A collaborative effort between the government and the private sector is key to strengthening the sports ecosystem, said a report by CII and KPMG on the business of sports. It pointed out the need for recognising sports as an industry for the development of the sector in India.

The report said there was need to explore measures to develop a private investment-led sporting scenario in the country to achieve the country’s vision of excellence in sports.

Jaideep Ghosh, partner, KPMG, said, “Corporate funding in sports may be the answer to ignite sports development in India. The gestation period for realising return on such investments may be long, but global experience shows us that it could be potentially rewarding.”

The report stressed on the need to develop a sports culture in the country, provision of industry status to sports, strict implementation of Sports Bill 2013 as well as indentifying and promoting collaboration among all stakeholders to encourage more innovative business collaborations.

Sports infrastructure development, implementation of a uniform robust legal framework for governance across all sports leagues are other recommendations made in the report.

Atul Singh, Chairman, National Committee on Sports and Group President–Asia, The Coca Cola Company, said corporates should be more patient and draw up long-term strategies in their engagement with the sector.

“Sports have a strong business appeal and at the same time one should not look at the return on investment in the short and medium term. It takes longer engagement to get the desired results,” he added.

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