Nilakanta Sharma was a prominent figure in Indian sports, particularly renowned for his contributions to field hockey. He was a member of the Indian national hockey team that secured the gold medal at the 1948 Summer Olympics in London. This victory held immense significance for India, as it was the first Olympic gold medal the nation won as an independent country. Sharma played as a halfback in the team, demonstrating exceptional skill and tactical awareness on the field. His contribution was crucial in the team's success throughout the tournament.

Beyond his Olympic achievement, Sharma was a dedicated sportsman who contributed significantly to the development of hockey in India. He was known for his commitment to the sport and his ability to inspire younger players. Following his active playing career, he remained involved in hockey administration and coaching, working to promote the sport at the grassroots level. His efforts helped nurture future generations of hockey players who went on to represent India on the international stage.

Sharma's legacy extends beyond his individual achievements. He is remembered as a symbol of India's sporting pride and a testament to the country's growing strength in international sports. His participation in the 1948 Olympics represented a pivotal moment in Indian history, marking the nation's arrival on the world stage as a force to be reckoned with. His contribution to Indian hockey earned him respect and admiration from sports enthusiasts across the country, solidifying his place as a sporting legend.