Asian Games glory headlines meteoric rise of India’s sports sector in 2023

New Delhi, Dec 28: Backed by a historic campaign at the Asian Games 2022, India’s sports sector has undergone a remarkable paradigm shift in 2023, achieving historic milestones and witnessing the flourishing of various sporting disciplines.

With a record-breaking haul of 107 medals, India’s talented athletes showcased their excellence across diverse sporting disciplines. Notably, athletics emerged as the standout performer, constituting 20% of the total medals and portraying the nation’s dominance.

Punit Balan, Chairman & Managing Director of the Punit Balan Group (PBG), shared insights on India’s sporting industry’s growth and PBG’s role in fostering diverse sports in the country.

“The past year has been a monumental journey for the Indian sporting landscape. Our strategic investments in over nine leagues, both nationally and internationally, have contributed toward creating a thriving and sustainable ecosystem for Olympic, indigenous, and non-Olympic sports in the country. A shining example of this commitment is Indian Tennis Star Rutuja Bhosale, a PBG-supported athlete who clinched a gold medal in mixed doubles tennis at the Asian Games this year. With the Paris Olympics in mind in 2024, our focus is to increase our support for more athletes, offering them the necessary resources and backing to excel internationally,” said Punit Balan.

The Union Budget set the tone for the remarkable journey of the sporting industry this year, as the sports sector received its highest-ever budget allocation, reaching a staggering Rs 3397.32 Cr in the new FY 2023-24 Union Budget, with Khelo India securing a whopping Rs 1045 Cr in funding.

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