Sports Equipment Industry In India Has Leapfrogged To International Standards
07 Jul 2022
India’s sporting history goes back several thousand years. Along with indoor games like dice and chess, outdoor sports such as archery, wrestling, swordsmanship, and boxing can be traced back to ancient times.
It’s no wonder that
sports equipment manufacturing companies
have sprouted across the country in the past six decades. Sardar Ganda Singh Oberoi founded the first sports goods company in Sialkot (present-day Pakistan) in 1883. The company started exporting goods to England in the following year.
Post partition, Meerut and Jalandhar has emerged as the hub for the sports equipment manufacturing industry in India. Currently, these two cities and surrounding areas account for 75-80% of the country’s total production of sports goods.
The industry produces about 318 varieties of sporting equipment. The more popular ones are hockey sticks and balls, cricket bats and balls, fishing equipment, indoor games like carrom and chess, gymnastic and sportswear items, toys, video game consoles, and more.
The Export Scenario
India exported sports goods worth $546 million (approx.) in 2021-22. The export of sports goods from India has witnessed a whopping 13% CAGR since 2016-17.
The major export items include puzzles, video games, parlour and billiard games, casino articles, swimming gears, fishing, hunting and circus equipment, shooting gallery and amusement park materials, and more.
Sports Goods Export Promotion Council plays a significant role in driving the export business from India.
Sports Equipment Manufacturer
A well-researched business plan that includes a thorough SWOT analysis of the targetted market.
Being an investment-heavy industry, a robust financial plan to support the initial funding is critical. Given the industry’s growth trajectory, the turnaround time may not be much.
It is ideal to have the manufacturing unit near the industrial hub to avoid high transportation costs.
Optimizing the quality and quantity of raw materials is critical. Sourcing plays a major role in this regard.
While low prices initially may help gain market share, it is also relevant to keep in mind that quality is often equated with the product price.
This is a highly competitive market, and hence a strong marketing plan including tie-ups with local gyms, sports academies, schools, etc.will be instrumental in laying a strong foundation for the business and steady growth thereafter.
Industry Experts (https://www.industryexperts.co.in/) can provide end-to-end support in setting up your manufacturing unit or sourcing from established suppliers as per your requirements.
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