Sporting industries, A huge wave hit of the novel coronavirus has plundered India’s as well as the world’s economy. With Premier League, Bundesliga, Olympics, IPL, and all other major sporting events being canceled, the sporting fraternities and manufacturers are worst hit by this virus. The approximate evaluation of the sports manufacturing industry in India was around Rs 2000 Cr. This industry is facing a loss of Rs 2 Cr to 3 Cr every day. The major hubs in our country that contribute to the majority of sport good production are Jalandhar and Uttar Pradesh’s Meerut.
These factories almost produce around 400 sports goods in India. This industry has gainfully employed nearly 5,00,000 people in the factories. The people in this industry are expected to lose their jobs in the coming months. With no major sporting event happening during their peak months the sporting industry is thus going to be having a hard year. no potential exporting happening between the countries and produced goods being stuck on Bombay ports and Delhi there is no incoming revenue from the international market. The sporting business will be down for a while. With a lot a labourers losing their jobs and factories closing down due to the lack of demand. Losses and budget cuts are expected in the coming months for this industry.
Sporting industries troubles, Rajan Kohli, the managing director of TK Sports, renowned for Hockey, IPL jerseys for Kings XI Punjab, T-20 matches, and Shrey Helmets for Cricket, said that no doubt business would go down but as of now, the concern is that Covid-19 comes under control. “The central government led by Prime Minister Narendra Modi was taking the best decisions to counter the pandemic. Business will come and go but right now we should support our country,” he said. This industry is mostly labor- based on its works working hard and yet this is the most impacted industry among the other industries.