Early exit may prove financially disastrous
About 40% of Rs 12,000 cr riding on India may get wiped out if team makes early exit, writes V Ganesh.Updated: Mar 19, 2007, 10:47 IST
Amol Dalvi is in a dangerous mood. The 28-year-old from the Mumbai suburb of Malad threatens to switch off his television the day India is knocked out of the World Cup.
Surely, he is not alone.
The prospect of Team India's early exit from the World Cup contest is giving the jitters to sponsors and endorsers of brands, restaurant and pub owners. About 40 per cent of the Rs 12,000 crore that rides on the Indian cricket team in the World Cup — an estimate obtained from officials across firms like Samsung, LG, Cinemax and Coca-Cola, all of whom have invested heavily — could get wiped out if the team does not reach the final rounds.
Restaurant owner AD Singh says people will spend less if India lose early. "India's early exit will impact not only the sales of colour television sets, but also the larger economy," says Ashok Maheshwari, MD, Magnet, a retail chain.
(Inputs by Lalatendu Mishra)