Sports Equipment Industry in India
The sports equipment industry in India, although integral, is relatively small in production volume and is predominantly driven by micro, small, and medium enterprises engaged in labour-intensive segments. This sector plays a crucial role in the economic framework of sports.
While cricket dominates the sports landscape in India, the ecosystem is diversifying with notable athletes like Neeraj Chopra and Lakshya Sen highlighting different sports.
NITI Aayog and FED Report
A report by NITI Aayog and the Foundation for Economic Development (FED) titled ‘Realising the export potential of the sports equipment manufacturing market in India’ provides a comprehensive view of the industry's current state.
Industry Challenges
- Global Contribution: Despite a strong cultural affinity for sports, India contributes only about 0.5% to the global sports equipment trade, which is valued at nearly $50 billion.
- Structural Issues: The limited contribution is not due to a lack of legacy or capability but rather due to structural challenges within the industry that restrict its growth potential.
