Meteoric Rise & Development in Indian Sports Event Sector in 2023

Entertainment | December 21, 2023 | News

Indian Sports Sector

In the year 2023, India witnessed a remarkable period filled with record-breaking feats and notable breakthroughs across various sporting domains. It has undoubtedly been a monumental one for the Indian Sports ecosystem through significant achievements including:

In the Union Budget 2023, the sports sector has received its highest-ever budget allocation in history. With an over 300 Crore jump, the sports sector has received Rs 3397.32 Cr allocation in the new FY 2023-24 Union Budget. Khelo India received a whopping 1045 Cr funding.

Asian Games Glory:

Setting a new benchmark with a record-breaking haul of 107 medals, the nation's athletic prowess took centre stage, contributing significantly to this remarkable achievement. Notably, the standout performance in athletics marked phenomenal growth, accounting for approximately 20% of the total medals—a testament to the country's escalating dominance on the sporting stage compared to previous editions.

Sporting events that have had some outstanding performances:

1. Badminton:

A Historic Feat by Satwiksairaj Rankireddy and Chirag Shetty. The duo etched their names in history, becoming the first Indian doubles pair to seize the men's doubles title at the prestigious Indonesia Open. Their triumph followed earlier successes at the Commonwealth Games and world championships, marking a stellar year for Indian badminton.

2. Football:

Chennaiyin FC has set the Indian Super League (ISL) ablaze with their electrifying performance, establishing themselves as formidable contenders in the fiercely competitive football tournament. Their spirited display on the field has transformed them into true warriors, capturing the attention and admiration of fans nationwide.

3. Boxing:

In a dazzling display of talent and determination at the IBA Women's World Boxing Championships 2023 in New Delhi, four stellar Indian athletes—Nikhat Zareen, Nitu Ganghas, Lovlina Borgohain, and Saweety Boora—etched their names in gold. These formidable women conquered the world stage, securing coveted gold medals and bringing glory to the nation in a breathtaking showcase of skill and prowess. Junior World Boxing Championships witness a triumphant finale for India as Payal, Nisha, and Akansha clinch gold, propelling the nation to a dazzling conclusion with a total of 17 medals. The Indian squad's stellar performance reverberates as a testament to their prowess and determination in the boxing arena, leaving a lasting imprint on the global stage.

If you are planning any year-end stories on the growth of Sports and how the sporting ecosystem has seen phenomenal growth to take Indian Sports to newer heights. we can share the responses or articles on behalf of the below-mentioned personalities on how the year fared for them and the Sports industry as India has been celebrating excellence on and off the sporting field.

Aiming High: Sports Teams, SportsPreneurs, Sports Leagues and Sports Startups

1. U Mumba

Spokesperson: Suhail Chandhok, CEO, U Mumba

Suhail Chandhok, a dynamic force in sports and entertainment, brings a three-generational legacy and over a decade of industry expertise to his role as the 35-year-old CEO of U Mumba. Tasked with elevating the team's success in Kabaddi, he is set to lead Brand U Mumba into uncharted territories, participating in the inaugural Global Chess League and Ultimate Table Tennis League. Chandhok's visionary leadership aims to transform U Mumba into a modern-day youth brand, leveraging his extensive experience, including contributions to Kabaddi's growth and involvement in major sporting events like the IPL, PKL, and Olympics. Suhail Chandhok is committed to shaping India's sporting landscape. His story epitomizes ambition, grit, and a relentless pursuit of perfection, inspiring others in the sports and business arenas.

2. Punit Balan Group

Spokesperson: Punit Balan, Founder

Punit Balan, a self-made entrepreneur, emerged from a construction background at 16 to lead the Punit Balan Group (PBG), currently valued at 3500 crores. With ventures in real estate, film production, sports, and philanthropy across India, Dubai, and Spain, Balan's success story is marked by creating landmark projects and ethical entertainment. As a unique Sportsprenuer who owns nine teams in various sports leagues across India and globally including World Tennis League, Global Chess League, Premier Tennis League, Ultimate Kho Kho, Premier Handball League, Ultimate Table Tennis, Pro Panja League, Maharashtra T20 Premier League and Premier Badminton League. He also financially supports close to 60 individual athletes around the country and has recently joined hands with the Maharashtra Cricket Association to nurture and develop Cricket talents across the Maharashtra region.

3. Ultimate Kho Kho

Spokesperson: Tenzing Niyogi, CEO and League Commissioner of Ultimate Kho Kho

Tenzing's remarkable 18-year journey in sports, spanning strategy, broadcasting, and sponsorship, positions him as a prominent figure in the industry. Currently serving as the CEO and League Commissioner of Ultimate Kho Kho, he spearheads the development of India's inaugural professional Kho Kho league. Promoted by Mr. Amit Burman, in collaboration with the Kho Kho Federation of India, Ultimate Kho Kho is all set to return after the success of its inaugural edition. Notably, this year Ultimate Kho Kho has achieved a significant milestone as it secured Series A funding from the UK-based BNP Group and became the first sports league in India to secure private equity investment.

4. Ultimate Table Tennis

Spokesperson: Vita J Dani, Co-Owner, Ultimate Table Tennis

Ms. Vita Dani, a trailblazing female sports entrepreneur and philanthropist, has left an indelible mark on India's sports landscape. As the driving force behind Ultimate Table Tennis (UTT), India's premier table tennis league, she has not only transformed the perception of the sport globally but has also played a pivotal role in professionalizing table tennis at all levels in India. Ms Dani's multifaceted contributions and unwavering dedication extend beyond table tennis; she is the co-founder of ELMS Sports Foundation, focusing on physical literacy, and a co-owner of the champion Indian Super League club, Chennaiyin FC.

5. Gamepoint

Spokesperson: Aditya Reddy, Co-Founders & CEO Gamepoint

Gamepoint is a technology-enabled full-stack sports company founded in 2016 by two sports enthusiasts and brothers, Aditya and Siddharth Reddy. Gamepoint encourages participative sports experiences for people of all ages. Gamepoint goes beyond physical benefits, emphasizing the mental, social, and life skills that sports instil. Gamepoint has extended its impact to inspiring 8,000 students to embrace sports, hosted 200 corporate sports events, and served a remarkable 200,000 unique adult players who enjoy their facilities through the app, which has already garnered over 93,000 downloads. They have also partnered with Decathlon, the world-renowned sports retail giant, with a common mission to make sports accessible to all and encourage individuals to embrace a healthier lifestyle through physical activity.

In the year 2023, India witnessed a remarkable period filled with record-breaking feats and notable breakthroughs across various sporting domains.

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