India's Sports Market To Reach $130 Billion By 2030, Create 10.5 Million Jobs

Roma Datta Chobey: India's sports market is poised to reach $130 billion by 2030 at a compound annual growth rate (CAGR) of 14 per cent, a Google and Deloitte report said on Thursday.

The report also projected the creation of up to 10.5 million jobs and $21 billion in indirect tax revenue by 2030.

This growth -- nearly double the pace of India's GDP -- signifies a fundamental shift in how Indians consume and engage with sports, driven by increasing government investments, a rising trend of multi-sport culture, wide digital adoption, and a range of quality sports content, the report noted.

The sports goods and apparel market is leading the way, expected to double in value to $58 billion by 2030, driven by a rising fitness culture and increased discretionary spending.

“This is a pivotal moment for sports in India and the report outlines a clear path to unlock the value of sports for the nation. 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.

“We see immense potential in leveraging the digital ecosystem to enhance the fan experience and advance the growth of the sports sector, especially with AI-driven personalisation and insights, immersive technologies, and greater digital accessibility. We are excited about the opportunities to partner with the ecosystem to drive innovation and growth in the sector,” Chobey added.

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, and are driving demand for interactive, personalized experiences, the report mentioned.

Today, 93 per cent of Gen Z fans consume sports content digitally and more than any other generation, Gen Z fans engage with their favourite sports even during off-season.

Romal Shetty, CEO, Deloitte South Asia, said that India’s potential to become a global leader in sports is both a tremendous opportunity and a powerful driver for nation-building.

Today, 93 per cent of Gen Z fans consume sports content digitally and more than any other generation, Gen Z fans engage with their favourite sports even during off-season.

Article Source: IANS