India Has $8.1 Billion Sports Goods Export Opportunity: NITI Aayog

(MENAFN- IANS) New Delhi, March 19 (IANS) India has a significant opportunity to expand its presence in the global sports goods market, with the potential to export equipment worth $8.1 billion and create millions of jobs over the next decade, according to a new report on Thursday.

A study released by NITI Aayog said the country could generate up to 5.4 million additional jobs cumulatively by 2036, especially across micro, small and medium enterprise (MSME) clusters, if it taps into this opportunity effectively.

The report, titled“Unlocking India’s Export Potential in Sports Goods Manufacturing,” highlighted that India is at a crucial turning point.

Shifts in global supply chains, a pipeline of major international sporting events, and increasing policy support are creating favourable conditions for boosting exports and reducing import dependence.

It noted that by addressing structural cost disadvantages, strengthening partnerships with global brands, upgrading manufacturing capabilities, and improving market access and branding, India can transform its sports goods industry into a globally competitive export sector.

The think tank stressed that achieving this goal would require coordinated policy action and close collaboration between the government, industry players, and sports institutions.

It also underlined the need for consistent implementation to overcome long-standing challenges in the sector.

According to the report, the global sports goods market is currently valued at around $140 billion and is expected to grow to nearly $283 billion by 2036.

Fitness and strength equipment, such as treadmills, account for the largest share at 33 per cent, followed closely by ball game equipment like footballs at 32 per cent.

Athletic training gear and racket or net-based sports equipment also form a significant part of the market.

Global exports of sports goods stood at approximately $52 billion in 2024, growing at a compound annual rate of 2.4 per cent.

Categories such as gym and athletic equipment and bicycles dominate exports, followed by items like leg pads, nets, bats, and golf gear.

India’s share in global sports goods exports remains relatively small at just 0.5 per cent.

The country exported sports equipment worth $275 million in 2024, largely driven by cricket gear, fitness equipment, and inflatable balls.

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