More IPLs to make sports industry commercially viable

Mumbai:

With the success of Indian Premier League, Government has started paying importance to the sports sector and is encouraging more Public-private partnerships to make the industry more socio-economically viable.

In a bid to recognise other sports as a revenue and employment generating industry in the country, the Government has increased funding for the industry to over Rs 4,600-crore in the 11th five-year plan from a mere 27-crore in the 6th five year plan, a top government official said.

"The government understands the importance of the sports industry and hence has increased the funding multifolds in the past few years. We, however, need more corporates and financial institutions to come forward and make the industry more economically viable," Union Planning Commission, Member, Narendra Jadhav told reporters at a sports summit, organised by Transtadia, in Mumbai on Wednesday.

He also said that keeping in view India's demographic dividend, the Government is planning to introduce sports as a part of the curriculum in both primary and secondary schools.

"We are planning to introduce sports in the study curricullum both in primary and secondary schools. We are planning to have a scheme called Sarva Krida Abhigyan on pan India level. We are reviewing the scheme and a report on that will be released in a few days," Jadhav said.

Speaking on the event, HDFC Bank's Chairman Deepak Parekh also echoed the same view of allowing more investment on commercial model to build more stadiums and sports academics.

He also released a report made by rating agency Ernst and Young that said lack of infrastructure and coaching facilites was the major reason for the stunted growth of this 'sunrise' industry.

The report further stressed on the need for creation of more sport events, instead of focusing only on cricket, at the regional to promote a sports culture with higher involvement of local media.