India on Verge of $130 Billion Sports Industry by 2030: Google-Deloitte Report
New Delhi (Alayaran.com). India is set to revolutionize its sports ecosystem with a surge in investments, digital adoption, and multi-sport culture, projected to reach monumental figures of $130 billion by 2030, according to a groundbreaking report by Google and Deloitte titled 'Think Sports: Unlocking India's $130B Sports Potential'. This unprecedented growth signals a remarkable shift in how Indians engage with sports, as the nation sets its sights on becoming a global leader in the sector.
The report predicts that sports in India will experience an extraordinary 14% annual growth rate (CAGR), far surpassing the country's GDP growth. Moreover, it estimates the creation of up to 10.5 million jobs and $21 billion in indirect tax revenue by 2030, while cementing its status as a major contributor to India's economic landscape.
According to the report, 90% of Indian sports fans now follow multiple sports, with Kabaddi and Football gaining significant traction among 120 million and 85 million fans respectively. While cricket remains an undisputed national passion, the popularity of new sports like Kho Kho and Hockey has transformed the country's sports consciousness.
"The potential for sports in India is a monumental one, poised to become a giant leap forward not just domestically but globally," Romal Shetty, CEO of Deloitte South Asia, emphasized. "To fully harness this vision, it is critical that we tackle barriers of access, infrastructure, and equitable development by building strong public-private partnerships and leveraging technology advancements."
Romal's sentiments align with those of Roma Datta Chobey, Managing Director (Interim Country Lead), Google India: “We see an unprecedented growth in multi-sport fandom, a growing popularity of digital platforms, and deep engagement from Generation Z, driving demand for innovative fan experiences centered on personalized insights, immersive technologies, and greater digital accessibility."
In light of these developments, the country's sports consumption landscape is rapidly evolving. According to the report, most fans now consume sports content digitally, with 93% of Gen Z enthusiasts viewing sports material through digital channels exclusively.
Gen Z, comprising 43% of India's fan base, has catapulted forward as leaders in this transformation, driving an unprecedented demand for dynamic, interactive experiences and tailored content.
Furthermore, women are increasingly taking the reins, making up nearly a third (36%) of India's sports fan base, with rural areas contributing 59%, exemplifying the significant expansion of sports' geographical scope within the nation. Furthermore, the sports apparel industry is poised to gain immense value as it projects at $22 billion by 2030, driven by growing fitness trends and consumer interest in team merchandise.
"We need to tackle the challenges we face with a united front; leveraging technology solutions can unlock unprecedented growth and provide new opportunities for organizations and businesses to engage passionate fans," Roma Datta added.
As India prepares to propel itself into the world sports stage, there's now clear evidence of its unwavering potential.