Recently, India officially threw its hat in the ring to host the 2036 Summer Olympics by submitting the Letter of Intent to the International Olympic Council. Yes, it doesn’t guarantee that India would become only the fourth Asian country to host the biggest sporting extravaganza 12 years from now but it definitely can be a catalyst to transform the Indian sporting ecosystem.Ever since the Indian cricket team won the 1983 cricket world cup, the nation of over a billion has been following the sport like a religion, creating a narrative that the Indian sporting ecosystem was essentially a cricket versus others when it came to attracting sponsorships and corporate support.But a lot of water has flowed under the bridge since India successfully hosted the 2010 Commonwealth Games in Delhi and the government has extended a lot of support to non-cricket sports. This has laid the foundation for making India a sporting powerhouse with the corporate world pitching in with strategic investments from grassroots to elite sports, fan engagement and even infrastructure creation.That India is on the verge of a sporting revolution stems from the fact that it is no longer a one-sport nation and there is enough evidence to prove that.
Sports market
According to the recent ‘Think Sports: Unlocking India’s $130 bn Sports Potential’ report, India’s sports market, currently valued at $52 billion, is poised for a strong 14 per cent CAGR from now until 2030, riding on strong government push and high digital penetration creating a stronger fan base and a talented pool of sportspersons who have the potential to rule the world of sports in the next few years.While the government is doing all it can, this provides a wonderful opportunity for the corporate world to provide a much bigger impetus to this journey. The process has already begun and the way the professional leagues in indigenous sports like kabaddi and kho-kho, along with Olympic sports like table tennis and now handball, are making an impact, we have a play-book that can be replicated to bring in funds for many more sports.The success of badminton and wrestling has already led to a manifold increase in overall participation, and the same is true in sports like table tennis, archery, shooting and even in team sports like football, hockey and even basketball. The need is for those having the resources to probably improvise the models followed by nations like Japan where companies adopt sports teams and players, or the European system of community involvement to create a sustainable business model for coaches, allied services experts, equipment manufacturers, and a quality experience for fans who are the backbone of any successful sports enterprise.The proposed National Sports Policy 2024 has already listed many initiatives to promote sports culture, and there are also enough opportunities for strategic investments in grassroots sports and player development through CSR.With India showing a strong intent to