New Delhi, May 15, 2015
Indian Exhibition Industry Association (IEIA)is organizing its fifth annual summit meeting at India Expo Mart – the state of the art exhibition complex located at Greater Noida.
More than three hundred delegates from India as well as abroad are expected to attend the event which has drawn an extensive program with sessions ranging from International perspectives on India, use of modern technologies & solutions for faster turnaround, Human Resource Development as growth stimulator, role of service providers as partners, how to ensure outstanding customer experience to visitors and develop synergies between MICE and exhibitions. Indian exhibition industry’s top honchos will then go on to identify three big opportunities and challenges of the next two years.
Rakesh Kumar, President of IEIA, said, “Over the last few years the Indian exhibition industry has been steadily growing at around 15%.”
He further mentioned that, in line with projected economic growth of Indian Economy by 7.5% by IMF, IEIA has set a targetfor the exhibition industry to achieveexhibition space sales of 15,000 crore by the end of 2017 fiscal yeargenerating business enquiries worth one lakh twenty thousand crore in3,700 hundred shows with net exhibition area of 750 sqm and above to be organized in the country”.
Various European studies have shown that trade fairs bring into play a powerful multiplier effect contributing to the extent of 10 to 12 times their turnover to the geographical area served. Estimating the worldwide turnover of the industry at EUR 25 to 30 billion, the economic impact of this activity, even by conservative estimates, would be around EUR 250 billion. And this is in addition to the role of facilitators that trade fairs play in promoting business.
There is a direct link between economic growth and the trade fair business. Not only do trade fairs stimulate business activityacross a wide range of sectors: e.g. hospitality, transport, freight movement, tourism but also help increase government revenuesthrough additional direct and, more importantly, indirect tax collections. For example, trade fairs boost German economic outputby about EUR 20 billion every year. They also ensure that 226,000 people have full-time jobs.
Furthermore, trade fairs generate EUR 3.8 billion in taxes at the federal, state and municipal level.
There’s been a flurry of activity during the last ten years as some of the world’s leading trade fair organizers like Reed Exhibitions, ITE, MesseNürnberg, UBM, Cologne Messe, Messe Düsseldorf have set up permanent establishments in India, either fully owned subsidiaries or joint ventures, and have been organizing shows in the country. Among major Indian players operating in the market are India Trade Promotion Organization, industry associations like CII, FICCI, Assocham, SIAM, Export Promotion Council for Handicrafts, Plast India Foundation, Apparel Export Promotion Council and others beside private players. CCI Newswire
