Sports Equipment Industry In India Has Leapfrogged To International Standards

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Sports Equipment Industry In India Has
Leapfrogged To International Standards Indias
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. Its 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
countrys 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.
Becoming a Sports Equipment Manufacturer in
India Business Plan A well-researched business
plan that includes a thorough SWOT analysis of
the targetted market.
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Investment Planning Being an investment-heavy
industry, a robust financial plan to support the
initial funding is critical. Given the industrys
growth trajectory, the turnaround time may not be
much. Factory Set-up It is ideal to have the
manufacturing unit near the industrial hub to
avoid high transportation costs. Raw Materials
Optimizing the quality and quantity of raw
materials is critical. Sourcing plays a major
role in this regard. Pricing Factor 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. Promotional
Strategies 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.