India’s Sports Market To Grow At 10–12% CAGR Through 2030: CareEdge Ratings

New Delhi, Jul 24 (KNN) India's sports market is positioned for significant expansion, with projections indicating a compound annual growth rate of 10-12 percent through 2030, according to a recent report by CareEdge Ratings.

The growth trajectory is attributed to government initiatives aimed at promoting sports participation and an increasing public interest in fitness activities.

The report values India's current sports market at approximately USD 52 billion, with core sub-sectors contributing USD 31 billion and allied sub-sectors accounting for an additional USD 21 billion.

CareEdge Ratings anticipates this upward momentum will persist as consumer engagement with sports and fitness continues to rise.

The sports equipment manufacturing sector represents a key growth driver within the broader market expansion.

Currently, the sports sector comprises roughly 0.9 percent of India's gross domestic product, aligning with proportions observed in several leading sporting nations globally.

The industry maintains strong interconnections with related sectors including media, telecommunications, education, real estate, and tourism.

These linkages create substantial multiplier effects that contribute to broader economic and social development, particularly in areas related to public health and well-being.

India's sports goods exports have demonstrated consistent growth in recent years, reflecting both robust global demand and strengthening domestic manufacturing capabilities.

Export figures for the first ten months of fiscal year 2025, spanning April 2024 to January 2025, reached USD 497.3 million. CareEdge Ratings projects this figure will increase to approximately USD 660 million by fiscal year 2026.

The country exports roughly 60 percent of its sporting goods production, with two primary manufacturing centres driving output.

Jalandhar in Punjab and Meerut in Uttar Pradesh collectively account for approximately 75-80 percent of total national production.

Beyond these established production hubs, emerging manufacturing regions are developing in Tamil Nadu, Maharashtra, West Bengal, Delhi, and Jammu.

These newer centres are concentrating on specialised market segments including sportswear, synthetic materials, and indoor sports accessories.

The report indicates substantial room for further sector expansion, noting that supportive policy reforms and infrastructure development will be crucial factors in enhancing the sports industry's contribution to India's economy in the years ahead.

(KNN Bureau)