Recently the Indian exhibition industry has entered a modernization and growth phase. New tradeshows are organized, new exhibition centres are built, and the market is opening up to foreign investors for both the organization of exhibitions and the operation of venues.It concludes:
Thanks to its growing economy (8.5% of GDP) and its demography (1,095 million inhabitants, and 300 million middle class); India is emerging as a major player on the global economic scene. Its many assets should enable it to become a key player in the global exhibition business in the midterm period.
India’s exhibition infrastructure, in terms of venue and space availability, must be increased and modernized. In a way of comparison, India today has the same exhibition capacity as the city of Chicago. Until now India lags far behind China whose available exhibition space is eight times greater and which has three times the number of exhibitions.
The exhibition market in India has a promising future and is destined to grow. The policy of the Indian government and its bureaucracy is slowly changing, allowing private stakeholders and the foreign investors to invest and develop business more easily. With the Indian economy progressing at a rate over 8% per annum, and the help of the government and the participation of the private sector, India is on the right track to boosting its exhibition industry.The full report is available to members here.