India's Sports Industry Poised for Explosive Growth to Reach $130 Billion by 2030
Mumbai: The sports industry in India is set to explode into the stratosphere, with the sector expected to grow from $52 billion in 2023 to a whopping $130 billion by 2030, driven by an increasing fan base of multi-sport enthusiasts and Gen Z audiences.
According to a report by Deloitte-Google, titled Think Sports: Unlocking India’s $130B Sports Potential, the sector's compound annual growth rate (CAGR) of 14% is nearly double the nation's GDP growth rate, highlighting its significant potential as a transformative force for the economy and society.
Indian sports fans now account for an impressive 655 million enthusiasts, with Gen Z making up a substantial 43% of the fan base. Although cricket remains dominant, accounting for 70% of sports-related digital searches, other emerging sports like kabaddi (120 million fans), football (85 million fans), and indigenous sports like kho-kho are gaining popularity.
The report paints an encouraging picture of a more diverse sports culture in India, with 90% of fans now following multiple sports. This presents significant opportunities for emerging sports to engage fans and attract equitable investments.
Furthermore, the rise of digital platforms has radically changed how Indians consume sports, with 93% of Gen Z fans consuming content digitally, marking a time when fans spend 20% more time on non-live content like highlights and short-form videos.
To tap into this growth, experts recommend leveraging interactive and AI-driven technologies to enhance the fan experience, driving revenue across platforms. This could potentially unlock new avenues for digital-first formats, personalized engagement, and optimized broadcasting rights.
The report predicts that India's sports sector will create 10.5 million jobs and generate $21 billion in indirect tax revenue by 2030. Additionally, the sports goods and apparel market is set to double to $58 billion, driven by a fitness-conscious population and increasing demand for merchandise from favorite teams and players.
While economic benefits are substantial, experts warn of challenges facing the sector, including infrastructure and governance issues. However, initiatives like government-backed programs, such as the National Sports Policy 2024 and Khelo India, are well-positioned to support grassroots development and bridge gaps, ultimately fostering inclusive growth.
Ultimately, the Indian sports industry is expected to revolutionize its ecosystem through technology, investment in emerging sports, content localization, and leveraging AI-driven platforms.