The 18-year-old rising tennis player, who won the boys' doubles title with Vietnamese partner Nam Hoang Ly in July, is the first tennis player to be supported under the SEP, which currently backs 39 athletes over five disciplines - athletics, judo, wrestling, boxing and swimming - said a media release today.
Nagal became only the sixth Indian to win a Junior Grand Slam title when he bagged the doubles crown with partner Nam Hoang.
Earlier in January, Nagal had reached the third round of the Australian Open Junior event before making it to the second round of the French Open Junior.
Ranked 52nd in the ITF Juniors, he currently trains in Germany and is coached by Argentine, Mariano Delfino.
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A thankful Nagal said that the backing he has received came at a very crucial time in his young career.
"This support ensures that I can completely focus on my tennis. All that I need to think about now is how to be a better player on the court," he said.
Discovered by multiple Grand Slam doubles titlist Mahesh Bhupathi, the player had spent his formative years training at Bhupathi's academy in Bangalore.
"Sumit is a very exciting player and someone who is very hungry to succeed on the big stage. He is very sincere and I am sure that JSW's support will motivate him towards aiming for bigger honours," said Bhupathi.