India’s gaming industry has transformed from an outsourcing hub into a global powerhouse, with the market projected to reach $7.5 billion by 2028. The country now boasts a thriving ecosystem of development studios that create world-class games for both domestic and international audiences. The Indian gaming market is projected to reach $3.75 billion in exports by 2028, with studios offering development costs 50-60% lower than Western counterparts while maintaining exceptional quality. With over a billion smartphone users and rapidly expanding digital infrastructure, India has emerged as one of the world’s most dynamic gaming markets, producing studios that excel in mobile games, esports, and cutting-edge technologies.
1. Nazara Technologies
Nazara Technologies stands as India’s only publicly listed gaming company and represents the pinnacle of the country’s gaming ecosystem. Founded in 1999 by Nitish Mittersain, Nazara has evolved from a mobile gaming portal into a diversified gaming and sports media powerhouse with a market capitalization exceeding $1 billion.
The company’s portfolio spans multiple gaming verticals including interactive gaming, esports, ad-tech, and gamified early learning. Nazara acquired several prominent subsidiaries including WildWorks, Curve Games, Sportskeeda, and made strategic investments in nCore Games in 2026. Their popular titles include World Cricket Championship (WCC) through subsidiary Nextwave Multimedia, and Kiddopia in the educational gaming space.
In February 2026, Nazara invested in nCore Games, the developer behind FAU-G, transitioning from publisher to strategic investor. The company’s recent acquisitions demonstrate aggressive expansion strategy, including the purchase of King of Thieves and CATS: Crash Arena Turbo Stars from Zeptolab for $7.7 million in January 2025, and Curve Games in May 2025. With NODWIN Gaming as a subsidiary, Nazara dominates the esports landscape in India and Southeast Asia.
2. Juego Studios
Juego Studios has established itself as one of India’s premier full-cycle game development studios, recognized by Forbes India as among the best development companies in the country. Based in Bangalore, Juego Studios specializes in handling complex, multi-platform projects across mobile, PC, console, and immersive technologies.
The studio’s comprehensive service offerings include mobile game development for iOS and Android, Unreal Engine development for visually stunning 3D games, PC and console game development, Unity 3D development, and HTML5 game development for cross-platform web games. Juego Studios leverages advanced frameworks including HTML5, Unreal Engine, and Unity3D to create exceptional gaming experiences.
What sets Juego Studios apart is their technical versatility and ability to work with global publishers, entertainment brands, and funded startups. The studio handles everything from early production through live operations, making them a reliable partner for companies seeking end-to-end game development solutions. Their expertise extends to emerging technologies including AR/VR, blockchain gaming, and metaverse experiences.
3. SuperGaming
SuperGaming has emerged as one of India’s most innovative game development studios, headquartered in Pune and founded in 2017. The studio gained international recognition with the launch of Indus Battle Royale, a made-in-India battle royale game that showcases the concept of Indo-Futurism.
Indus Battle Royale launched with over 14 million pre-registrations and debuted at the number one spot on the Top Charts for free-to-play games on both iOS and Android App Stores. The game presents a unique Indo-futuristic aesthetic, reimagining what would have happened if the Indus Valley Civilization had thrived across space and time rather than fading away.
SuperGaming’s flagship title MaskGun has achieved over 70 million downloads globally, establishing the studio as a major player in the mobile shooting game category. SuperGaming has raised $21.8 million in funding over five rounds from investors including AET Fund, Skycatcher, and Bandai Namco Entertainment 021 Fund. The studio also operates SuperPlatform, a proprietary technology platform that powers multiplayer games, with titles like PAC-MAN, MaskGun, and Tower Conquest built on this infrastructure.
4. Moonfrog Labs
Moonfrog Labs specializes in social and casual mobile games that resonate deeply with Indian audiences. Acquired by Swedish gaming company Stillfront in 2021, Moonfrog has maintained its position as a leading developer of card and social games in India.
