India’s Sports Industry to Reach $130 Billion by 2030
India’s sports sector is on the verge of a significant transformation, with projections to reach USD 130 billion by 2030, according to a report by Google and Deloitte. This growth, at a 14% CAGR, is nearly double the pace of India’s GDP, indicating a shift in how Indians engage with sports. Key drivers include government investments, a multi-sport culture, digital adoption, and diverse sports content.
The report anticipates the creation of 10.5 million jobs and USD 21 billion in indirect tax revenue by 2030. It highlights opportunities for government agencies, sporting bodies, businesses, investors, content creators, and fans to shape the future of sports in India.
Multi-Sport Fandom and Digital Platforms
Roma Datta Chobey, Interim Country Lead at Google India, noted a surge in multi-sport fandom and digital platform popularity, especially among Gen Z, who form the largest segment of India’s sports fanbase. Romal Shetty, CEO of Deloitte South Asia, emphasized India’s potential to become a global sports leader, driven by technological advancements like AI and cloud platforms.
While cricket remains a national passion, 90% of Indian sports fans now follow multiple sports, with Kabaddi and Football gaining significant followings. The rise of digital platforms has transformed sports consumption, with most fans accessing content digitally. This trend is particularly strong among Gen Z, who make up 43% of the fan base.
Sports Goods and Apparel Market Growth
The sports goods and apparel market is expected to double in value to USD 58 billion by 2030, fueled by a growing fitness culture and increased discretionary spending.
Doubts Revealed
CAGR -: CAGR stands for Compound Annual Growth Rate. It is a way to measure how much something grows over a period of time, like how fast a plant grows each year.
GDP -: GDP stands for Gross Domestic Product. It is the total value of all goods and services produced in a country, like all the toys, food, and clothes made in India.
Google and Deloitte -: Google is a big company known for its search engine and other internet services. Deloitte is a company that provides advice and services to businesses, like helping them with money and planning.
Government investments -: Government investments are when the government spends money on things to help the country grow, like building sports stadiums or training centers.
Digital adoption -: Digital adoption means using technology and the internet more in everyday life, like watching sports online or using apps to learn about sports.
Multi-sport culture -: A multi-sport culture means people are interested in many different sports, not just one. In India, this means people are starting to enjoy sports like Kabaddi and Football, not just Cricket.
Indirect tax revenue -: Indirect tax revenue is money the government earns from taxes on goods and services, like when you buy a cricket bat or a football.
Kabaddi -: Kabaddi is a team sport that is very popular in India. It involves players trying to tag opponents while holding their breath and then returning to their side of the field.
