"India has just started professional football. This means football has just acquired a new market worth one billion people," Blatter said.
The FIFA chief was in Durban to attend the preliminary draw for the 2010 World Cup and assist the Local Organising Committee with its preparations.
He said during the past 50 years the game had developed to such an extent that there were now about 260-million people directly involved in it.
"Football has become so big that the game is no longer merely entertainment, but a product on offer to more than one billion people around the world," he said.
"The game of football has become a product - a very good product in marketing terms. Along the way big partners like the television and the market spectators and businesses involved in football have come on board, making football one of the most lucrative businesses in the world," he added.
Turning to the 2010 FIFA World Cup, Blatter said he had no doubt that South Africa would succeed in organising a memorable tournament.
"The World Cup preliminary draw was a resounding success, a sign that the country is up to the task to stage one of the biggest sporting events in the world," he said.