The government should find ways to use sports to help the economy grow, according to a new report. This report, called the “Future of Sports in India,” suggests that the government should create policies that encourage more investment in sports facilities, events, and related products.
It also recommends that the government offer incentives to companies to support sports programs as part of their Corporate Social Responsibility (CSR) efforts. This CSR funding could help set up high-performance training centers, equipped with experienced coaches, nutritionists, and both mental and physical trainers.
The report states that the government should create policies to support training programs for coaches, sports managers, and jobs related to sports, especially in smaller towns and rural regions. Although the sports industry in India has made great progress, there are still some challenges, like financial struggles for athletes, unused facilities, and a need for more inclusivity. Solutions could include expanding financial aid, creating better career transition paths for athletes, and promoting an inclusive culture.
Furthermore, the report highlights the importance of bidding for and hosting international sporting events and diversifying sports options across different states to also boost sports tourism. It notes that the Indian sports industry is growing rapidly and is expected to expand from $27 billion in 2020 to $100 billion by 2027. This growth is driven by the popularity of sports leagues, advancements in technology, and increasing interest in various sports. Areas like sports gear, clothing, and media rights are particularly contributing to this rise, with the sports media market projected to jump from $1 billion in 2020 to $13.4 billion by 2027. Finally, exciting performances by Indian athletes at the 2023 Asian Games and the upcoming 2024 Paris Olympics show that India is becoming more competitive in the world of sports.
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