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Govt in works to finalize Sports Policy 2024 and National Sports Governance Bill: Joint Secretary, Ministry of Youth Affairs & Sports, GoI
Nov 30, 2024
Indian sports industry likely to reach $100 bn by 2027 from $27 billion in 2020: FICCI-Nangia Nxt Report
- Sports media market expected to grow from $1 billion in 2020 to $13.4 billion by 2027
- Sports goods market likely to reach $6.6 bn by 2027 from $4.5 billion in 2020
- Sports apparel sector projected to grow from $14 billion in 2020 to $21 billion by 2023, driven primarily by men’s sportswear products.
NEW DELHI, 30th November 2024: Mr Kunal, Joint Secretary, Ministry of Youth Affairs & Sports, Govt of India today while addressing the 14th Global Sports Summit – ‘FICCI TURF 2024’, said that sports play an important role in shaping the economy. “The government needs to ensure that the governance of sports is proper, just and equitable so that those who want to play should get the opportunity along with developing the entire eco-system,” he added.
Mr Kunal further stated that India has announced to host the Olympics in 2036 and there is a need for all stakeholders to work together to not only achieve the target of 2036 but also of vision of India at 2047. He added the two documents – Sports Policy 2024 and draft National Sports Governance Bill, are currently in the public domain for further consultation. “Very soon we are going to give the final shape to both these two documents. These documents are required as sports is not about sports, but it is the driver of the economy,” he emphasized.
Mr Kunal also added that the tailwinds flowing in our favour include our economy, democracy and institutions, vibrant corporate sector with stable government. “Many silent revolutions are also taking place in the rural areas at the grassroots level as the government is setting-up Khelo-India centers in every rural area,” he added.
Mr PKSV Sagar, Chairman, FICCI Sports Committee and President, GMR Sports said, “The future of Indian sport depends on seamless collaboration between governments, private enterprise, sports organizations and individuals.”
Mr Atulya Misra, Additional Chief Secretary, Department of Youth Welfare and Sports Development, Govt of Tamil Nadu while speaking on the role of sports for the state government said that sports is owned by the federations, the players and we are not the regulator but an enabler. “Our state will promote sports, and it will not be our minor subject but mainstream subject,” he added.
Mr Misra stated that the state government is coming up with new cricket stadiums in Coimbatore and Chennai. “Today, 3 per cent of all government jobs in Tamil Nadu are reserved for ex-sport persons and 100 jobs will be given next week by the Chief Minister. We are the state, today, which is spending the most amount in sports and have created Tamil Nadu Champion Fund in which huge amount of CSR is coming,” he added.
Mr Ajay Jadeja, Former Captain, Indian Cricket Team stated that if we could work to include sports into the lives of young kids then the vision of 2036 will surely be achieved. The development of sports, he added, is now visible even at the grassroot level and we must promote Kho-Kho game as well.
Mr Rahul Bose, Director, Actor and President, Rugby India said that this is an important moment for India in sports and while we focus on winning, we must do it the right way. “Ethics, transparency, accountability and trust are the only ways to win. Today I see faces all over that you would never dream would be part of Indian sports - some of the best, brightest and most ethical minds that I can find. Let us not squander this opportunity,” he added.
Ms Manika Batra, Olympian and Indian Table Tennis Player said, “I have seen changes occurring in the sports sector and I am thankful for the support we are now getting from the government and particularly the Sports Ministry. Further, the support from the corporate sector will be beneficial for the sector and players.”
Mr Harvinder Singh, Paralympic Medalist said, “Parents are now encouraging their children to go into sports. This change will help us increase the medal tally in upcoming Olympics and Paralympics.”
Ms Neha Mathur Rastogi, Founder, WordsWork Communications Consulting said, “Sports is one sector that truly requires the successful coming together of the private and public entities for one common goal, one common vision and that is to build our nation by the language of sports, with the culture for sports.”
Mr Suraj Nangia, Managing Partner, Nangia Nxt said, "Sports in India epitomises the power of sport for inspiring and driving socio-economic change. Our report shows the way ahead-celebrating success, tackling issues, and opening opportunities in technology, inclusion, and sustainability. It's time to come together and shape a world-class sports ecosystem that empowers sportspersons and helps position India as a global leader in sports."
FICCI-Nangia Nxt Knowledge Report – ‘Future of Sports in India’ was released during the session.
Highlights of the report: (attached also)
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The Indian sports industry is experiencing a period of dynamic growth, with projections to expand from $27 billion in 2020 to $100 billion by 2027.
This transformation is driven by various factors, including the commercialization of sports leagues, technological advancements, and a growing emphasis on diverse sporting disciplines.
Sectors such as sports goods, apparel, and media rights are contributing significantly to this growth, with the sports media market alone expected to grow from $1 billion in 2020 to $13.4 billion by 2027.
Additionally, landmark achievements by Indian athletes at the 2023 Asian Games and the 2024 Paris Olympics highlight the nation’s increasing competitiveness on the global stage.
The sports goods market alone, valued at $4.5 billion in 2020, is expected to reach $6.6 billion by 2027, while the sports apparel sector is projected to grow from $14 billion in 2020 to $21 billion by 2023, driven primarily by men’s sportswear products.
The growth in sports-related businesses extends to sponsorships, media rights, and merchandising, further strengthening the sector's overall ecosystem |