Entering the Sports Business Market in India

With a population of over 1.4 billion people and a strong passion for sports, the Indian market offers significant potential for international companies to invest. The sports, media and entertainment sector in the country is a rapidly growing and highly lucrative opportunity for international sports businesses. As per a recent PWC report on the global entertainment & media outlook, the media and entertainment sector in India is expected to be the fastest growing worldwide in terms of both advertising and consumer spends. This sector in India is projected to exceed US$ 53.64 billion by 2025 and estimated to grow at a compounded annual growth rate of 10.75% in the next three years. Although hiring experts in navigating business in India is an absolute must, here are 10 points to consider in helping drive effective sports business for those from outside the country:

Research the market: It is important to thoroughly research the Indian sports landscape before delving in. This includes understanding the local business environment, cultural differences, and the specific needs and preferences of the target marke

Understand local laws and regulations: It is essential to familiarise yourself with the local laws and regulations that govern business in India, including those related to taxes, import and export, and intellectual property.

Build a local network: Building a network of local contacts, such as business partners, suppliers, and advisors, can be helpful in navigating the Indian sports environment.

Partner with a local company: Partnering with expert businesses can provide valuable insights into the local market and can help smooth the process of entering the arena.

Adapt to local business practices: Indian business culture may differ significantly from that of other countries. It is important to adapt to local business practices and customs, such as the importance placed on religion, family and of building personal relationships.

Offer high-quality products or services: In order to be successful in the Indian sports market, it is important to offer products or services that meet the high standards of the new generation of Indian consumers.

Focus on customer service: Providing excellent customer service is crucial in the Indian market, where high customer satisfaction can really make you stand out from the crowd.

Establish a strong online presence: A strong online and social media presence, with a specific focus on India, can help you reach potential customers and partners in India.

Use local marketing and advertising channels: In order to effectively market your sports products or services in India, it is important to use local marketing and advertising channels, such as local newspapers, television stations and of course social media to increase audience engagement.

Hire local staff: Hiring local staff can be beneficial in understanding the unique business landscape, as well as establishing credibility in the country. It is also important to follow the country’s employment laws and regulations.

Franchise sport has seen an exponential rise in the country over the past 15 years. Some of the major professional sports leagues include; the Indian Premier League (IPL) for cricket, the Indian Super League (ISL) for football, the Pro Kabaddi League (PKL), the Premier Badminton League (PBL), the Hockey India League (HIL), and Ultimate Table Tennis (UTT). These leagues are increasingly popular among Indian sports fans and can provide opportunities for sports businesses to engage with both the domestic and international markets.

India's economy is growing at a rapid pace, with GDP expected to reach $5 trillion by 2025. This growth is driven by a number of factors, including rising incomes, rapid urbanisation, and a growing middle class. This creates a favourable environment for businesses looking to expand their operations in India.

While entering a new market can be challenging, the potential rewards of undertaking business in India make it a promising destination for companies looking to increase their global presence.

Baljit Rihal of Inventive Sports is available to offer advice on conducting business in the Indian Sports market. You can reach him through LinkedIn or his other social media channels which can be found on Linktree > https://linktr.ee/BaljitRihal