India’s New Online Gaming Tax Will Stifle Foreign Investment, Put $2.5 Billion Investment at Risk: Gaming Firms
India's new 28 percent tax on online gaming companies will stifle foreign investment and put $2.5 billion (roughly Rs. 20,500 crore) already invested in the sector at risk, more than 100 gaming firms have said in a letter to India's finance ministry.India this week announced the tax on the funds that online gaming companies collect from their customers. Games such as fantasy cricket have became increasingly popular in recent years, but have also raised concerns about addiction among players.Top investors including Tiger…