New Delhi, March 19 (NationPress) India is poised to capitalize on a remarkable opportunity to enhance its role in the international sports goods sector, with the capability to export products valued at $8.1 billion and potentially generate millions of jobs in the coming decade, as outlined in a recent report released on Thursday.

A research document from NITI Aayog indicates that the nation could create as many as 5.4 million new jobs cumulatively by 2036, particularly within micro, small, and medium enterprise (MSME) clusters, if it successfully leverages this opportunity.

The report, titled “Unlocking India’s Export Potential in Sports Goods Manufacturing,” emphasizes that India stands at a pivotal moment.

Changes in global supply chains, a series of major international sporting events on the horizon, and increasing support from government policies are fostering an environment conducive to enhancing exports and diminishing reliance on imports.

It also pointed out that by tackling structural cost disadvantages, forging partnerships with international brands, refining manufacturing processes, and enhancing market access and branding, India has the potential to evolve its sports goods sector into a globally competitive export powerhouse.

The think tank highlighted that reaching this objective necessitates coordinated policy initiatives and strong collaboration among the government, industry stakeholders, and sports organizations.

Additionally, it emphasized the importance of consistent execution to address long-standing issues within the industry.

The report indicates that the global sports goods market is presently valued at around $140 billion and is anticipated to surge to nearly $283 billion by 2036.

Fitness and strength equipment, including treadmills, make up the largest segment at 33 percent, closely followed by ball game items such as footballs at 32 percent.

Moreover, athletic training gear and equipment for racket or net sports also constitute a significant portion of the market.

In 2024, global exports of sports goods reached approximately $52 billion, growing at a compound annual growth rate of 2.4 percent.

Categories like gym and athletic equipment and bicycles lead the export figures, followed by products such as leg pads, nets, bats, and golf equipment.

Despite the opportunities, India’s share in global sports goods exports remains modest at merely 0.5 percent.

In 2024, the country exported sports equipment valued at $275 million, primarily driven by cricket gear, fitness equipment, and inflatable balls.