India Inc diversifies investments from metal to mettle

Beyond contributing to GDP growth, large Indian conglomerates and top PSUs are also bulking up their national ‘sporting capital’ by investing in the ‘journeys’ (trainings and preparations) of Indian athletes to the Paris Olympics. Companies such as JSW, Reliance, Adani and Tata Steel, and others, have generously shelled out hundreds of crores for development of Paris-bound Indian athletes.
State-run companies such as NTPC and NMDC have also been supporting many athletes by investing in the sports they feel closest to. The Paris Olympics have seen a 30-40% increase in investment from some of the top Indian corporates, compared to the previous games, said industry experts. “Through this (Paris) Olympic cycle, our operational investment is `300 crore,” said Divyanshu Singh, chief operating officer, JSW Sports.

“This includes training, exposure camps, rehab and recovery of our athletes at IIS (Inspire Institute of Sport – JSW) and our satellite centres in Himachal, Manipur, Odisha and Hisar.” For JSW, this is about a 40% increase in investment. JSW partners 41 athletes for the Paris Olympics 2024 and has trained, supported and managed more than a third of India’s contingent to Paris. That apart, the company has spent about Rs 150 crore as capital investment, which went towards building sports infrastructure, added Singh. “Reliance Foundation… currently supports over 200 athletes in more than 10 Olympics sports,” a spokesperson said.

The foundation has 10 athletes competing at the Paris Olympics, and two competing at the Paris Paralympics. “Of the 12 athletes who have qualified for the Olympics, eight are women,” the spokesperson said. Meanwhile, the entire women’s archery contingent is a product of the Tata Archery Academy, including current cadets Ankita Bhakat and Bhajan Kaur and Deepika Kumari, said Chanakya Chaudhary, vice-president, corporate services, Tata Steel.

The company’s total spending is approximately Rs 75 crore annually on sports. Adani Group is a principal sponsor of the Paris Olympics and has made significant investments in training of sportspersons. Sports management and travel agency DreamSetGo’s chief executive Monish Shah said, “Close to 20 corporate sponsors have come on board and large corporates are investing in athlete development.”

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