The Sports Companies in India are one of the largest industries globally in terms of employment and revenue. The industry employs more than 600,000 people.
Sporting goods from India have made a mark on the global market, and are widely popular worldwide. It exports nearly 60% of its total output to sports-loving consumers around the globe.
According to a report, From April 2020 to March 2021, the sports goods export was worth US$ 268.52 million, while for March 2021, it was US$ 24.03 million.
Indian sports products have been exported for global events as well. For an instance, in Tokyo Olympics Games 2021, three out of six companies listed by the sports governing body World Athletics to provide implements for different events are based in India.
One of the oldest and leading Manufacturers and Suppliers of sports equipment in India from Meerut “Bhalla International - Vinex” is providing 36 implements in Tokyo Olympics 2021.
The market size of the sports industry in India was over INR 6,000 crore in 2020 and is expected to grow at a CAGR of 8.6% during 2021-2026.
The core of the industry in India is concentrated in the states of Punjab and Uttar Pradesh; in Punjab Jalandhar (Punjab) and Meerut (Uttar Pradesh) together account for 81% of domestic production with more than 3,000 industrial units and 230 exporters present in these two locations.
The Indian Government has allowed 100% FDI in the manufacturing of sports products in single-brand retail under the automatic route.
The government's manufacturing policy is centered on exports rather than the domestic market. As a result, the government created special economic zones, where manufacturers can receive incentives such as tax exemptions and easier clearance procedures. In 2019, India was among the top 10 recipients of FDI that attracted US$ 49 billion inflows.
In 2010, one of the largest companies in India Reliance Industries collaborated with New York city based company IMG, originally, International Management Company in a joint venture to promote and develop sports, entertainment, and fashion in India.
According to a report, in the 2020 fiscal year, IMG-Reliance raised a record revenue of INR 181 crore and a net profit of INR 16.35 crore.
There are approximately 30,000+ sports companies in India and 8,00,00+ sports companies worldwide.
The Top 10 sports companies in India are the following:
GMR Sports Pvt Ltd
Gameplan Sports Pvt Ltd
Get contact information of Top decision makers like Founder, CEO, CFO, CMO, CTO, Marketing head, HR head, Finance head along with headquarters, no of employees, revenue, founded year, industry in these companies.