The Federation of Indian Chambers of Commerce and Industry is calling on the government of India to establish a commission to oversee a legalized gambling industry.
In a presentation to officials, federation Chairman Sanjiv Paul said India is losing “billions of dollars” in taxable revenue through black-market sports betting.
Betting is illegal in India as is casino gambling, except in the tiny state of Goa and a couple of other small enclaves. Businesses represented by the federation want to change that and argue that a commission with special powers to license and regulate a legal industry would realize “significant taxable income” for the country.
An FICCI report says a body based on the UK Gambling Commission would also help to reduce money-laundering and match-fixing, which has been the bane of professional cricket, the subcontinent’s most popular sport.
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