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MUMBAI: Sports is the one sector where India has to and will leap frog the most. Despite being formally around as a sector for more than a century, sports is at best a fledgling industry with a size of $2.5 billion. Compare this to the IT, telecom, e-commerce and payments vertical which have been built within recent memory but are humongous in comparison. Sports’ commercial size is reflective of the relative status it has in the pecking order.
However, it is possible to grow this industry four-fold to an economic value of $10 billion. But what is needed is investment for the long term and collaboration among stakeholders.
These remarks were made by Star India managing director Sanjay Gupta while delivering the Premier League Conference keynote address.
“Firstly, we have to invest for the long term. I am thinking of 5–10-year cycles at the very least. Only grit and tenacity can lead to societal change. This is not an instant noodle recipe. Frankly, it’s also a commercial imperative; no one can make any return in a shorter cycle,” Gupta said.
Secondly, all players in the ecosystem have to collaborate effectively. Like collaborative farming ethos, not a competitive hunter mindset. “If we all row the boat, we take a longer voyage,” he said.
Indian sports industry can touch economic value of bn: Star MD Sanjay Gupta | TelevisionPost.com
However, it is possible to grow this industry four-fold to an economic value of $10 billion. But what is needed is investment for the long term and collaboration among stakeholders.
These remarks were made by Star India managing director Sanjay Gupta while delivering the Premier League Conference keynote address.
“Firstly, we have to invest for the long term. I am thinking of 5–10-year cycles at the very least. Only grit and tenacity can lead to societal change. This is not an instant noodle recipe. Frankly, it’s also a commercial imperative; no one can make any return in a shorter cycle,” Gupta said.
Secondly, all players in the ecosystem have to collaborate effectively. Like collaborative farming ethos, not a competitive hunter mindset. “If we all row the boat, we take a longer voyage,” he said.
Indian sports industry can touch economic value of bn: Star MD Sanjay Gupta | TelevisionPost.com