IEIA at the India MICE Industry Round Tavle focussed on a roadmap to bring India into the top five global exhibition markets
The Indian Exhibition Industry Association (IEIA) on Friday convened the India MICE Industry Round Table that focussed on a roadmap to push the country into the top five global exhibition markets.
In a press release, IEIA says that the Indian MICE market, valued at USD 49.4 billion in 2024, is expected to surge to USD 103.7 billion by 2030. To achieve the target, the national strategy is to establish professional City MICE Bureaus, which are built on a public-private partnership (PPP) model, designed to act as a single window for event organisers and enhance business and resolve ecosystem fragmentation.
Also Read B2B meetings dominate agenda on Day 2 of Wedding and MICE Conclave
Suman Billa
“The establishment of professional City MICE Bureaus is the cornerstone of our national strategy. These bureaus will provide the coordinated, world-class support that global events demand, acting as a single facilitator for permissions and local partner networking. By moving to this autonomous institutional framework, we aim to double India’s share of the global MICE business within the next five years,” says Suman Billa, Additional Secretary and Director General, Ministry of Tourism.
Sooraj Dhawan
“City MICE Bureaus will be the engine of our transformation. By providing a ‘Single Window’ and a network of verified local partners, we are significantly de-risking market entry for international players. This professionalism, combined with the adoption of BIS standards for exhibition organisation, ensures that India offers the consistent quality required to host mega-scale international shows,” says Sooraj Dhawan, President, IEIA.
It adds that India has recorded a 40 pc growth in exhibition spaces rented in 2024 as compared to 2019, which is the highest growth rate among major global nations surveyed.
The statement adds that the exhibition sector adds INR 415 billion to the national economy in direct spending annually, with INR 126 billion in indirect spending rippling through local hospitality, transport and retail sectors.
It says that the country ranks at the 13th position globally in total indoor exhibition space, with venues like Bharat Mandapam, Yashobhoomi, India Expo Centre, among others, which provide the scale for global-tie events.
IEIA says that by 2030, Gen Z is set to account for USD 2 trillion in annual spending, which will represent a future consumer cohort for the MICE industry.