Growth of Sports Industry in India
Sports is one of the largest industries in the world in terms of generating income and jobs. The multi-billion dollar international sports sector is driven by huge customer demand. Although the worldwide sports industry is estimated to be worth over $600 billion and contributes 0.5% to the world’s GDP (and even surpasses 5% in some nations), it only makes up around 1% of the GDP in India.
Growing sports ecosystem in India
All developing countries, including India, are working hard to expand their businesses, and the sports industry in India has a particularly high potential for expansion. The majority of Indians have the false impression that cricket is the only big sport there, which has hampered the growth of this deserving sector. Tennis, Badminton, and Hockey have coexisted with each other for a very long period now. This trend has slowly emerged in the last three to five years. Involvement, viewership, and related businesses are all flourishing as the Indian sports landscape broadens well beyond the game of cricket to encompass a variety of sports.
What does the Growth of sports other than cricket in India look like?
In addition to cricket, more than 15 domestic leagues are currently contested in India. These leagues are for sports, including boxing, badminton, Kabaddi, wrestling, and football. The sports sector has also experienced a sharp increase in business.
- Indian athletes won 61 medals, 22 golds, 16 silvers, and 23 bronze at the Commonwealth Games 2022.
- At the CWG 2022, Sudhir won the first medal for India—a gold—in the Paralympics. He won the title of heavyweight champion in the para powerlifting division.
- Wrestling got 12 medals, the highest at CWG 2022, with 6 Gold medals, 1 Silver medal, and five bronze medals.
- Weightlifting got ten medals, the second highest at CWG 2022, with 3 Gold medals, 3 Silver medals, and four bronze medals.
- At the Olympic Games in Sydney, Australia, in 1938 and Vancouver, Canada, in 1954, India was shut out of the medal race. When India won two gold medals and a silver in 1958, ending their medal slump, they placed eighth overall with three medals.
What are the Government initiatives that encourage sports in India?
The leading sports organisation in India, the Sports Authority of India, carries out sports programmes to advance India’s sports culture. Here, we take a look at Indian government initiatives that are doing their bit to help athletes and encourage sports:
- The National Sports Talent Contest (NSTC) Scheme is used to identify young athletes aged 8 to 14 from schools and develop them into potential medal contenders by giving them scientific training.
- The Army Boys Sports Company Scheme (ABSC) is a joint project between SAI and the Indian Army. Its primary goal is to use the Army’s excellent infrastructure and orderly atmosphere to train boys in the age range of 8 to 16 years old to succeed in sports.
- The STC/SAG centres’ extension centres A programme was initiated to develop sports standards in schools and colleges with the necessary fundamental infrastructure and to achieve sports success.
- Impenetrable tribal, rural, and coastal areas of the nation are targeted under the Special Area Games (SAG) Scheme, which seeks to identify and develop the natural potential for contemporary competitive sports and games. The programme also plans to identify and develop talent from local communities, regions, martial arts and games.
How much does India spend on sports?
The current budget for the Sports Authority of India is 653 crore. The Union Sports budgetary allocation increased to Rs 3062.60 crore to contribute to India’s planning and preparation for the Commonwealth Games and Asian Games this year.
In 2022 alone, the Indian government invested roughly 17 billion rupees in sports.
What does the future of sports in India look like?
Without a question, India’s sports sector has a bright future. Technology improvements have helped sports become more and more popular. The influence of women in sports is also beginning to grow, and Indian athletes have gained significant notoriety on the international stage. The administration is also concerned about restructuring sports federations. In order to inspire children, including those from remote areas, the administrations of these Federations are increasingly obtaining outside support.
Hence, the future of sports in India is quite promising, as seen by all the aforementioned facts.