He highlighted the substantial increase in the valuation of IPL teams, which have escalated from a few hundred crores each to an aggregate value of nearly Rs. 15,000 crores in under twenty years of the league’s establishment. The Minister suggested that unregistered leagues need to register as trademarks, similar to the IPL, to secure media rights and maximize value from the franchise.
During his speech at World IP Day celebrations in Vanijya Bhawan, New Delhi, he mentioned that T-20 cricket represented an innovation, and innovations such as T-10 and gully cricket could also be eligible for copyright protection.
He emphasized the importance of enhancing parks with features like open gyms, supported by funds designated for CSR (Corporate Social Responsibility) initiatives in Public Sector Undertakings (PSUs).
Goyal urged for the rapid development of sports goods manufacturing clusters, pointing out Jalandhar and Meerut as existing hubs in need of growth. He stressed the necessity of establishing manufacturing centers for supportive equipment for athletes, citing examples of devices designed to enhance bowling speed during batting practice.
The Minister advised athletes to refrain from endorsing products without thorough investigation, warning that deceptive advertising related to nutrition and protein supplements has led to reputational and legal challenges for many sports figures.
