Chinese companies are “not just making inroads into various Indian businesses, they are slowly beginning to gain control of one of the biggest religions of Indians — cricket,” according to Gaurav Laghate of the ECONOMIC TIMES.
Be it the title sponsorship of the “cash-rich” Indian Premier League, or the “most premium” and oldest sponsorship rights of the Indian cricket team, the Chinese have “captured all the major sponsorships of Indian cricket.” Baseline Ventures Managing Dir Tuhin Mishra said, “The Chinese are controlling India as well as world cricket today. Obviously India and the Asian sub-continent is a very big market for them, which is why they are seeing big value and are investing top dollar on advertising and promotions.”
PayTM, which has Chinese e-commerce firm Alibaba as its largest shareholder, “owns title sponsorship of all cricket tournaments being played in India.” Brand expert Harish Bijoor said, “First it was telecom, now cricket. You will see on investment fronts that the Chinese are taking big bets in India, both at the back and front end.
Whether we love them, hate them, the fact is we are sleeping with them.” IPG Mediabrands India CEO Shashi Sinha said that American, Korean and Japanese companies have “had an early start in India and have built their brand and Chinese are just playing catch-up.”
Sinha: “This is not about controlling the sport or market; it is about building credibility in India”