Coronavirus: FICCI urges government to lend support to sports sector

Impact of coronavirus has a deep impact on different working sectors but most of all sports. While other sectors are also adversely affected, sports has been one of the most affected with all the events getting canceled and players are left due with the cancelation charges if they refuse to attend.

Indian Premier League is also postponed and given the current circumstance, the picture of it taking place from mid April seems far-fetched. IPL brings in a lot of revenue to the nation and if this event does not take place, it will certainly be a huge blow for the country.

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FICCI has released a report that quantifies the impact of coronavirus on different industries in India and sports is one of the major sectors to be affected by it. The report points out that the Indian Sports sector has suffered substantially due to the inevitable impact of the coronavirus. Event cancellations raise a host of practical considerations, such as potential refunds, exchanges etc., particularly in relation to interested parties like sponsors, broadcasters, and ticket holders who may have committed significant money to events now subject to cancellation due to the coronavirus.

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A lot of leagues have been affected by it and especially when it comes to the sponsors, governing bodies, athletes, manufacturers and broadcasters have been the most affected. Take IPL for example, valued at INR 514 billion in 2019 will see a value erosion of INR 15,124-26,467 million if the BCCI goes in for a truncated tourney with empty galleries and INR 52935-75,622 million if the season is cancelled.

Apart from commercial activities, fitness also comprises the general public. Stepping out is a risk at this point and physical inactivity will be cause of concern for a lot of patients which are advised for some or the other physical work out and other fitness enthusiasts.