Reliance Reboots Its Esports Play

Krafton recently concluded its esports tournament, Battlegrounds India Mobile Series (BGIS) 2025, in Kolkata. Held between April 25 and April 27, the tournament boasted a prize pool of INR 3.2 Cr. Meanwhile, Riot Games — the creator of League of Legends (a multiplayer online battle arena video game) and VALORANT (a first-person tactical shooting video game) — is gearing up for its Legends Ascend South Asia tournament, to be held from June 13 to August 3, 2025.

Now, some may ask — Why are global gaming giants forming a beeline for India? Honestly, why not? 

Driven by a young, mobile-first population, India is one of the largest gaming communities globally, with over 450 Mn gamers. Besides, gaming behemoths see a gold mine in India due to factors like improving internet infrastructure and a growing appetite for competitive games.

But this is not it. 

The rapid growth of the esports industry in the country, too, cannot be ignored. India’s gaming market is at an inflexion point, and esports is on its agenda. 

The country is set to make its debut in esports at the Khelo India Youth Games (KIYG), scheduled to be held in Bihar from 4 to 15 May. India is also eager to participate in the Olympic Esports Games to be held in Riyadh, Saudi Arabia, in 2027.

According to a report by IMARC, the Indian esports market size reached $200.7 Mn in 2024. Looking forward, IMARC Group expects the market to reach $919.0 Mn by 2033.

However, there is something even more interesting that is happening in India. Homegrown players are witnessing a 2X revenue growth every year. 

Take Nodwin, for example — having grown its revenues 25X in six years, the country’s largest esports company now contributes 37% to listed gaming firm Nazara’s total revenue. For context: Nodwin’s revenue surged from a modest INR 18 Cr in FY18 to INR 427 Cr in FY24.

No surprise that Reliance wants a slice of this market. RISE Worldwide, a wholly owned subsidiary of Reliance Industries Ltd (RIL) and BLAST Esports Ltd, one of the largest global players in the segment, have announced the formation of a joint venture to tap into India’s red-hot esports market. However, unlike Reliance’s earlier gaming efforts under Jio, RISE is taking the lead to change its luck in this segment once and for all. 

Reliance’s Many Gaming Misfires 

In 2018, when the gaming industry in India had just begun to take off, the former country manager of global gaming giant Riot Games, Anurag Khurana, joined Reliance Jio as the head of esports. However, Khurana eventually exited to launch his own esports startup after Reliance’s early efforts in gaming fizzled out.

An executive who worked at Jio at the time said that one of the main reasons for the misfire was a lack of focus. “Jio was doing too many things and gaming was just an add-on rather than a core focus area. Moreover, after Khurana left, there was no one to steer the ship,” the executive said. 

The company did not have a dedicated head for its gaming segment until Sidharth Kedia, the former CEO of Nodwin Gaming, joined in 2024.

Kedia’s entry was seen as a turning point. Not to mention, Kedia had scaled Nodwin into one of India’s leading esports companies, diversifying it into multiple genres beyond just tournaments. 

When the company was without a dedicated gaming head, JioGames did take a few noteworthy steps. For example, it signed a 10-year strategic partnership with French firm Gamestream to strengthen its cloud gaming ambitions and brought GamesSnacks’ portfolio of titles onto its gaming platform JioGames.

While Reliance made investments and signed global partnerships, many of these initiatives failed to click with users. 

JioGamesCloud, for instance, is still in beta phase and hasn’t seen widespread user adoption, likely due to tech hurdles, lack of exclusive titles, or weak marketing.

As per a former CXO at Jio, the company’s gaming strategy was more a scattershot experiment than a well-planned initiative.  

“While the company entered the space timely with JioGames and hired big names, it didn’t try to build the ecosystem in a way pure-play esports companies do. Esports in India is deeply community-driven, and Jio never built that community,” the CXO said.

For example, if we look at Nodwin, it started with esports tournaments and spread its wings over the years to foray into music festivals and other youth-centric events. In addition to growing its IPs organically, NODWIN has also taken the M&A route to broaden its reach and influence in the industry. Currently, it has 50+ IPs, including BGMI Masters Series, which is considered India’s biggest esports tournament.

