H.E. Mirza Al-Sayegh: 'Indian Horse Racing Industry has vast potential'
Dubbed as the 'sport of kings', horse racing has moved from streets of Babylon to sophisticated racetracks around the world. From a fun loving sport to multibillion dollar industry, horse racing and trading has come a long way. H.E Mirza Al-Sayegh, Director of Finance for HH Sheik Hamdan Bin Rashid Al Maktoum, Deputy Ruler of UAE, talks with Renu Malhotra on the latest trends in horse industry, Edited Excerpts...
Q. What is the global outlook on trading of horses?
When we talk about trading of horses, there are many aspects. Firstly it is Breeding, secondly it is about mating, thirdly it is about Training. When you merge these three factors together, then horse industry can grow well.
Q. Do you see the growth in trading of horses limited to only certain countries and regions? Kindly elaborate.
No, the horse industry is global because the relationship between man and horse has been there for centuries.
Q. Do you see a potential in Indian market when it comes to trading of horses?
Of course, the Indian market is an old industry in horseracing and the market is very vast. Besides the public is fond of racing, together with other sports. So there is great potential in India.
Q. Do you think regulatory hurdles are preventing growth of tading of horses? If so, in which countries?
Each country has a different perspective on horseracing industry and I truly believe that the dialogue between the various jockey clubs around the globe can help in making the industry prosper.
Q. Throw some light on your company's growth story and future outlook?
Shadwell has grown since its inception in 1984. Shk Hamdan's vision in turning the company into a breeding hub for his home bred string has made the company center around for racing and trading of horses.
Q. What kind of R&D set up do you have for breeding of horses?
The home bred horses is a scientific outlook that aims and produces horses on the damside and sireside to the best of the knowledge of the breeders. We are trying to match the best norms and I must say that we are successful in many of the homebreds like Nashwan and Salsabil.
Q. Do you see India's potential in contributing to the pool of horse trainers, breeders, etc.? Kindly elaborate.
Yes, by getting the owners to visit the sale rings in England, USA, Ireland and France to see by themselves the number of yearlings coming to the market every year.
Q. How has branding and sponsorship helped in driving the growth of horse racing industry?
Sponsorship is very important. It is the source of income for the racing industry and its two way traffic. Sponsors need a return on investment and racecourses can benefit from the sponsorship deals. Also the owners can have their horses compete in a safe environment.
Q. What is your take on online betting when it comes to horse racing? Please elaborate.
I don't personally place bets because of my religion. But I know that betting is a worldwide industry.
Q. What can help in further popularising the horse racing and trading?
Getting more people involved in the horseracing and into horse breeding.
Q. How do you see the future of horse racing and breeding in your country and in India?
UAE has started breeding Arab horses and they have formed a new organisation to look after the local Arab breeders. The various racing organisations in UAE are in friendly contact with their counterparts worldwide to discuss racing matters and apply the best rules and regulations applicable worldwide.
