Thursday , October 21 2021

VIVO to remain sponsor of IPL, BCCI will not terminate agreement for 440 crores; Treasurer said – Indian economy benefits from Chinese company

The demand for a boycott of Chinese companies in the country has intensified since the India-China dispute, but the Board of Control for Cricket in India (BCCI) does not want to terminate the agreement with Chinese company Vivo (VIVO). It is probably 440 crore rupees every year from VIVO. Smartphone maker Vivo is also the sponsor of the Indian Premier League (IPL).

BCCI Treasurer (Treasurer) Arun Dhumal made it clear on Thursday that the board’s agreement with Vivo is till 2022. Only after this will the sponsorship review. Arun Dhumal’s statement comes at a time when BSNL has decided to ban Chinese products for 4G resource up-gradation. Railways have also said that it will cancel the Rs 471 crore contract for signaling and telecommunications given to the Chinese company.

The Indian Olympic Association (IOA) is also on course to terminate the agreement with Chinese company Li Ning following a clash between Indian and Chinese forces in Galvan. IOA Secretary General Rajiv Mehta said, “We are with the country right now.” The IOA signed this company in May 2018. Under this, the company gives sports kits worth about 5 to 6 crores to Indian athletes.

Dhumal said that through the sponsorship agreement from Vivo, money is coming to India and not going there. We have to understand that there is a big difference between taking care of the advantages of the Chinese company and taking care of the country through the Chinese company.

Dhumal said that BCCI gets a major share of the money that Chinese companies make by selling their products in India in the name of brand promotion. The board pays 42% tax to the central government on that earnings. In such a situation, this agreement is not for China but for the benefit of India.

According to Dhumal, if China’s money is helping Indian cricket, then we have no problem with it. We can also get sponsorship money from non-Chinese or Indian companies. The thinking is that when Chinese companies are being allowed to sell their products in India, then it would be better to return that money to the Indian economy.

Dhumal said, ‘I am personally in favor of reducing the dependence on Chinese goods, but as long as the companies there are allowed to do business in the country, then if any Chinese company sponsors an Indian brand like IPL. , Then there is no harm in him. ‘

Dhumal said, ‘If I had given a contract to a Chinese company to build a cricket stadium in the country, I would have directly helped them. Gujarat Cricket Association built the world’s largest cricket stadium in Motera but gave its contract to an Indian company L&T. Cricket infrastructure is being developed at a cost of thousands of crores in the country, but not a single contract was given to the Chinese company.

Chinese mobile company Oppo was sponsoring Team India till September last year. However, since then, the Bangalore-based app-based education company Byju is sponsoring the Indian team. The agreement that BCCI has signed with Baiju will remain in force from 5 September 2019 to 31 March 2022.

In March 2017, Oppo left behind Vivo and bought the rights to the Team India jersey for 5 years for 768 crores. According to that deal, Oppo had to pay Rs 4.61 crore to the BCCI in a match in the bilateral series, while it had to pay Rs 1.56 crore for every match in the ICC tournament.

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