RummyCircle and My11Circle platforms, and despite recent regulatory disruption to its real-money formats, remains one of the most recognised and trusted gaming brands in India’s online rummy and fantasy sports categories.
5. NODWIN Gaming (Nazara Subsidiary)
NODWIN Gaming, a subsidiary of Nazara Technologies, has established itself as India’s premier esports company focused on building sustainable ecosystems for gamers, content creators, and audiences. The company organises high-profile tournaments including the BGMI Masters Series, one of India’s largest esports events with prize pools exceeding Rs 2 crore, and extends beyond tournament organisation into media and entertainment by creating gaming entertainment shows that combine competitive gaming with television formats.
NODWIN Gaming serves India’s rapidly growing esports community of competitive gamers, content creators, and spectators with its tournament organisation and gaming entertainment programming, and is the most established and credible esports infrastructure company in India, headquartered in Bengaluru’s high-density Unreal Engine developer hub.
6. Mobile Premier League (MPL)
Mobile Premier League, quickly gaining prominence as one of India’s most downloaded gaming apps, fuelled a valuation of approximately USD 2.3 billion in 2021 reflecting strong investor confidence in its skill-based gaming platform. The company offers a diverse range of over 60 games spanning fantasy sports and board games where users can participate to win cash prizes, and despite being a relatively newer entrant in India’s competitive gaming landscape, its sudden growth has placed it among the top game development and gaming platform companies in the country.
MPL serves India’s casual and skill-based gaming audience with its diverse portfolio of over 60 games, and its rapid rise to becoming one of India’s most downloaded gaming apps demonstrates the platform’s strong product-market fit for users seeking variety across multiple game formats within a single application.
7. Gameskraft Technologies Private Limited
Gameskraft, founded in the year 2017, builds fair-play skill-based games including RummyCulture and Gamezy, becoming one of India’s most trusted gaming platforms through its emphasis on transparent gameplay and responsible gaming practices. The company has built a strong reputation in India’s skill-based real-money gaming segment by focusing on regulatory compliance and fair play certification, positioning itself as a trusted alternative in a market segment that has faced significant regulatory scrutiny following the 2025 gaming law reforms.
Gameskraft serves rummy and skill-based card gaming enthusiasts across India with its RummyCulture and Gamezy platforms, and its focus on fair-play certification and trust-building has made it one of India’s most reliable and compliance-focused gaming platforms in the rapidly evolving regulatory landscape.
8. WinZO Games Private Limited
WinZO Games is a social gaming platform built on a micro-transaction model, offering multilingual games specifically designed to engage India’s mass gaming audience beyond the English-speaking urban demographic. The company’s vernacular content strategy and social gaming approach have allowed it to penetrate deeper into India’s tier-2 and tier-3 cities where regional language gaming content resonates more strongly than English-language alternatives, positioning WinZO as one of the most accessible gaming platforms for India’s diverse linguistic population.
WinZO serves India’s vernacular and tier-2/tier-3 city gaming audience with its multilingual social gaming platform built on micro-transactions, and is one of the most culturally adapted gaming companies in India, extending gaming engagement beyond metro areas into India’s vast non-English-speaking gaming population.
9. JetSynthesys Private Limited
JetSynthesys develops gaming, entertainment, and wellness apps, collaborating with global gaming IPs and celebrities to deliver premium digital experiences to Indian consumers. The company has built strategic partnerships that bring internationally recognised gaming franchises and celebrity collaborations to the Indian market, differentiating itself through premium content partnerships rather than purely homegrown game development, and represents one of the more diversified gaming and digital entertainment companies bridging international IP with Indian consumer preferences.
JetSynthesys serves Indian consumers seeking premium gaming and digital entertainment experiences through its global IP and celebrity collaboration strategy, and is one of the most internationally connected Indian gaming companies, bringing recognised global entertainment franchises to domestic gaming and wellness app audiences.
10. nCore Games Private Limited
nCore Games, established in the year 2018, is one of the top five players in India’s gaming market alongside Nazara, Krafton, Sporta Technologies, and Sea Limited, collectively accounting for an estimated 40 to 45 percent of market revenue in 2025. The company is best known for developing FAU-G, an indigenous Indian battle royale title, and in June 2024, Nazara Publishing partnered with nCore Games to become the global publishing partner for FAU-G Domination, expanding indigenous Indian gaming IP into international markets.
nCore Games serves India’s gaming community with indigenously developed titles like FAU-G that represent homegrown Indian gaming IP, and its partnership with Nazara for global publishing reach demonstrates the growing international ambitions and capability of India’s domestic game development ecosystem beyond simply hosting foreign titles.
Frequently Asked Questions (FAQs)
Q: Which is the largest gaming company in India in 2026?
A: Nazara Technologies is India’s largest and most prominent publicly listed gaming company with a market capitalisation of approximately USD 1.06 to 1.13 billion as of 2026. In the fantasy sports segment specifically, Sporta Technologies, the parent of Dream11, dominates with an overwhelming 90 percent market share. The top five players, Nazara, Krafton, Sporta Technologies, Sea Limited, and nCore Games, collectively account for 40 to 45 percent of total market revenue.
Q: What is the size of India’s gaming market in 2026?
A: The India gaming market is expected to increase from USD 5.02 billion in 2026 to reach USD 9.89 billion by 2031, growing at a CAGR of 14.52 percent, with longer-range forecasts showing growth to USD 17.83 billion by 2035 at a CAGR of 15.62 percent during 2026 to 2035. Mobile gaming commands 79.29 percent of the market share, while UPI-based microtransactions have crossed 12 billion monthly transactions, providing a frictionless monetisation rail for publishers.
Q: What is the Public Regulation of Online Gaming Act 2025?
A: The Public Regulation of Online Gaming Act 2025 is a landmark piece of legislation that introduced a unified licensing framework replacing a patchwork of state-level rules that previously governed India’s online gaming industry. The act has reduced licensing friction and encouraged both domestic and foreign investment, though it has also significantly disrupted real-money gaming operations for some companies, with Games24x7 suspending real-money operations and shifting to free-to-play formats following the regulatory changes.
Q: How is esports growing in India in 2026?
A: Esports ecosystem development in India is most advanced in Karnataka, where Bengaluru hosts NODWIN Gaming’s operational base and India’s highest density of Unreal Engine certified developers per capita. Tamil Nadu’s classification of esports as an official sport in 2024 unlocked Rs 200 crore in stadium and training facility grants, positioning Chennai as a future LAN-event destination. Krafton and Garena have opened local headquarters in Bengaluru, embedding with telcos for handset preload deals to support the growing competitive gaming ecosystem.
Q: What regions in India lead gaming revenue and development?
A: West India generated 24.84 percent of 2025 gaming revenue, led by Maharashtra’s corporate esports leagues and Gujarat’s real-money gaming clusters, with Mumbai and Pune attracting venture capital and animation talent. South India is poised for the fastest 14.98 percent CAGR as Karnataka reversed its 2024 ban on skill-based titles and Telangana’s Hyderabad hub houses 60 percent of national game-development staff. Delhi-NCR functions as the commercial nerve centre for fantasy sports platforms.
