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- The Karnataka Government has set up a committee to draft legislation for regulating online gambling and betting platforms to curb fraud and support the legal gaming industry.
- The move is backed by expert recommendations highlighting that a ban has been ineffective.
- Legalising betting could aid in monitoring, reduce match-fixing, and curb black money, potentially generating ₹12,000–19,000 crore.
- Challenges include distinguishing games of skill from gambling, maintaining federalism as gambling is a state subject, and balancing tourism interests.
- The current legal framework includes IT Rules 2021 and 2023, alongside various state laws, creating a complex, co-regulatory environment for online real-money games.
- While India is the world’s third-largest startup hub with over 100 unicorns and a growing presence in Tier II and III cities, the deep-tech sector remains underdeveloped.
- Despite a 78% rise in funding in 2024, challenges persist, including limited funding, a risk-averse VC culture, and weak education-research infrastructure.
- Deep-tech startups, such as Skyroot Aerospace and Sarvam AI, require long-term investment and robust policy support. Key issues include policy uncertainty, regulatory hurdles, and brain drain.
- The way forward involves policy reforms, deep-tech-specific investment funds, startup-academia collaboration, and skill development programs, supported by initiatives like the Draft Deep Tech Startup Policy and IndiaAI Mission.