Boxing is up for a facelift in the country after a tie-up between the Indian Amateur Boxing Federation (IABF) and Mittal Champions Trust Sports Foundation for promotion and development of the sport was announced in New Delhi on Wednesday.

The Mittals have agreed to sponsor 15 boys -- five each from senior, junior and sub-junior category and two foreign coaches, which IABF says will amount to around Rs 80 lakh per annum.

The Federation is also looking at increased exposure of pugilists through more number of foreign trips, assistance of foreign coaches, state-of-the-art kits and hosting international events in the country.

"Boxing has a lot of potential in our country. We believe having more events and big events in India is going to help the sport," Manisha Malhotra, representing the Mittal Champions Trust, said.

"We are ready to help them in whichever way they want -- be it foreign trips, kits or support staff like psychologists," she said.

IABF general secretary Colonel Muralidharan Raja said "there is no time duration for which the Mittals have committed. Also we will not be taking any cash from them."

"We have asked them to pay for the requirements like coaches and foreign trips, kits etc," he said.

"We have started looking for foreign coaches and have already appointed a Turkish coach for the cadet boxers, who are leaving tomorrow for the world championships in Istanbul, Turkey," he said.

"The coach -- Sefa Nar -- is with us for just one month now but we may extend it later," he added.

The cadet boxers are in high spirits after a fine performance in the recent Asian Championships.

"We are sending only seven best candidates who we believe can bring medals, despite being allowed to send 13 members," said Rakesh Thakaran, an IABF co-ordinator.

However, the deal does not include women boxers as women's boxing is not yet a discipline in the Asian and the Olympic Games.

The Federation has also decided to bid for the men's World Boxing Championships and the Commonwealth Championships slated to be held in 2009.

"We have decided to bid for men's World Boxing Championships and Commonwealth Championships to be held in 2009. We are preparing our bid documents," Raja said.