The studio’s flagship title, Teen Patti Gold, is one of the highest-grossing games in India with millions of monthly active users globally. The game offers popular Indian card games including Teen Patti, Rummy, Poker, and Andar Bahar, all designed for pure entertainment. Teen Patti Gold has over 6 million monthly active players worldwide, making it a household name in Indian mobile gaming.
Moonfrog Labs’ other successful titles include Ludo Club, which has become another social gaming phenomenon in India. The studio employs approximately 100 people and focuses on cross-platform social casual games based on casino and adventure genres. Their expertise lies in understanding local player behavior and incorporating culturally relevant intellectual property to drive engagement and retention.
5. 99Games
99Games represents one of India’s most respected independent gaming studios, based in Udupi, Karnataka. Founded in 2008, this super-indie studio has built a reputation for creating mobile games with exceptional production values and deep player engagement.
The studio has published 22 game titles and achieved over 100 million downloads globally. 99Games gained national prominence with Dhoom:3 The Game, developed in partnership with Yash Raj Films, which became one of India’s most downloaded games. Their other successful titles include Star Chef, a global cooking simulation game that became one of India’s most successfully monetized games, and Sultan: The Game.
What distinguishes 99Games is their philosophy of understanding gamer psychology and creating games where players find shared interests and play together for years. With a highly experienced and stable management team working collaboratively for over 15 years, 99Games is considered a thought leader in the Indian gaming industry. The studio received investment from Ascent Capital, validating their approach to game development and long-term player engagement.
6. nCore Games
nCore Games has positioned itself as a pioneer in developing India-first gaming intellectual property with global ambitions. The studio gained national attention with FAU-G (Fearless and United Guards), a military-themed action game designed specifically for Indian audiences.
In February 2026, nCore Games secured strategic investment from Nazara Technologies, with the FAU-G franchise emerging as the third-biggest shooter esports title in India within just six months of launch. The studio’s approach focuses on building competitive gaming experiences that resonate with India’s vocal gaming community while maintaining execution depth and scalability.
The FAU-G: Bharat League has demonstrated the viability of Indian gaming IP in the esports ecosystem, supported by Leverage as an official sponsor and NODWIN Gaming as the esports partner. The league’s success validated the belief that India can build globally competitive esports IP grounded in strong gameplay, disciplined live operations, and deep cultural resonance. nCore’s vision extends beyond FAU-G to building multiple gaming franchises that embody the “Make in India” initiative for the global gaming market.
7. Nextwave Multimedia
Nextwave Multimedia, a subsidiary of Nazara Technologies since 2018, has carved out a dominant position in cricket gaming. Based in Chennai, the studio is best known for developing the World Cricket Championship (WCC) series, which has become one of the most popular mobile cricket games globally.
The WCC franchise offers authentic cricket gameplay with multiple formats including test matches, ODIs, and T20s, featuring licensed tournaments and teams. The games excel in providing realistic cricket mechanics, detailed player customization, and comprehensive career modes that appeal to cricket enthusiasts worldwide.
Nextwave’s success stems from understanding cricket’s cultural significance in the Indian subcontinent and translating that passion into mobile gaming experiences. The studio continues to update WCC with new features, tournaments, and improvements, maintaining its position as the premier cricket gaming franchise from India.
8. NODWIN Gaming
NODWIN Gaming, a subsidiary of Nazara Technologies, has established itself as India’s largest esports company and one of the top three esports operators globally. Founded in 2015 by Akshat Rathee, NODWIN has transformed India’s esports landscape through tournament operations, content production, and ecosystem development.
The company operates major esports properties including ESL India Premiership, DreamHack India, and various publisher-specific tournaments. NODWIN Gaming improved profitability while serving as the esports partner for major gaming titles and events across India and Southeast Asia. Beyond tournament operations, NODWIN has expanded into gaming media with acquisitions including AFK Gaming and owns Comic Con India, creating a comprehensive youth entertainment ecosystem.
NODWIN’s expertise extends to venue-based entertainment through their management of arcade franchises and gaming cafes. The company has partnerships with global esports organizations and game publishers, positioning itself as the bridge between Indian gaming talent and international competitive gaming opportunities.
