The Federation of Indian Fantasy Sports hailed the Union government's move to appoint the Ministry of Electronics and Information Technology (MeitY) as the nodal point for regulations in the online gaming sector.

In its meeting here on Friday, the FIFS, formed in 2017 to create a thriving ecosystem for users and operators of fantasy sports, said it will help the sector, which contributes extensively to the country's economy.

The meet was attended by Goa transport minister Mauvin Godinho, FIFS chairman Bimal Julka, director general Joy Bhattacharjya, and heads of several online gaming firms.

Addressing the meet, Godinho said Goa was keen on attracting investments from the online gaming sector as the state is the best place for innovation.

The meeting deliberated on regulations for the online gaming industry in the Union Budget, the future of the animation-visual effects-gaming-comics (AVGC) sector, and the appointment of MeitY as the nodal ministry for skill-based online games, an FIFS release said.

Bhattacharjya said the meeting provided an excellent opportunity for the industry to come together and discuss important policy changes.