Viaan Industries Limited, a listed entity at BSE, has entered game development and publishing through its new development-focused brand Viaan Studios. Leveraging its extensive infrastructure in Mumbai, Viaan Studios is set to develop and publish AAA games for the Asian and European markets.
In a study by market research firm RNCOS, the game market in India is poised to reach INR 18.5 billion ($280 million) by 2017 and grow at a compound annual growth rate of nearly 24% during the 2013-2017 period.
“We plan to target the 150 million mobile gamers in India with high-end, free-to-play games — and we’ll also offer premium titles to the wider international game market,” says Mr. Raj Kundra, Chairman, Viaan Industries Ltd. “Developing games in India can play an important role in the growth of a nascent Indian development community — in alignment with Prime Minister Narendra Modi’s ‘Make in India’ initiative. We plan to tap into the global game market by releasing new mobile games every quarter, entering partnerships in India, and developing AAA console games for the core market in the next two years.”
According to global market research and predictive analytics firm Newzoo, the worldwide game market (all platforms) is expected to surpass $90 billion by the end of 2016 — with mobile games generating 37% of this number (ahead of desktop revenue for the first time).