Indian sports industry to reach USD 130 bn by 2030 Google-Deloitte report

New Delhi, Nov 14 (PTI) The Indian sports industry is on track to reach USD 130 billion by 2030 at a 14 per cent compound annual growth rate (CAGR), nearly double that of the country's GDP, a report has revealed.
     This marks a high jump of 150 per cent from USD 52 billion in 2023, according to the "Think Sports: Unlocking India's $130B Sports Potential" report by Google and Deloitte.
     Increased government investments, a surge in quality sports content, and widespread digital adoption among the nation's 655 million sports fan base are the main drivers behind the growth, the report noted.
     It further said that the benefits of sports will also rise, doubling its tax and employment contribution to the nation by 2030.
     The report, which draws insights from a comprehensive research conducted by Google and Deloitte, with consumer insights from Kantar, projected the creation of up to 10.5 million jobs and USD 21 billion in indirect tax revenue by 2030.
     "The socio-economic impact of sports will continue to rise -- more than doubling its employment and tax contributions by 2030.
     "Sports contributes USD 9 billion in indirect taxes which is expected to reach USD 21 billion by 2030. The sports sector currently employees 4.7 million people which is likely to hit by 10.5 million by the end of the decade."
     Former Indian National Cricket Team captain Anil Kumble emphasised that India's journey towards becoming a sporting powerhouse requires a grassroots approach.
     He advocated for investments in quality infrastructure, nationwide programmes for early talent identification and development, training grassroots coaches, and ensuring access to qualified experts in physical and mental aspects of sports.
     "These initiatives could potentially triple the number of medals won at international competitions by 2034 to 2036," he was quoted as saying in the report.
     Further, the report found out that 90 per cent of Indian sports fans now follow multiple sports, with traditional favourites like cricket coexisting alongside rising interests in kabaddi and football, which boast of fan bases of 120 million and 85 million, respectively.
     The rise of digital platforms has transformed how fans consume sports, it said, especially among Gen Z, who represent 43 per cent of the fan base and predominantly engage with sports content online.
     Moreover, sports is not just a man's game. The report observed that 36 per cent of the sports fanbase is constituted by women.
     Deloitte South Asia CEO Romal Shetty said India's potential to become a global leader in sports presents both an opportunity and a responsibility for nation-building.

(This story has not been edited by THE WEEK and is auto-generated from PTI)