Advertisers and sponsors are a worried lot over the early exit of India from the World Cup. However, there is some positive news on the economy front on account of Team India`s early exit. Here`s how our cricketers have helped the Indian economy.
Statistics show that there are about 80 million cable and satellite viewing homes in our country. The average viewership of all the World Cup matches currently stands at about 3 per cent, with the India-Bangladesh encounter touching a 7.25 per cent. India would have played a minimum of seven matches to reach the finals. At least 5.8 million people would have watched the matches, resulting in a productivity loss of 371.2 million man hours (5.8 million x 8 hours x 8 matches). In addition, there are other stress-resulted issues such as preparing for examinations for the students in due to take their public exams coming in April.
Nearly 3% of 80 million TV viewers (2.4 million) are ardent cricket fans and they would have watched (entire 8 hours) the remaining 28 matches. Team India`s exit has resulted in a productivity gain of 481 million man hours of work.
Are there any other benefits? Yes. Let’s take the earning figures of a skilled labourer in the Capital. He earns Rs 136 per day (Rs 17x 8 hours). If the man hours are put to productive use, then 481 million man hours can reap in Rs 817 crore of GDP. This amount is 401% more than the Rs 163-crore loss corporates are likely to lose on account of India’s exit.
State Electricity Boards also stand to gain. A television consumes 45 watts per hour. If a viewer does not watch the matches after 12 midnight, it will save 135 watts per viewer. This will enable the electricity boards to save 3.24 lakh kilowatts of electricity. If viewers completely switch off their televisions for eight hours, the State Electricity Boards can save at least 8.64 lakh kilowatts. Already, the State Electricity Boards are witnessing hefty losses. Truly, a loss from one side is being offset through other avenues.