Nike, Asics, Decathlon ramp up India bets as sports goods, apparel manufacturing expected to reach $10 billion by 2030
India’s sports industry is estimated to be worth $19 billion and is projected to grow at a compound annual growth rate (CAGR) of 12-14% to reach $40 billion by 2030, and the sports goods, equipment and apparel manufacturing segment is valued at $6.7 billion and is expected to expand to $10 billion by the end of 2030, according to KPMG India, as rising participation in running and fitness, growing demand for performance footwear and investments by global sportswear brands reshape the market, according to a report by KPMG India.
Global sportswear companies, including Nike and ASICS, are stepping up efforts to tap the opportunity through India-specific products, retail expansion, marathon partnerships and running communities. Decathlon, meanwhile, is expanding its domestic manufacturing capabilities and expects its running business in India to double over the next four years.
The growth outlook comes amid increasing participation in recreational running, with India hosting around 2,000 running events in 2025, compared with 500-600 in 2018, according to Decathlon Sports India CEO Sankar Chatterjee.
Nike unveiled its first running shoe designed specifically for India on October 28, marking a push to attract consumers in a market where running and fitness are gaining popularity.
The shoe, called Vegam Run, is scheduled to launch on Indian e-commerce platform Flipkart on November 1 at a price of ₹3,795, or around $40. Nike said the product was developed in approximately five months.
The launch follows the company's announcement earlier in October that it plans to open a new campus in India. The initiatives reflect Nike's efforts to strengthen its presence in the country as it seeks growth opportunities amid persistent weakness in other major markets.
The company's expansion push comes as it faces pressure in China, which accounts for approximately 15% of its annual revenue. Sales in the country have declined for nine consecutive quarters as international competitors and domestic sportswear brands gain ground.
Nike shares have fallen more than 40% so far in 2026. However, its global running business has been a bright spot, recording double-digit growth for six consecutive quarters.
Chief executive Elliott Hill told analysts this month that Nike's performance business was not yet large enough to offset pressure on its sportswear, Jordan brand and Greater China operations. The company has also projected a steeper-than-expected decline in full-year revenue.
For Nike, India offers an opportunity to build a more locally relevant product portfolio while developing a stronger connection with consumers taking up running and other fitness activities.
Japanese sportswear maker ASICS is also seeking to expand its share of India's performance footwear market, targeting annual growth of as much as 35% over five years, according to a Bloomberg report published in February 2026.
Rajat Khurana, managing director of ASICS India, said the company aims to become India's leading seller of premium running shoes by 2029. ASICS was then the third-largest player in the country's high-end running segment, he said.
The company has forecast a nearly 30% increase in its Indian sales for 2025 to around 12 billion yen, or approximately $76 million. It operated 138 stores in India and planned to add as many as 20 outlets during the year, including through franchise partners. Its same-store sales grew 15% in the previous year, according to Khurana.
ASICS products in India are priced between ₹3,999 and ₹29,999, placing the brand in the premium performance footwear segment.
The company is also seeking to increase local manufacturing. Around 30% of its shoes were being manufactured in India, with a target of raising domestic production to 40% of sales within three years, Khurana told Bloomberg.
Running events are an important part of its India strategy. ASICS said its shoes accounted for nearly one-third of participants at the 2025 Tata Mumbai Marathon, according to a company presentation cited by Bloomberg.
On October 13, ASICS announced a partnership with the Freshworks Chennai Marathon as its official sports goods partner and launched its ASICS Running Club in Chennai.
The marathon's 15th edition is scheduled for January 3, 2027, featuring a full marathon, a 20-mile race, a half marathon and a 10K event. The partnership will include training sessions, promotional runs, an expo and other activities designed to connect the brand with runners.
Khurana said the initiatives would help ASICS deepen its presence in Chennai and support runners through regular training and community engagement.
The company's strategy highlights how sportswear brands are looking beyond footwear sales to build relationships with consumers through organised running groups, coaching and large-scale sporting events.
Decathlon Sports India is also targeting growth in the running segment, with the company expecting the category to generate more than ₹1,000 crore in revenue over the next four years.
Chatterjee said in September that Decathlon's running business was generating slightly less than ₹500 crore and that the company aimed to double its size over the next four years.
The French sporting goods retailer reported revenue of ₹4,133.10 crore in FY25. It currently operates 132 stores in India and is targeting 200 by 2030.
Decathlon is investing €100 million in building and strengthening its manufacturing ecosystem in India. Footwear is a key focus area, with Chatterjee saying that 50% of the footwear sold by quantity in its Indian stores this year was made domestically.
The company is also investing in technology and talent, including product managers and engineers, to strengthen its manufacturing capabilities.
Decathlon has launched its specialist running sub-brand KIPRUN in India, introducing 35 products, including 17 high-performance running shoes. The collection covers different running needs, from everyday training and long-distance comfort to race-day performance and mixed-terrain running.
Products include the KIPRUN Elite, designed for marathon performance; the carbon-plated KIPSTORM ELITE 2, aimed at experienced runners; and the cushioned KIPRIDE MAX range for runners prioritising comfort over longer distances.
The company said the range would be available at select Decathlon stores and on its Indian website.
Chatterjee also said Decathlon was monitoring the potential impact of the proposed India-European Union free trade agreement on domestic manufacturing, particularly in sporting goods.
The company's expansion plans come as competition in India's sports retail market increases. Chatterjee said the entry of more players reflected the expanding market rather than necessarily posing a threat to existing retailers.
The expansion plans of Nike, ASICS and Decathlon coincide with a broader increase in participation in recreational running and demand for specialised sports products.
According to Chatterjee, India hosted around 2,000 running events in 2025, up from approximately 500-600 in 2018. The increase points to a larger ecosystem of organised races, running clubs and fitness communities that can support demand for performance footwear, apparel and accessories.
Market research firm IMARC Group estimated India's running gear market at $2.7 billion in 2026, up from $2.5 billion in 2025. It projects the market to reach $4.9 billion by 2034.
Globally, the athletic footwear market was valued at $130.7 billion in 2025 and is projected to reach $181.7 billion by 2034, according to IMARC Group.
The research firm has identified growing health awareness, greater participation in sports and outdoor activities, urbanisation and the expansion of e-commerce as factors supporting demand for athletic footwear across Asia-Pacific, including India.
For India, the opportunity extends beyond the expansion of retail sales. The manufacturing targets set by brands such as ASICS and Decathlon could also support domestic production capabilities, while demand for specialised products creates opportunities for companies across footwear, apparel and sporting equipment.
KPMG's projection that India's sports goods, equipment and apparel manufacturing sector could reach $10 billion by 2030 places this shift within a broader expansion of the country's sports economy. However, the pace of growth will depend on sustained consumer demand, manufacturing investment and the ability of domestic production to meet the needs of an increasingly diverse sporting market.
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