Goyal urges sportspersons to exercise caution while endorsing products

And then those stars or those sportspersons have also got into trouble because of misleading advertising or not having proper disclosures or caveats when they market a product or endorse a product or when they are working as social media influencers, Goyal said.

Commerce and Industry Minister Piyush Goyal on Tuesday urged sportspersons to exercise caution while endorsing products, warning that misleading promotions can deceive consumers. In March 2023, the Department of Consumer Affairs released a set of guidelines called 'Endorsements Know-hows!' for celebrities, influencers, and virtual influencers on social media platforms. The objective was to ensure that individuals do not mislead their audiences when endorsing products or services, and that they are in compliance with the Consumer Protection Act and any associated rules or guidelines. ''Since we are talking about sports and we are talking about sportspersons, one important thing we should all take care of is that what we endorse should be done carefully. ''Of late, a lot of misleading and mischievous advertising has been happening, particularly on nutrition and protein supplements or misguiding consumers. And then those stars or those sportspersons have also got into trouble because of misleading advertising or not having proper disclosures or caveats when they market a product or endorse a product or when they are working as social media influencers,'' Goyal said. He was speaking at the World Intellectual Property Day celebrations here. During the function, the minister felicitated members of the Jammu and Kashmir cricket team, which won the Ranji Trophy for the first time in more than six decades. ''I would like all of you to be cautious when you are a social media influencer, or a brand ambassador, or endorsing something. Please always maintain caution so that it doesn't cause you any difficulty later on,'' he said. The cricket team presented the GI-tagged Willow Bat as a warm gesture. The bat reflects rich craftsmanship and the spirit of cricket. Goyal also highlighted the significant growth in the valuation of franchise-based cricket teams over the past 18 years, reflecting the transformational journey of sports driven by innovation and commercialisation. ''IPL teams have seen an increase in valuation from just about a few hundred crores when they were first bid out to now at an aggregate of about Rs 14,000-15,000 crores each team in a span of 18 years,'' he said, adding that IPL may compete in value with EPL in the next few years.