The Department for International Trade (DIT) today (Tuesday
11 June) welcomes an India-UK sports delegation in London
to showcase opportunities for British sporting exporters
during the 2019 Cricket World Cup.
The event will bring together business leaders from
high-profile sporting companies based in both countries, to
showcase international trade opportunities.
With exports of British sporting equipment at an all-time
high, rising by 10% to £500 million in 2018, new data from
DIT shows exports of sporting goods to India increased by
30.6% in the same period.
Secretary of State for International Trade, MP said:
The UK wants to be India’s partner in delivering world
class sporting events – using our experience and
expertise gained from delivering some of the biggest
global sports events in the world.
There are significant benefits of hosting large sporting
events to local economies. By showcasing the success of
British business at the cricket world cup, the UK stands
ready and able to help our Indian sporting partners
realise their own success.
India is already the UK’s 11th largest export market
outside of the EU and accounts for £7.5 billion of existing
investment in the UK. Bilateral trade is valued at more
than £20.5 billion per year and estimates show that the
Indian sports market can become a $10 billion industry by
2026.
This means there is exponential potential for growth in
British sports exports to the region.
Premier League Interim Chief Executive, Richard Masters
said:
The Premier League has worked extremely closely with the
Indian Super League and other organisations for more than
decade to support the growth of football in India.
Earlier this year we brought the first Football
Development Week to Mumbai, in conjunction with the ISL,
the UK Department for International Trade (DIT) and Star
Sports. This provided a great opportunity for our clubs
to share their knowledge with coaches and young players
from across India.
We are supporters of the new UK – India Sports Alliance
and look forward to developing existing relationships in
India and identifying new ones.
Representatives from Indian commercial giant, Reliance
Industries believe there is great potential for British
companies looking to export sporting goods to India.
Chief Executive Officer of Reliance Sports, Sundar Raman
said:
Reliance Sports has had strong connections with the UK
since inception – particularly the partnership between
the Indian Super League and the Premier League, which was
renewed again earlier this year.
I am delighted to be a part of the India-UK Sports
Alliance organised by the UK’s Department for
International Trade. It will help to broaden the scope of
our relationships in the UK with both the wider sports
sector and policymakers.
This is an exciting time of exponential growth in India’s
sports sector, and I am pleased that the UK government
and businesses are engaging with us to strengthen
bilateral trading relationships.
