State-of-the-art Multi-sport Arena to open on 7thOctober with Kabaddi World Cup 2016
Mumbai, 5th October 2016: India’s leading urban sports infrastructure company TransStadia has welcomed the move by the Ministry of Youth Affairs & Sports to include Sports in the harmonised master list of infrastructure. By doing so, investment in the sector will be enabled, thus catalyzing the industry growth.
The Sports Industry is regarded as one of the largest industries globally, in terms of employment and revenue. India has the world’s largest youth population and is at the cusp for change. In most developed countries, sports contribute around 2-4% of total employment. In India, sports contribution to the total employment is just .05%. This sector-based recognition will provide plenty of opportunities for employment in India.
Hailing the proposal as a revolutionary one,UditSheth, Founder and Managing Director of TransStadia, said, "This is indeed good news, as infrastructure is going to catalyze this industry in India. Talent is there, appetite is there, but infrastructure is wanting. TransStadia has already set the process in motion by building a state-of-the-art multi-sport urban infrastructure project in Ahmedabad, which will debut with India’s very own sport by hosting the 2016 Kabaddi World Cup."
Mr Sheth added:"The Sports Ministry's proposal will be of immense help to companies in the sports sector to pursue the development of high-quality infrastructure. Companies like TransStadia will now find it easier to obtain better financing options. The revolutionary move from the government will raise the level of investment in sports infrastructure. We await the RBI to notify it now."
The Ministry of Youth Affairs and Sports in a release said that the Ministry of Finance, after a series of meetings and discussions with different agencies, including RBI, have decided that sports infrastructure will be included under the Harmonized Master List of Infrastructure Subsectors and that it willinclude the provision of Sports Stadia, Infrastructure and Academies for training / research in Sports and Sports-related activities. In this connection, the Ministry of Finance, department of Economic Affairs, has issued a Gazette Notification.
A World-Class Urban Infrastructure for Sports & Entertainment, TransStadia is leading the charge from the front and will provide a platform for sports to grow and develop in India.
About TransStadia
“Build it and they will come”
Established in 2008, TransStadia, an integral part of the Setco Group was set up with a belief that India can emerge amongst the global frontrunners in the sports arena.
Leading the charge, TransStadia, devised a viable infrastructure development program that would play an integral part in making sports an industry in India.
TransStadia has partnered with leading experts in the sports business to deliver all associated functionality of a multi-purpose stadium with integrated training and convertible sports infrastructure. The urban sports infrastructure incorporates globally patented technology for flexibility in space utilization and will optimize the usage of non-sporting area for a host of cultural and social activities.
Exclusive licenses for patented ‘T-Box’ and 'StadiArena' technologies allow stand and seating convertibility, thus optimising space utilization from a meagre 2% to a vibrant 70% per annum. These technologies are cost effective, allow modularity and multi-use which in turn catalyse revenues. With a robust urban renewal and city centre model, the business concept and plan make TransStadia the most sought after venues for sports, entertainment, leisure and wellness events for all.
For more, please visit www.transstadia.com