Fairs and Exhibitions
India's Exhibition Market Booms
With numerous positive factors in its kitty, the Indian exhibition industry is growing steadily. Discussing the optimistic results, Singh avowed, “We are confident that the scope of cooperation and German investment will substantially increase in all of these as well as the new sectors in the near future.” Increase in foreign investment will in turn lead to the growth of the exhibition sector. And with the German and Indian companies participating in the exhibitions, it will further boost the growth of the sector.
Agreeing Prashar added, “The Indian industry is now increasingly seeing trade fairs as a forum to launch new products, showcase innovation and of course generate business. And in the years to come I only see the industry getting stronger and more organized.”
A Multi Million Dollar Market
In terms of the trade fair industry in India, it is currently worth US$160m and has the potential to grow to US$990m by 2020, according to a report compiled for UFI by the Business Strategies Group. With the rise in Indo-German trade and growing Indian market, trade fairs and essentially exhibition companies will play a vital role in the years to come.