Leaping Forward: Harnessing Sports for Economic Growth in India

A report suggests India can leverage the sports industry for economic growth by investing in infrastructure and events, incentivizing private sector contributions, and promoting diverse sports. Challenges like financial insecurities and underutilized infrastructure need addressing. Projected growth in the sector offers a promising outlook.

The Indian government is called to harness the burgeoning sports industry as a vehicle for economic growth, according to a new report. The Nangia Nxt- FICCI Knowledge Report, titled 'Future of Sports in India,' highlights the need for developing policies that boost investment in sports infrastructure and events.

With the sports sector projected to soar from USD 27 billion in 2020 to USD 100 billion by 2027, the report advocates for incentivizing private sector contributions as part of Corporate Social Responsibility (CSR) initiatives. Such measures could provide significant financial support for training centers that cater to athletes' holistic development.

Despite considerable advancements, the industry still grapples with financial insecurity for athletes and underutilized infrastructure. By fostering inclusivity, expanding financial aid, and promoting diverse sports across states, India can solidify its status as a burgeoning sports power.

(With inputs from agencies.)