Sunil Chhetri (Mumbai City FC) became the most paid Indian footballer in the first-ever Indian Super League player auction on Friday, earning Rs. 1.2 crore. Nine other Indian footballers who were auctioned off also received a substantial sum of money.
According to a popular Bollywood film, one must first destroy a person’s thoughts before murdering the person. Yes, it is correct. Simply because they have gotten so comfortable in their comfort zone, it takes a long time to change a human being’s thinking or thought process.
The mere comparison of two people takes away the core of what they have to offer. Individuals or sports should never be compared in terms of their relationships with their loved ones.
Any sport other than cricket needs to struggle for its existence in our nation. When questioned, most individuals will respond that cricket takes precedence over other sports.
Why has cricket grown so popular, in my opinion? What is it about religion that unites our country?
It’s straightforward. Cricket is glamorous in India; it has that one-of-a-kind aspect that can bring the entire country to a halt, and it still has Sachin Tendulkar. The gentleman’s game has generated various legends who have altered the game’s meaning. Other sports have done the same. But, come on, our folks don’t comprehend that the sport is well-known since India is one of the top teams in the world.
The launch of the Indian Super Competition, a high-profile football league, is being billed as a movement that would transform the sport in India.
Football is a sport that has yet to gain popularity in India. To sell any product to customers, organizers must consider fundamental factors like the market, demand, and, most importantly, the product’s long-term viability. India has a sizable market, with a large number of football fans that are enthralled by European football competitions. There is also a demand. Make it attractive and well-marketed, and the event will thrive thanks to the backing of its admirers.
The ISL concept is only two months old, and if all goes according to plan, the competition may begin in September.
So, in order to attract a wider audience, the sport needs to enlist the assistance of other celebrities who can help it become a hit right away. If the tournament is worthwhile, it will undoubtedly continue. And it will undoubtedly assist the motive in the long term.
The league’s eight franchises will be made up of world-class athletes. It will provide our players with a fantastic opportunity to rub shoulders with world-class athletes. With names like Sachin Tendulkar, Saurav Ganguly, Salman Khan, Ranbir Kapoor, and others winning franchise bids, it has taken on a new appearance. Will it, however, appeal to the Indian audience? We’ll have to wait and see.
The profitable star-studded event is a whole entertainment package that incorporates several economic principles like investments, marketing tactics, and IPL for GDP growth, among others. Examine the economic impact that this athletic event has had on India since its commencement.
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Impact Of IPL On Indian Economy
- Significant rise in GDP:- The Indian Premier League has been a huge contributor to India’s GDP. Huge-scale branding, rabid fan support, and a massive global fan base have all contributed to a steady increase in GDP. According to a poll by KPMG, the 60-day tournament brought in INR 11.5 billion (USD 182 million). The BCCI has commissioned KPMG Sports Advisory Group to conduct the poll.
- Boosts Tourism:- Apart from the 32 foreign players, international tourism income has increased dramatically. According to Cox & Kings, one of the most reputable travel agencies, the IPL resulted in a 30 percent boost in travel income. During the season, people from all over the world visit India’s many states and cities. India is ranked 11th in the Asia Pacific region and 34th overall in terms of most appealing tourist locations. The World Economic Forum published a study that included this ranking.
- Generates New Jobs:-The Indian Premier League creates a big number of jobs and efficiently contributes to India’s economic growth. Companies, their stakeholders, sports stars, emerging athletes, and so on all contribute to job creation. IPL generated an economic worth of $3.2 billion, according to a study given to the UN General Assembly for Peace and Development. The market for sports equipment and devices has also grown significantly, reaching 40 billion Indian rupees in value.
- Media Exposure and Viewership:-According to data collected by the Economic Times of India, the T20 tournament in 2019 smashed all previous records in terms of viewership, with 462 million clocks and 338 billion minutes of watch time registered in the 12th edition. The cricket league has received sponsorship from a number of well-known corporations throughout the world, including Coca-Cola, Maruti Suzuki, PhonePe, MRF, and others.
- Cultural Diversity:-During the IPL season, there is a lot of social media fever. During the event, several activities take place as people from all over the world visit India. In the cities hosting the Twenty-over matches, there are several after-parties and festivities. Foreign visitors from Bangladesh, Australia, Canada, Sri Lanka, England, and other nations arrive to take advantage of the festive season.
- Hotel & Restaurant Business:-During the IPL season, there is a rise in travel, lodging, and dining businesses. During the 60-day competition, the number of check-ins grows, and visitors from all over the world enjoy trying out diverse Indian cuisines.
- Increase in Tax Contribution:-BCCI was deemed a benevolent organization before the start of the IPL, hence it was never requested to pay taxes. Since the IPL began, it has been classified as a commercial activity, and BCCI has been forced to pay tax payments, resulting in an increase in government income. Since the beginning of the cricket competition, the BCCI has generated a significant amount of taxes.
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