The Associated Body of Indian Commerce and Trade (FICCI) has voiced its backing for the proposal to decriminalize sports wagering in India, as suggested by a panel led by Justice R.M Lodha. FICCI has championed legalization since 2012, contending that it would generate substantial income that could be utilized to enhance sports facilities and tourism within the nation. They cite similarities to other countries where controlled betting contributes to public benefit programs and the advancement of athletics. Nevertheless, FICCI emphasizes the significance of conferring with stakeholders within the realm of sports before any legislation is formulated.
This suggestion arises following notable controversies, such as the 2015 ban of two prominent cricket team proprietors for illicit gambling, underscoring how the existing clandestine betting environment facilitates corruption. The aspiration is that a lawful and regulated structure would curtail such problems while offering a fresh avenue for income creation.
