India’s Sports Market Poised To Reach $130 Bn By 2030: Report

Indian sports market is set for a metamorphic change and is poised to reach USD 130 billion by 2030, according to a new report by Google and Deloitte. This growth, a 14 per cent compounded annual growth rate (CAGR) - nearly double the pace of India's gross domestic product (GDP), signifies a fundamental shift in how Indians consume and engage with sports, driven by increasing government investments, multi-sport culture, wide digital adoption, and a range of sports content.

The report also projects the creation of about 10.5 million jobs and USD 21 billion in indirect tax revenue by 2030. The joint report asserted that India's booming sports sector presents a huge opportunity - from government agencies and sporting bodies to businesses, investors, content creators, and fans - to collaboratively shape the future of sports.

"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.

Romal Shetty, Chief Executive Officer, Deloitte South Asia, said India's potential to become a global leader in sports is both a tremendous opportunity and a powerful driver for nation-building. "With the advancements in technology from artificial intelligence (AI) to cloud platforms, we have a unique opportunity to nurture talent from the grassroots level, reaching youth in every corner of the country," added Shetty.

Coming to the report, it noted that while cricket remains a national passion, 90 per cent of Indian sports fans now follow multiple sports, with Kabaddi and Football gaining traction with 120 million and 85 million fans respectively. The rise of digital platforms has transformed sports consumption in India. Most fans now access sports content digitally.

This trend is even more pronounced among Gen Z, who make up 43 per cent of the fan base. The sports goods and apparel market is leading the way, and it is expected to double in value to USD 58 billion by 2030, driven by a rising fitness culture and increased discretionary spending. (ANI)