SUMMARY
Anuraag Saxena serves as a nominated member of the National Tourism Advisory Council and a board member at the Centre for Insolvency and Financial Laws
He will lead the management and policy advocacy initiatives and work closely with the member stakeholders of the EGF to regulate the online skill gaming industry
The appointment comes at a time when the online real money gaming industry is reeling following the GST Council’s decision to levy 28% GST on full face value for such platforms
The E-Gaming Federation (EGF), a self-regulatory body for the online gaming industry, has appointed Anuraag Saxena as its chief executive officer (CEO), effective from November 1, 2023.
In a statement, the EGF said that Saxena will lead the management and policy advocacy initiatives and work closely with its member stakeholders to regulate the online skill gaming industry.
Saxena is a chartered accountant and an MBA graduate, and comes with over 20 years of experience. Earlier, he worked with organisations like GE Capital, Prudential Assurance, Deutsche Bank, and Credit Suisse in senior management and advisory roles.
He also serves as a nominated member of the National Tourism Advisory Council (NTAC) and a board member at the Centre for Insolvency and Financial Laws (CIFL).
Commenting on Saxena’s appointment, EGF secretary Malay Shukla, said, “We are excited about Anuraag joining EGF and leading the Federation into the next chapter of its development. His strategic knowledge and proven track record of delivering transformation programs make him a formidable force for the organisation. With his transformational leadership and credibility as a policy thought leader, the EGF is poised to scale up its contribution to the Indian online skill gaming industry,”
As per the statement, Saxena also cofounded the India Pride Project, the world’s largest crowdsourced heritage-recovery platform, in 2013.
“The Indian online skill gaming industry is both dynamic and challenging,… It is a great time to build the online gaming ecosystem while encouraging responsible gaming. I look forward to working with varied stakeholders and continuing to build on the strong momentum of the EGF”, Saxena said.
The EGF is an independent not-for-profit organisation that sets up voluntary regulatory standards for streamlining the online gaming industry in India. It counts the likes of Games 24×7, Junglee Games, and Octro among its members.
The appointment comes at a time when the online real money gaming industry is reeling following the GST Council’s decision to levy 28% GST on full face value for such platforms. A number of gaming companies are now in the market for sale or looking for acquihire opportunities, Inc42 reported earlier.
Besides, a number of gaming startups, including MPL, Hike, and Spartan Poker, have laid off employees to cut costs citing the sharp increase in taxation. Besides, gaming companies such as One World Nation (OWN), Quizy, and Fantok have either shut operations entirely or temporarily halted them in response to the changing landscape.
Meanwhile, the tax authorities have been on an overdrive, sending show cause notices worth INR 1 Lakh Cr to gaming companies for tax evasion.
Amid all these, the popularity of online gaming continues to increase in the country on the back of rising internet access and smartphone penetration. The number of esports players in India surged four-fold to 6,00,000 in 2022 from 1,50,000 in 2021, according to a Lumikai report.
