#1 Cricket
No prizes for guessing this one correctly! The heart, blood and soul of the Indian sporting scene, it is impossible to imagine an Indian Olympics without cricket. Across the formats, India is a force to be reckoned with and while the World Cup is the ultimate crowning glory, the Champions Trophy might be replaced by an Olympic event.
A T20 format event is under consideration even for the Paris Olympics Games which definitely comes as a surprise given France's relative anonymity in Cricket at the highest level.
A limited over event in India definitely plays into India's chances of winning the whole thing especially given how it turned out the last time around (cue:2011 World Cup). The whole nation behind the team for the glory at home soil may be the boost the Games require after all.
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