The applied market intelligence group iSuppli predicts, by 2010, the console market in India will grow to $125 million.
That number is a significant upward climb from current numbers - the country was worth just $13.3 million in console-related sales in 2006.
"The console gaming segment is not very sizeable in India," said Ashish Thakre, associate analyst at iSuppli. "However, future growth expectations and consumerism are prompting companies to establish themselves in India."
Sony launched the PlayStation 3 in India two months ago and predicts sales of 10,000 units at a $980 pricetag. ISuppli claims 1,200 have been sold so far.
By comparison, the Xbox 360 has been available there since September of 2006 and sells for $600. This year the company released a cricket title with the endorsement of an Indian batsman.