The company owned by the Cassidy Brothers and has former Coventry City CEO Paul Fletcher as a Director, have got the contract to build the £33m stadium which can convert into an indoor arena within six minutes.
"This will be the first one in the world for StadiArena," said Paul Fletcher to the CT.
"I had anticipated that the first one would be in the UK but with the credit crunch, there is no money to fund it But India has the fastest growing economy in the world."
The stadium is to be used for a number of sporting events including Hockey, cricket and football.