A collaborative study by Deloitte and Google projects that the size of India’s sports market would more than double to US $ 130 billion by 2030 from about US $ 52 billion in 2023, driven by an increase in Government funding and the growing trend of multi-sport culture.
Sports markets are predicted to expand at a 14 per cent compound annual growth rate (CAGR) until 2030, which is twice the pace of GDP growth, according to Prashanth Rao, a partner at Deloitte India and one of the report’s authors. According to the report, by 2030, the sports industry is expected to provide 10.5 million jobs and US $ 21 billion in indirect tax revenue for the nation.
The primary factor propelling the expansion of the sports industry will be the sports goods and clothing sector. Due to expanding fitness culture and greater discretionary expenditure, the sports goods and apparel market is expected to double in size to reach US $ 58 billion by 2030. 73 per cent of consumers are eager to purchase merchandise from their favourite teams or players, according to a poll included in the report.
