A newly created gaming body, AIGF is pushing the government to allow foreign direct investment in the gambling, betting and lottery sector, local media reports.
All India Gaming Federation (AIGF) has argued that while these industries are being recognized as legitimate industries globally, they remain illegal in most parts of India.
Under the current FDI policy, any form of foreign technological collaboration is prohibited in the gambling and betting sector.
AIGF has sent a letter to the ministry, asking it to allow at least 26 percent foreign equity participation along with rights of Indian companies or government, saying such a move would bring in foreign investment of more than Rs 10,000 crore (US$1.5 billion) to India and provide thousands of jobs.
“In the interest of nation and its citizens, it would be appropriate to consider removing gambling, betting and lottery sector from the prohibited list in the FDI policy,” AIGF CEO Roland Landers wrote.