There are also the bursts of expectations being seen from the herds of middlemen and brokers, who are waiting to seize this galactic opportunity with both hands. This is quite expected (Vijay Malhotra, VP, Indian Olympic Association, calls CWG 2010 a ‘middleman’s delight’). Be it your friendly neighbourhood restaurant-man or the super-flying travel-man, their lot is celebrating already with FICCI predicting residents of the National Capital Region to spend a staggering $2 billion! According to Assocham, the event will create job opportunities for approximately 50,000 skilled professionals, with around 70 new hotels likely to be commissioned over the next three years. Beat this, to outrun the rest, the first two weeks of this year alone saw the emergence of five new recruitment agencies. Large unused or underdeveloped spaces of lands are also being given out to builders in the name of renovations. One key example of such a case is the Rs.700 crore being given out to middlemen for allotment to spruce-up prime areas in Connaught Place like Palika Bazaar. When 4Ps B&M contacted authorities in the Palika Bazar Shopkeepers Welfare Association, they claimed no such monetary allocation has been done yet. One such official is Vinay Kumar, General Secy. of Palika Bazar Shopkeepers Welfare Association who claims that, “We have just got clear instructions to renovate and improve the market, but till date, we have not received any funds from the government.”
But for each non-positive voice, there are ten encouraging comments too. And then there are businessmen who are contemplating to maximise their revenues indirectly, one such being Subhinder Singh Prem, MD of Reebok India Ltd. “We do have big plans with the Commonwealth Games, and we are looking forward to selling merchandise which would highlight the theme of the Games,” announces Prem. Reebok is planning to roll-out merchandise and accessories in a tie-up with the CWG 2010. Reebok is not an exception though, with Nike too eyeing opportunities to flash around Shera, the mascot of CWG 2010 on its products (for the record, Shera was designed by Pralay Kumar Mukherjee, and as per sources, the mascot rights are being sold at an incredible Rs.1 crore). However, the glitch here is that in order to win the contract, both companies will have to shell out huge sums to the organisers!
While there are concerns over the geographical location of the Commonwealth Games village spread over an area of 118 acre, the bigger concern for the moment is the lack of sponsors. Yes, you read that right! As true as it is that this is arguably the biggest event for the National Capital Region after the 1982 Asian Games, it is an inarguably bigger truth that brand India, which the CWG 2010 represents, is falling short of sponsorship cheques despite the main event being just eight months away! As far as numbers go, to date, the CWG 2010 has only four official partners, which include Hero Honda, NTPC, Air-India and Central Bank. What is holding brand India back?
But for each non-positive voice, there are ten encouraging comments too. And then there are businessmen who are contemplating to maximise their revenues indirectly, one such being Subhinder Singh Prem, MD of Reebok India Ltd. “We do have big plans with the Commonwealth Games, and we are looking forward to selling merchandise which would highlight the theme of the Games,” announces Prem. Reebok is planning to roll-out merchandise and accessories in a tie-up with the CWG 2010. Reebok is not an exception though, with Nike too eyeing opportunities to flash around Shera, the mascot of CWG 2010 on its products (for the record, Shera was designed by Pralay Kumar Mukherjee, and as per sources, the mascot rights are being sold at an incredible Rs.1 crore). However, the glitch here is that in order to win the contract, both companies will have to shell out huge sums to the organisers!
While there are concerns over the geographical location of the Commonwealth Games village spread over an area of 118 acre, the bigger concern for the moment is the lack of sponsors. Yes, you read that right! As true as it is that this is arguably the biggest event for the National Capital Region after the 1982 Asian Games, it is an inarguably bigger truth that brand India, which the CWG 2010 represents, is falling short of sponsorship cheques despite the main event being just eight months away! As far as numbers go, to date, the CWG 2010 has only four official partners, which include Hero Honda, NTPC, Air-India and Central Bank. What is holding brand India back?
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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