India has set up an annual government award for companies which promote sports in the medal-starved nation, domestic media reported on Thursday."The awards have been devised to honor those who have been promoting sport financially or nurturing budding talent," senior sports ministry official Injeti Sriniwas told Hindustan Times.
It would be among the sports prizes given by the country's president every year with companies spending 50 million rupees ($1 million) or more annually on sports promotion eligible to apply.
The move comes as India bids to stage the 2010 Commonwealth Games in New Delhi. Indian companies heavily sponsor cricket and most of the other sports are forced to rely on government funds.
Source: This news is from a leading English Daily Hindustan Times...
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