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Despite growing sports popularity, India's sports goods manufacturing sector remains underdeveloped.
India contributes a mere 0.5% to the global sports goods manufacturing output.
Developing this sector offers significant potential for economic growth, job creation, and export diversification.
It aligns with national initiatives like 'Make in India' and 'Atmanirbhar Bharat'.
Directly supports the objective of promoting domestic manufacturing and reducing import dependence across various sectors, including sports goods.
Aims for self-reliance in key economic sectors, making the growth of indigenous sports goods manufacturing a strategic priority.
Many sports goods manufacturers operate as Micro, Small, and Medium Enterprises, making them beneficiaries of policies aimed at strengthening MSMEs.
A thriving sports goods manufacturing sector can significantly boost India's exports, contributing to foreign exchange earnings and global trade presence.
To boost domestic manufacturing and make India a global manufacturing hub.
Key: Provides incentives on incremental sales from products manufactured in India across various identified sectors, which could potentially be extended or adapted for the sports goods sector.
To increase the manufacturing sector's share in the country's GDP to 25% and create 100 million additional jobs by 2022 (original target).
Key: Aims to promote manufacturing through various measures, including skill development, infrastructure creation, and technology upgradation.
To simplify regulations and processes for businesses in India.
Key: Reduces compliance burden, streamlines approvals, and improves the overall business environment, benefiting manufacturers including those in sports goods.
GS Paper 3: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Government Budgeting. Industrial policy.
General Awareness: Indian Economy, Government Schemes.
General/Financial Awareness: Economic news, government policies, industrial growth.
General Awareness: Indian Economy, Industries.
General Knowledge: Current Affairs, Indian Economy.
Which of the following are associated with 'Planning' in India? 1. The Finance Commission 2. The National Development Council 3. The Union Ministry of Rural Development 4. The Union Ministry of Urban Development 5. The Parliament Select the correct answer using the code given below.
Answer: 2 and 5 only
With reference to 'Stand Up India Scheme', which of the following statements is/are correct? 1. Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. 2. It provides for refinance through SIDBI. Select the correct answer using the code given below.
Answer: Both 1 and 2
The main objective of the 12th Five-Year Plan is
Answer: faster, sustainable and more inclusive growth
Manufacturing and sector-specific economic potential are recurring themes in the Indian Economy section of competitive exams.
The economic activities related to sports, including manufacturing, services, media, and infrastructure.
The part of the economy involved in producing goods from raw materials or components.
A vision to make India a self-reliant nation across various economic sectors.