The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a scheme with an outlay of Rs 1,856 crore over eight years to boost sports goods manufacturing, a move that could strengthen the sector in Punjab’s Jalandhar and Ludhiana, as well as Meerut in Uttar Pradesh and Jammu.
The scheme provides for the establishment of four integrated sports goods manufacturing zones, each spread over 300 acres, and 20 per cent capital expenditure (CAPEX) support for anchor investors investing more than Rs 100 crore.
Manufacturers investing Rs 10 crore or more will be eligible for turnover-linked incentives of up to 15 per cent.
The scheme will cover 70 per cent of the cost of first-time certification and 50 per cent of renewal costs. It will also support centres of excellence in sports.
The scheme is expected to boost the micro, small and medium enterprises (MSME) sector, which currently leads sports goods manufacturing in India.
