It’s no mean feat. The economy of India is the world’s seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP), growing by leaps and bounds. The Indian exhibition industry is among those that seeks to benefit accordingly.

According to local industry association estimates, more than US$44.5bn (INR 3,000,000 crores) of business is transacted through exhibitions in India annually, while the direct spend of the Indian exhibition industry is estimated to be over $3.7bn. More than 750 professional trade shows are held annually, including the B2B and B2C exhibitions. 24% of these shows are organised by international organisers, while rest are by domestic organisers, the government and trade bodies.

SATTE 2018, at India Expo Mart in Greater Noida

India has a strong democracy, a young demography, a half-billion strong middle class with buying power, and an economy growing by 8%. Nonetheless, the potential of India’s exhibition industry must be seen in the context of other high-growth potential emerging market, such as China. 

And the fact remains: India has been a difficult place to do business for many exhibitions organisers. Until last year, it was ranked 130th in the world for ease of doing business, by the World Bank. The country has been a difficult place for successful foreign direct investment (FDI) and poor government recognition of industry and a shortage of world-class venues.

But this is being addressed. New FDI and tax regulations and the formation of representative bodies, such as the Delhi Convention and Visitors Bureau, are the result of a u-turn by the industry association and are doing much to help.

IEIA president Mr KV Nagendra Prasad

“The Indian government is constantly making efforts to attract FDI by liberalising the FDI norms in the country. Almost all manufacturing sectors have 100 per cent FDI under automatic route,” says IEIA president Mr KV Nagendra Prasad (pictured right). “This is also facilitating market access through liberal tax agreements and increasing government spend towards improving infrastructure network. Cumulative infrastructure spends totalling around €500bn are planned over next six to seven years.

“Owing to the increased efforts on the part of the government, India emerged as the fastest growing major economy globally overtaking China in the last two to three years … average growth projection for India is estimated at 7.1% against global average of 2.8% and 6.4% for China until 2020.”