Top corporates and PSUs invest in Indian athletes for Paris Olympics 2024: Report

Paris Olympics 2024

Other than contributing to the country's GDP, large Indian companies and top PSUs are also investing in the training and preparation of Indian athletes for the Paris Olympics, The Economic Times has reported.

JSW, Reliance Industries, Adani Group, Tata Steel, and PSUs like NTPC & NMDC, have invested hundreds of crores for the development of  Indian athletes participating in the ongoing Paris Olympics, the report added.

Moneycontrol couldn't independently verify the report.

As per industry experts quoted in the report, the Paris Olympics have seen a 30-40 percent increase in investment from some of the top Indian corporates, as compared to the previous years.

JSW Sports' operational investment is Rs 300 crore through this (Paris) Olympic cycle, said its chief operating officer Divyanshu Singh to ET.

“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," Singh added.

The company has spent around Rs 150 crore as capital investment, towards building sports infrastructure, Singh further added.

JSW partners 41 athletes for the Paris Olympics and has trained, supported and managed more than a third of India's contingent this year, the report added.

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Reliance Foundation has 10 athletes competing at the Paris Olympics, and two competing at the Paris Paralympics. Of these 12 athletes, eight are women, a spokesperson told ET.

The women’s archery contingent is a product of the Tata Archery Academy, including current cadets Ankita Bhakat, Bhajan Kaur and Deepika Kumari, Chanakya Chaudhary, vice-president, corporate services, Tata Steel said. The company’s spends almost Rs 75 crore on sports annually, the report added.

Adani Group is the principal sponsor of Paris Olympics 2024. The conglomerate has made significant investments in training of sportspersons, the report further added.

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