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India's sports market is expected to register a Compound Annual Growth Rate (CAGR) of 10-12 per cent through 2030, supported by government initiatives promoting sports participation and rising interest in fitness, according to a recent report by CareEdge Ratings.
The report estimated the current value of India's sports market at around USD 52 billion. Out of this, core sub-sectors contribute USD 31 billion, while allied sub-sectors add another USD 21 billion. The report highlighted that this growth momentum is likely to continue in the coming years, as more people turn towards sports and fitness. It stated "India's sports market... is on track for growth, projected to reach a compound annual growth rate (CAGR) of 10-12 per cent through 2030". One of the key drivers behind this growth is the Indian sports equipment manufacturing sector, which is seeing steady expansion. Currently, the sports sector accounts for approximately 0.9 per cent of India's GDP, which is on par with several top sporting nations. The sector also has a strong connection with other industries like media, telecom, education, real estate, and tourism. This close association gives the sports industry a large multiplier effect, helping to boost overall economic and social development, including health and well-being. The report further stated that India's sports goods exports have grown steadily in recent years, reflecting strong global demand and local manufacturing strength. During the first ten months of FY25 (April 2024 to January 2025), sports goods exports stood at USD 497.3 million. CareEdge Ratings expects this number to rise further and reach around USD 660.0 million by FY26. India exports about 60 per cent of its sporting goods, with two major production hubs, Jalandhar in Punjab and Meerut in Uttar Pradesh, together accounting for nearly 75-80 per cent of total production. Besides these established centres, new manufacturing regions are emerging in Tamil Nadu, Maharashtra, West Bengal, Delhi, and Jammu. These new hubs are focusing on niche segments such as sportswear, synthetic materials, and indoor sports accessories. With ample room for expansion, the report stated that supportive reforms and infrastructure development will play a key role in boosting the sector's contribution to the economy in the coming years. (ANI)
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