Pursuing India’s Economic Agenda through Development of Golf
Story published at 16:46, Tuesday, February 10th, 2015
With a view to unlock the economic and employment potential through development of golf courses and promotion of golf travel and tourism, experts from different sectors came together under the umbrella of Indian Golf Industry Association (IGIA). The occasion was a curtain raiser for 4th Annual India Golf Expo; arguably India’s largest meeting ground for the business of golf.
Speaking on the occasion, Mr Aakash Ohri, Director DLF and President IGIA said, “Golf industry with its multifarious interests is aligning itself with the economic agenda of the Government. Mega investments in Golf real estate are underway or are lined up which will provide a springboard for several sectors of economy.”
“The centre of economic gravity is shifting towards Asia. India is poised to emerge as a major growth driver for world economy with inflow of large number of expatriates, a trend that is already visible. States and destinations seeking to attract large scale investments from European, American, Japanese and Korean companies and also into real estate and tourism can see a huge advantage if they offer golf which is a favourite pastime of expatriate executives”, said Mr Getamber Anand, President elect, CREDAI (Confederation of Real Estate Developers Associations of India)
Experts also quoted Prime Minister Narendra Modi, who recently stated, ““When my administration wanted the Japanese investment in Gujarat, they were told that the Japanese won’t come without a golf course. So, the government decided to create a golf course”
IGIA with its members drawn from real estate, travel & tourism and urban development is a non-profit industry association with the aim to build and promote the Indian Golf Industry. As an ally of Indian Golf Union (IGU), IGIA will undertake golf related research each year and disseminate the same to Govt agencies and media.
“Golf has multiplier spin-off effect for the economy. Thailand and Malaysia as well as Middle East generated around US$100 million in revenues last year from Golf Tourism–India has potential to grow to this level especially during mild winter months. Golf can contribute to Greening India campaign of the Govt. Degraded forest land, abandoned mines and quarries can be converted into golf courses and earn revenues for the state. Golf industry entails huge employment potential as well. Each golf course and resort generates employment for 200-500 people directly”, added Wg. Cdr. Arun K. Singh, Director General, Indian Golf Union.
Around 20 smaller golf projects are already underway in India with total investments between Rs 600-1000 crore. Another 20 large projects which are likely to be created in the next five years will see an investments of Rs 5000-10000 crore into golf projects as a standard 200 to 300 acre golf course entails an investment ranging between Rs 200-500 crore depending on the location and size.
However, this is still a fraction of the size of the golf course industry in Malaysia, Thailand, Indonesia and of course China which is building significant golf infrastructure concomitant with its economic development.
“India Golf Expo 2015 is India’s largest and most comprehensive gathering for the business of golf. The event will bring the best of minds from across sectors on one platform. The two day exposition to be held from April 15-16, 2015 at DLF Club 5, Gurgaon will comprise a symposium, IGU turf care seminar, NGAI’s instructor’s coaching conference and an exhibition”, said Mr Rishi Narain, former Asian Games gold medallist golfer and organizer of the 4th Annual India Golf Expo for the Indian Golf Industry Association.
India Golf Expo www.indiagolfexpo.com