India, Feb. 1 -- India's sports goods manufacturing sector received a boost in the allocation for the Ministry of Youth and Sports Affairs in the union budget presented on Sunday with Rs.500 crore set aside for the first time for the promotion of the industry.

"India has the potential to emerge as a global hub for high quality, affordable sports goods. I propose a dedicated initiative for sports goods that will promote manufacturing, research and innovation in equipment design as well as material sciences," union finance minister Nirmala Sitharaman said while presenting the budget in parliament.

The initiative is expected to promote domestic manufacturing, encourage innovation and strengthen India's presence in the global sports supply ...