9. Toonz Media Group
Toonz Media Group brings a unique perspective to game development, leveraging over two decades of experience as one of Asia’s most active animation production studios. Based in Trivandrum, Kerala, Toonz has produced over 10,000 minutes of animation content annually and worked with entertainment giants including Marvel, Disney, Netflix, and Warner Bros.
Toonz offers comprehensive game development services across PC platforms (Windows, Mac), mobile gaming, and blockchain-based Web3 games. Their game development division focuses on combining their animation expertise with gaming technology to create visually stunning and narratively rich experiences.
The studio’s strength lies in their ability to integrate high-quality animation, character design, and storytelling into game development. They specialize in blockchain gaming and see Web3 as a transformational technology that enables games to transition from mobile-based, free-to-play formats to immersive play-to-earn experiences. Their comprehensive media capabilities allow them to develop games with production values that match international standards.
10. Games24x7
Games24x7 has established itself as a major player in India’s skill-based gaming sector, operating popular platforms including RummyCircle and My11Circle. The company focuses on games of skill, differentiating itself in India’s complex gaming regulatory environment.
Founded with a vision to create engaging skill-based gaming experiences, Games24x7 has built platforms that combine technology, game design, and responsible gaming practices. RummyCircle has become one of India’s largest online rummy platforms, while My11Circle competes in the fantasy sports segment.
Games24x7 is recognized among India’s leading gaming companies alongside Nazara Technologies, Dream Sports, and other major players. The company emphasizes fair play, secure transactions, and user experience, positioning itself as a trusted platform in the skill-based gaming category. Their focus on technology infrastructure and compliance has enabled them to scale operations while maintaining regulatory compliance across different Indian states.
The Indian Gaming Landscape in 2026
The Indian gaming industry’s growth trajectory remains impressive, driven by several key factors. With smartphone users set to surpass 1 billion by 2026 and mobile data plans around INR 200 per month, there were 8.45 billion mobile game installs in 2024. The proliferation of affordable handsets priced under $100 has democratized gaming access, particularly in tier-2 and tier-3 cities.
The rollout of 5G technology is transforming gaming capabilities. 5G subscriptions reached 270 million in 2024 and are projected to reach 980 million by 2030, drastically lowering average latency. This infrastructure improvement enables more sophisticated multiplayer experiences, cloud gaming services, and AR/VR applications.
Indian studios have matured beyond simple mobile casual games to develop complex multiplayer systems, console-quality titles, and original intellectual property. The success of games like Indus Battle Royale, FAU-G, and World Cricket Championship demonstrates that Indian developers can create culturally resonant content that competes globally while appealing to local sensibilities.
The investment climate for Indian gaming has also strengthened significantly. Beyond traditional venture capital, strategic investments from global gaming companies, acquisitions by international publishers, and public market listings have provided Indian studios with capital to scale operations and compete internationally. The presence of companies like Nazara on public stock exchanges has increased transparency and institutional confidence in the sector.
Conclusion
India’s gaming development studios have evolved from service providers to creators of original, culturally authentic gaming experiences that resonate globally. The top studios featured in this list represent diverse specializations: from Nazara’s diversified gaming ecosystem and Juego Studios’ technical versatility to SuperGaming’s innovative Indo-futuristic approach and Moonfrog’s mastery of social gaming.
The Indian gaming industry’s future appears exceptionally promising. With continued infrastructure improvements, growing domestic market, increasing global recognition, and maturing talent pool, Indian studios are positioned to play an increasingly significant role in the global gaming industry. The combination of cost efficiency, technical expertise, cultural creativity, and massive domestic market provides Indian gaming studios with unique advantages as they compete on the world stage.
As we progress through 2026, these studios continue to push boundaries, experiment with new technologies, and create gaming experiences that reflect India’s rich cultural heritage while appealing to global audiences. The Indian gaming development sector has firmly established itself as a critical player in the worldwide gaming ecosystem, with these top 10 studios leading the charge toward an exciting and innovative future.
