The sports industry is the field where various activities, business people and organisations come together in producing, promoting, facilitating any business entrepreneurship or model related to sports. Any kind of goods, services, people, places or ideas in the field will be related to the sports activity and its market.
Coming to the sports structure in India, though Hockey is our national game, the importance for domestic professional sports is growing by each passing year, says Sports Astrologer and Astro strategist Hirav Shah
The sports industry in India
Sports in India means the collaboration of a large variety of games ranging from tribal to mainstream sports such as cricket, badminton, football etc. Among all the sports, Cricket enjoys everlasting huge craze among Indian citizens but the current scenario looks favourable for other regional games like Kabaddi, Wrestling also.
The launch of sports leagues like Indian Premier League ( IPL), a new format named Twenty20 cricket, Indian Sports League and I-League related to football, the pro-Kabaddi League, the Hockey Indian League, Premier Badminton League, the Pro Wrestling League, Table Tennis league, Pro Volleyball League, The ultimate Kho-Kho league has created a lot of space for the Sports industry in India.
On the other hand, the craze for rich man’s game Golf is also seeing significant growth from the past few years in our country as the franchises are coming forward to promote it in a big way by spending big bucks.
Sports industry market statistics in India
Being one of the largest industries across the globe in terms of employment and revenue, the Sports industry in India is emerging as one of the good revenue-generating sources.
Compared to the past scenario, the industry has been witnessing a stable growth from the past few years. After the establishment of premier league culture, the industry has become strong career security for various sections such as coaches, trainers, athletes, event managers, Professional Sports promoters, sales and production units, event consultants and Sport Sponsorship Specialists.
Currently, the sport’s contribution to India’s employment is less than 1% but the things are not going to be the same in the coming years, says Hirav Shah.
Is it the right time to launch a professional sports league ?
Getting boosted up by initiatives like professional leagues for developed sports, the professionalization of heritage sports, an increase of corporate sector investments, sports and commercialization of underdeveloped games is going to play a major role in the sports industry.
As per a few studies, the sports market has the potential to compete with major revenue-generating IT industries very soon as the job opportunities in the above-mentioned premier leagues look brighter and encouraging.
If the Indian government comes forward to focus on the industry by providing incentives, the sports industry will emerge as solid employment creating the source.
Investing or launching a division in any of the popular Indian games will surely turn as a profitable venture, opines Hirav Shah
To conclude, Sports Astrologer Hirav Shah says that the sports industry in India is going to each next level in the coming years and launching a new unit in any of the sports units will see profits for sure. But before that, he suggests approaching an Astrologer, who provides authentic information on the individual sports sectors and gives beneficial ideas before going ahead with launching plans.