India, May 1 -- Corporate entities investing in promoting sports and building sporting infrastructure through Corporate Social Responsibility (CSR) funding has seen a spike in recent years, according to data released by the Ministry of Corporate Affairs.

According to the latest data published on its website, 1200 companies spent a combined Rs.526.14 crore in 2022-23 towards promoting sports through CSR investments, nearly double compared to the previous financial year ( Rs.291.75 crore). A decade ago in the 2014-15, that figure was a little over Rs.55 crore.

Earlier this year during a first-of-its-kind corporate roundtable, sports minister Mansukh Mandaviya stressed upon the importance of corporate support in building sports infrastruct...