By IANS,
New Delhi : The 12-day Commonwealth Games opening Sunday would spur India’s economic growth by around $4,940 million in the next four years and create close to 24.7 lakh jobs, says the Games Organising Committee.
“It is estimated that the Commonwealth Games 2010 would result in an overall economic impact of approximately USD 4,940 million on India over the period of 2008-12,” said a Committee document.
The figure is almost three times the economic impact the 2006 Melbourne Games had on Australia’s gross domestic product (GDP), the document added.
It said the 2002 Manchester Games had created an impact of nearly $3,400 million in Britain, while the Melbourne Games had an impact of $1,600 million on Australia’s GDP.
The document estimated that the Oct 3-12 international sporting event is also expected to create an “enormous employment opportunity” of around 24.7 lakh jobs.
The document also talked of positive impact on country’s social sector.
“The social and environmental impact of the Games will be highly laudable as they are bound to encourage improved standards of education to children, boost sports activities, create a better quality of life and experience for citizens, increase international recognition and create environmental consciousness among the community,” it said.
The Committee has set up a Commonwealth Business Club India (CBCI) in association with Federation of Indian Chambers of Commerce and Industry (FICCI) to encourage and support Indian business community’s involvement in the marketing and promotion of Indian sports.
“Its aim is to raise sports sponsorship and market India as a preferred business partner and destination across the Commonwealth,” the document said.