With the Union Budget set to be announced tomorrow, expectations are running high across industries.
Ahead of the Union Budget, True Soop held a special conversation with Maneesh Kohli, Director of Sporting Syndicate Pvt. Ltd. and Co-Founder of Synco, one of India’s leading sports equipment brands known globally for innovation and quality.
Talking from Jalandhar, a name that is recognized globally as a hub for sports goods manufacturing, the industrialist has shared the important expectations from the upcoming budget.
Talking about the concerns he has with the current policy structure, he said, “The sports industry as a whole is still not given importance in India, and it hardly ever finds a place in the government’s priority list. The MSME sector, which is a huge employment generator, also doesn’t get the importance it deserves. Although some good initiatives were taken in the past, like the MSME courts at the district level, but these were not continued.”
On what the government can do specifically for Jalandhar’s sports manufacturing industry, he suggested the creation of a Special Economic Zone (SEZ) dedicated to sports goods. Drawing a comparison with neighbouring Pakistan, he said their sports industry is valued at over ₹5,000 crore and benefits from stronger infrastructure support. “In terms of market value, we are almost at par, but we are clearly lagging when it comes to infrastructure,” he remarked.
Addressing the budgetary focus on sports manufacturing, the Synco founder said the sector remains a negligible contributor to GDP in policy terms, and continues to be overshadowed by other industries.
“Sports manufacturing still does not receive its due attention in the Union Budget,” he further added.
Pointing out the requirements of tangible financial support, he said that tax exemptions, loan facilitations, subsidies, and export incentives would be the most important factors for small and medium-scale sports manufacturers. Talking about a recent NITI Aayog conclave, he said that Indian sports brands are facing tough competition from international giants such as Adidas and Nike in the export sector. The earlier government incentives had helped Indian sports manufacturers cut down their costs and compete with countries like China and Vietnam, but most of these incentives have been rolled back.
“If the government again introduces export incentives or brand development schemes, it would be a major boost for Indian sports brands in the international arena,” he said.