“Reliance never really had the patience to build the gaming segment brick by brick. The market wasn’t mature back then, and it’s still evolving. Between 2018 and 2020, it was extremely nascent. This space is nothing like telecom, where you pump in cash and quickly grab market share,” said the founder of a large esports company.

Why Is Reliance Betting On Gaming Again?

Despite its early misfires, Reliance is placing a fresh bet on gaming due to the growing momentum of India’s esports ecosystem and how global and domestic giants are increasingly eyeing the market.

High-profile events such as BGMI Masters Series and VALORANT Conquerors Championship have attracted millions of viewers and offered prize pools between INR 50 Lakh and INR 2 Cr.

Major brands — from mobile OEMs to energy drinks — are now sponsoring leagues and supporting esports teams. Indian teams are increasingly taking part in international competitions to gain experience and exposure on the world stage.

But it’s not just about gaming. New jobs are being created. From streamers and shoutcasters to coaches, analysts, event planners and game developers, the sector now mirrors the size and sophistication of mainstream sports entertainment.

Even state governments are waking up to the potential this sector holds. Karnataka and Meghalaya have integrated esports into their youth welfare programmes. The Indian government, too, has officially recognised esports under the “multi-sports event” category.

Amid this, Reliance, with its deep pockets and ownership of both telecom and OTT infrastructure, wants a slice either as a platform provider or an ecosystem enabler or both. Unlike 2018, the market is no longer in its infancy, and Reliance will do everything in its might to leverage this opportunity.

But, What Does BLAST Bring To The Table?

Reliance Industries’ recent joint venture with European esports giant BLAST only points at one thing — the oil-to-telecom conglomerate means serious business this time. 

In a statement, Reliance said that it would leverage “BLAST’s globally recognised esports properties and production techniques and co-create new tournament IPs tailored to the fast-growing gaming market”.

BLAST is a European-based esports entertainment company and one of the biggest tournament organisers in the world. BLAST works with the world’s top game publishers and brands to elevate their properties into world-class esports experiences. 

BLAST currently works with Epic Games, Valve, Riot Games, Krafton and Ubisoft to produce, market and deliver esports for popular titles Rocket League, Fortnite, Rainbow Six, PUBG, Dota 2 and Counter-Strike 2. All of these titles have a combined active monthly player base of 350 Mn+.

According to a former CXO at JioGames, the attempt this time looks more promising because it’s being led by RISE, Reliance’s dedicated sports subsidiary, rather than being buried among Jio’s many parallel projects. 

Notably, Reliance’s timing is also right as a long-overdue resurgence of PC gaming in India is also on the anvil.

Counter-Strike, VALORANT, and Apex Legends have built strong followings, but the overall ecosystem is fragmented and underfinanced. BLAST’s strength lies in these PC-first titles. If the partnership results in a dedicated Indian spot in marquee global IPs, like BLAST Premier or BLAST Series, it could change the game for Reliance.

What Does This Mean For India’s Esports Ecosystem?

One of the most persistent roadblocks for Indian esports startups has been the lack of capital to scale. While there are numerous small and mid-sized companies — from tournament organisers and streamers to production houses and team franchises — operating in the space, most struggle to grow beyond a point due to limited investor interest and inconsistent monetisation avenues.

Reliance is all set to change this narrative. With its deep financial reserves, technical infrastructure and credibility, Reliance is set to give a much-needed boost to the esports ecosystem in the country. Even without direct acquisitions, its strategy of partnering with global powerhouses like BLAST allows it to bring premium international content and massive tournaments to Indian audiences.

“When a player like Reliance steps in, it brings legitimacy to the entire sector. Suddenly, investors, brands, and even policymakers start paying attention. This halo effect can be game-changing for smaller players,” said a founder of a budding esports production startup. 

So far, traditional brands have been cautious about sponsoring esports tournaments. But Reliance’s involvement could be the trigger that turns hesitation into action. 

Much like what happened in the telecom space and then in the OTT segment, a strong backer like Reliance can change perceptions and unlock growth across the entire value chain of esports in India. But, for that to happen, Reliance will have to roll its dice very carefully this time.

[Edited by Shishir Parasher]