India's Sports Market Poised to Reach $130 Billion by 2030 with Double-Digit Growth Rate
New Delhi: India's sports industry is set to experience a significant boost, with a projected market size of $130 billion by 2030 at a compound annual growth rate (CAGR) of 14 per cent, according to a report released by Google and Deloitte on Thursday.
The report also predicts the creation of up to 10.5 million jobs and $21 billion in indirect tax revenue by 2030, marking a notable increase from the current market size. This growth rate is nearly double the pace of India's overall GDP, indicating a fundamental shift in how Indians consume and engage with sports.
The report attributes this growth to various factors such as increasing government investments, a rising trend of multi-sport culture, wide digital adoption, and a range of quality sports content. The sports goods and apparel market is expected to double in value to $58 billion by 2030, driven primarily by the growing fitness culture and increased discretionary spending.
"We're witnessing a surge in multi-sport fandom, a growing popularity of digital platforms, and deep engagement from Gen Z, who represent the largest segment of India's sports fanbase," said Roma Datta Chobey, Managing Director (Interim Country Lead), Google India. "These trends create a fertile ground for innovation and engagement, presenting unique opportunities for organisations and businesses to connect with passionate fans across the nation."
Digital platforms have played a pivotal role in transforming sports consumption in India, with most fans now accessing sports content digitally. This trend is even more pronounced among Gen Z, who make up 43 per cent of the fanbase and are driving demand for interactive and personalized experiences.
"India's potential to become a global leader in sports is both a tremendous opportunity and a powerful driver for nation-building," stated Romal Shetty, CEO, Deloitte South Asia. "With advancements in technology from AI to cloud platforms, we have a unique opportunity to nurture talent from the grassroots level, reaching youth in every corner of the country."