Summary:

India's sports technology market, including apps, devices, and sensors, is set to grow 85% to ₹49,500 crore (US$5.70 billion) in four years, per a FIFS-Deloitte report. Revenue reached ₹26,700 crore (US$3.08 billion) in FY24, with a projected 13% CAGR until FY29. Digital technologies boost athlete performance, fan engagement, and multi-sport interest, while fantasy sports drive growth and job creation. The fantasy sports sector struggles under a 28% GST, matching the gambling tax rate, causing a 10% decline projected for FY25 and a 50% margin hit. Investments fell 90% in 2023, with none in 2024. Despite this, FIFS Director General Joy Bhattacharjya remains optimistic, highlighting sports tech’s potential to boost athletic performance, fan engagement, and growth, positioning it as a key force for Indian sports.

Source: IBEF 

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