Indian Economy News

NITI Aayog Releases Report on ‘Realising the Export Potential of India’s Sports Equipment Manufacturing Sector’

NITI Aayog has released a comprehensive report titled ‘Realising the Export Potential of India’s Sports Equipment Manufacturing Sector’, highlighting India’s opportunity to emerge as a competitive global player in sports equipment manufacturing. The report aligns with the Make in India initiative and the vision of Viksit Bharat @2047, emphasising export-led growth and employment generation through MSME-driven clusters. Globally, the sports goods market was valued at about Rs. 58.58 lakh crore (US$ 700 billion) in 2024 and is expected to exceed Rs. 93.23 lakh crore (US$ 1 trillion) by 2036, while the sports equipment segment alone is projected to grow significantly. Despite strong capabilities in segments like cricket equipment, India’s share in global sports equipment exports remains limited at around 0.5%, indicating substantial scope for expansion.

The report identifies key challenges such as high input costs, certification expenses, logistics inefficiencies, and limited access to advanced technology, which result in a 15-20% cost disadvantage compared to global competitors. To address these issues, it recommends policy interventions including rationalisation of duties, technology upgradation, development of new manufacturing clusters, and creation of shared testing facilities. A coordinated investment of approximately Rs. 7,500 crore (US$ 804.51 million) is planned between 2027 and 2031 to strengthen the ecosystem. If implemented effectively, India’s sports equipment exports could rise from Rs. 2,301.26 crore (US$ 275 million) to Rs. 75,516.30 crore (US$ 8.1 billion) by 2036, potentially generating around 54 lakh jobs and significantly increasing its global export share.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.