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gaming startups: 1330 recognized startups from the gaming and related sectors as of November 30: Som Parkash

The number of recognized startups in the gaming and related sectors has grown from five in 2016 to more than 1,330 as of November 30, 2022, Parliament announced on Wednesday. On April 8 this year, a task force was established to promote the animation, visual effects, games and comics (AVGC) industry, State Minister of Trade and Industry Som Parkash said in a written response to Lok Sabha.

The working group’s mandate includes facilitating skill development initiatives, promotion and market development activities to expand the global reach of the Indian AVGC industry, increase employment opportunities and incentives to attract foreign direct investment in the AVGC sector.

“Continuous government efforts in this direction have resulted in an increase in the number of recognized startups from 452 in 2016 to 84,012 in 2022 (as of November 30, 2022). This includes startups in the gaming and related sectors, which have grown from around 5 in 2016 to over 1,330 startups in 2022 (as of November 30, 2022),” he said.

Replying to a separate question, the minister said that comprehensive reforms have been carried out by public sector banks (PSBs) as part of a program of reforms to improve access and quality of service to make it easier to do business. He also said that the aim of the bank merger was to promote the consolidation of PSB to create strong and competitive banks capable of achieving economies of scale and realizing the benefits of synergies with a wider range of products and services for clients.

According to him, as a result of these efforts, customers of the combined banks have gained access to more branches and ATMs, where they can now use banking services.

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Clients have also gained access to a greater range of products and services through harmonization across banks that have been merged together and expanded their lending options to larger loans, Parkash said.

In addition, the increase in scale and customer base in the merged banks has also allowed the banks to open/reorganize control offices and processing centers, equipping them with better customer service equipment, he added.

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