There are many factors that influence the development of the gaming industry in India. I think mobile gaming will definitely continue to dominate in the coming years, but that does not mean that consoles will disappear. Let's take it one by one. As stated in https://www.republicworld.com/initiatives/the-future-of-gaming-in-india-playstation-xbox-or-mobile, mobile gaming is truly a phenomenon in India. Most gamers now use mobile devices because they are affordable, do not require huge expenses, and allow them to play anytime and anywhere. In India, the availability of the Internet (especially through 4G and 5G) has made mobile gaming more attractive to a large section of the population. Yes, gaming on mobile is simpler, but on the other hand, titles like Call of Duty Mobile, PUBG Mobile or Free Fire show that mobile games can also be deep, with multiplayer modes and huge worlds. Moreover, they can be free or have a microtransaction model, making them accessible to everyone. However, consoles like PlayStation and Xbox will always have their audience. People who value high-quality graphics, complex storylines and epic games like The Last of Us or Spider-Man are unlikely to settle for mobile platforms. Consoles offer a full experience that is impossible to achieve on mobile devices. And although consoles are a more expensive purchase, they offer much more opportunities to immerse yourself in the world of games.
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Indeed, an interesting question and I agree with many of the points you have made. I feel like the future of gaming in India will depend on a few key factors. We all know that mobile gaming is a huge part of the industry, but consoles are not going away because they continue to attract the attention of those who are looking for more than just a pastime.