Exports From Indian Sports Goods Industry Can Reach $500 Million Mark: Exim Bank Study

In a latest report launched by the India Exim Bank, the Indian sports activities items trade has an untapped potential of $227.4 million. It can attain $500 million if the potential is tapped successfully. According to the report, that is the suitable time for India to push for applicable reforms and enhance export competitiveness.

The report was launched on twenty first August 2021, by Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman throughout a operate for the launch of the Ubharte Sitaare Fund. The operate was collectively organised by India Exim Bank and SIDBI in Lucknow.

The research was carried out to analyse the worldwide and Indian sports activities items trade. The report talked about the Global Wellness Institute’s findings as effectively. It stated that the per capita shopper spending on sports activities stands at $90 per 12 months, signifying an enormous potential.

The cities of Jalandhar and Meerut had been particularly talked about within the report as “the key centres of production” in India. They produced two-third of the whole sports activities items produced in India. Exports of Indian sports activities items, between 2010 and 2019, recorded a development price of 5.9 per cent from $166.1 million to $278.9 million. India is the third-largest Asian producer simply after China and Japan, the research stated.

“Athletics and gymnasium equipment was the largest category of sports goods exports from India in 2019-20,” the report stated. Athletics {and gymnasium} tools accounted for almost 37.7 per cent of the whole sports activities items exported from the nation. It was adopted by festive articles and tennis and different balls.

Impact of Covid-19 

Due to Covid-19 induced lockdowns, sports activities items commerce in India in April 2020 recorded an enormous decline of 86.3 per cent on a year-on-year foundation. In the monetary 12 months 2020-2021, exports of the entire sports activities sector declined by 3.7 per cent and imports declined by 4 per cent.  

The pandemic impacted the gross sales and exports of outside sports activities. The demand declined resulting from restrictions. On the opposite hand, Indoor video games, particularly racket video games, noticed strong demand in India in the course of the interval. The report additional acknowledged, “…increasing vaccination rates and organisation of postponed international sports events are likely to fuel the demand for outdoor sports goods in the short to medium term.”

Kashmir Willow Bats and GI

The report laid particular deal with the Kashmir Willow bats. These bats come round 20 occasions cheaper within the worldwide market than their counterparts like English willow. The research prompt that getting a Geographical Indicator tag to the Kashmir bats may help India enhance their income exponentially.

The GI tag may also assist the native producers to develop and flourish. According to the report, “A repository of information about companies/artisans involved in production and exports of Kashmir Willow bats could be maintained by the certifying body, to ensure quality and uniqueness of the product.”

Some recommendations within the report

The report additional prompt some methods to reinforce the sports activities items exports. These embody diversifying the merchandise, lowering the inefficiencies and bottlenecks like duties and many others., constructing the merchandise of the worldwide normal, selling sports activities tourism in participatory in addition to spectator sports activities and rising the deal with analysis and growth.

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