Pros
- Although there are quite a few promising stars in domestic cricket, they aren't given the exposure they deserve. Although it is T20 cricket, and although I agree it may not be the best format to showcase your talent and bid for a spot in the national team, it's something. I think those emerging players (e.g. Virat Kohli, Ajinkya Rahane, Cheteshwar Pujara) are delighted about the prospect of playing in the IPL.
- Those same young players get a chance to play with some of the world's finest players (Indian and non-Indian). Not only play with them but possibly extract some very useful tips that could help them with their game and later on in their careers. To boot, it's not as if this only applies to young Indian players. I'm pretty sure Moises Henriques benefitted from being around Saurav Ganguly and Graham Napier from being around Sachin Tendulkar, for example.
- If it wasn't the IPL, something else would have come up, simply due to the popularity of T20 cricket, and maybe it would have been on a scale of similar size as well. If not for the IPL, perhaps some of the West Indies players would retire prematurely out of spite and because they're tired of waiting. It's also pushing cricket up the ladder in that such salaries were unheard of earlier and this in turn is pushing cricket closer to sports such as football (NOTE: I said closer).
- Although many may not think so, it can get people who were previously unaware of cricket, into it. However, any T20 competition would suffice for this but maybe it's more appealing to some that players of different nationalities are playing together on one team.
- In a way, it has forced the BCCI to improve the quality of India's stadiums/grounds, at least aesthetically, if not the pitches.
I'm sure there are more but I can't think of them right now.