India’s sports market to hit $130 billion by 2030, generating 10.5 million jobs: Report

India’s sports market set to soar India’s sports market is set to reach $130 billion by 2030, growing at a compound annual growth rate (CAGR) of 14%, according to a new report from Google and Deloitte. The growth is expected to create up to 10.5 million jobs and generate $21 billion in indirect tax revenue […] The post India’s sports market to hit $130 billion by 2030, generating 10.5 million jobs: Report appeared first on PGurus.

Nov 15, 2024 - 08:31
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India’s sports market to hit $130 billion by 2030, generating 10.5 million jobs: Report
The growth is expected to create up to 10.5 million jobs and generate $21 billion in indirect tax revenue

India’s sports market set to soar

India’s sports market is set to reach $130 billion by 2030, growing at a compound annual growth rate (CAGR) of 14%, according to a new report from Google and Deloitte. The growth is expected to create up to 10.5 million jobs and generate $21 billion in indirect tax revenue by the end of the decade.

The report highlights that this rapid expansion—nearly double the pace of India’s GDP growth—reflects a major transformation in how Indians consume and engage with sports. Key drivers of this growth include increased government investments, a rise in multi-sport culture, widespread digital adoption, and a surge in high-quality sports content.

Key growth areas: Sports goods, apparel, and digital platforms

The sports goods and apparel market is expected to lead the charge, with the sector projected to double in value to $58 billion by 2030. This growth is largely fueled by a booming fitness culture and increasing discretionary spending among Indian consumers.

Roma Datta Chobey, Managing Director (Interim Country Lead) of Google India, emphasized the importance of this moment for India’s sports sector. “We are witnessing a surge in multi-sport fandom and a growing popularity of digital platforms. Gen Z is becoming the largest segment of India’s sports fanbase, driving demand for personalized and immersive experiences,” she said.

Digital platforms are rapidly transforming how sports content is consumed in India. A majority of Indian sports fans, particularly Gen Z, now access sports digitally. This generation—comprising 43% of India’s sports fanbase—is particularly engaged, consuming sports content even during off-seasons and seeking more interactive, personalized experiences.

The report points out that 93% of Gen Z fans consume sports content digitally, underlining the importance of digital engagement in the sector’s future growth.

The report suggests that India has the potential to become a global leader in sports, with technology playing a key role in nurturing talent from the grassroots level. Romal Shetty, CEO of Deloitte South Asia, highlighted the vast opportunities offered by technological advancements, such as artificial intelligence (AI) and cloud platforms, to enhance the sports ecosystem and accelerate growth.

“We have a unique opportunity to reach youth across the country, tapping into the growing enthusiasm for sports and using technology to empower the next generation of athletes,” Shetty added.

With sports gaining significant momentum in India, the sector is poised to become a major driver of economic growth, employment, and national pride in the years to come.

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The post India’s sports market to hit $130 billion by 2030, generating 10.5 million jobs: Report appeared first on PGurus.

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