They are to provide multi-platform coverage of the Games, and ensure free-to-air television coverage across the region.

The deal will mean that the organisation will provide coverage in Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.

India’s huge market is a major draw for sponsors and advertisers.

"As a dynamic sports and media market, this is an important strategic region for Olympic broadcasting, and this new media rights agreement will help us inspire fans and young people across these countries to engage with Olympic sports and the Olympic values," said International Olympic Committee President Thomas Bach.

"Fans across India and the subcontinent will be able to witness the magic of the Olympic Games through this partnership with Viacom18."

Viacom18 Media Private Limited was founded in 2007 and is an Indian media and entertainment joint venture between TV18 and Paramount Global based in Mumbai.

It owns various channels, as well as content production studios in India.

"The Olympic Movement is getting stronger in India, buoyed by tremendous medal-winning performances by Indian athletes and their inspiring stories, a growing sporting culture and an exponentially increased access to top-level content for millions of Indian sporting fans on their devices," said Viacom18 Sports chief executive Anil Jayaraj.

"We are delighted that we can present live Olympics content to each and every Indian through our multiple platforms, and are proud to showcase the ultimate pursuit of sporting excellence all athletes embark upon to achieve the peak of sporting glory at Paris 2024."

The company had signed a deal with the National Basketball Association (NBA) in order to deliver live NBA games to all of their own networks.

The deal also gives Viacom18 non-exclusive rights for the 2024 Winter Youth Olympic Games, due to be held in Gangwon in South Korea.

In 2019, Sony Pictures Networks India (SPN) had won the broadcast rights in India and the subcontinent for Tokyo 2020, which were held a year later than planned due to the COVID-19 pandemic. 

SPN, owned by Sony Corp, were awarded the rights across all media platforms and also broadcast the Winter Youth Olympic Games in Lausanne in 2020.

The 2018 Winter Olympic Games in Pyeongchang were not broadcast on television channels in India and were only available on the IOC’s own Olympic channel and digital platforms.

In 2013, Star India had acquired exclusive rights in India and the Asian subcontinent for Sochi 2014 and Rio 2016, as well as the Summer Youth Olympic Games in Nanjing in 2014.

For London 2012, Indian public broadcaster Doordarshan had rights through an IOC deal with the Asia-Pacific Broadcasting Union, while ESPN Star Sports held pay-television rights.