Fairs and Exhibitions India's Exhibition Market Booms
The Indo-German bilateral relations have strengthened over the years and what boosts these trade relations further are, trade fairs. These trade fairs support German companies foraying into the Indian market and vice-versa by offering them a platform to network and present themselves to a wider audience. Here’s a look at how trade exhibitions help businesses to expand their international base...
Trade fairs, exhibitions and business forums act as excellent platforms to network for organizations, which plan to expand their businesses. Also, they present opportunities for such companies to display the latest products and technologies, assess market conditions, evaluate competition and allow for learning more about clients’ mindset. When combined with the right marketing tool, participating in the right exhibition can create immense business opportunities even in relatively unknown territories.
“Events create a platform for companies to share their experiences and learn from each other, as well as establish new business contacts and realize new opportunities on an international level,” said Managing Director, Messe Frankfurt India, Raj Manek.
Close Cooperation Between India and Germany
It is especially true in case of Indian and German companies. These two countries have had a long-term business relationship, that goes back to more than 500 years. The last 50 years have brought both the countries closer and they have emerged as stronger trade partners for each other. These well-established business relations, combined with the aid of exhibitions, help German organizations get a good exposure in India and vice-versa.
Exhibition Market to Grow in India
In addition to the long-term trade partnership, the Indian economic condition is also a strong reason for German companies’ to show interest in the country. “In the scenario where exports are increasing, India is expected to continue to grow despite economic weakness faced by the rest of the world.
The Indian economy is expected to quadruple in size between now and 2020, according to a report by Edelweiss Capital,” revealed Deputy CEO, Messe München International India (MMI India), Bhupinder Singh.
With the current and expected growth of the Indian economy, many German companies are expanding their wings in India. “German companies would like to exploit the huge market potential in India in sectors like the automotive aftermarket, textiles, pharmaceutical and retail industry. We are confident that the scope of cooperation and German investment will substantially increase across all these sectors as well as others in the near future,” stated Manek.
Foreign companies’ interest in the Indian market has a direct effect on the growth of the German exhibition companies. “International organizers entering the Indian market have the opportunity to tap into niche markets, thus there is a great potential for growth here,” opined Managing Director, NürnbergMesse India, Sonia Prashar.
Expanding Horizons Through Trade Fairs
Role exhibition companies play
Besides the market conditions, governmental policies also play an important role. “With encouraging foreign policies by the Government of India, the market is poised to grow further and with it of course the Indian exhibition industry. Hence, this is the right time to invest in India and make a mark,” opined Prashar. With the same view, NürnbergMesse has started its full fledge India operations this year.
Talking about the newly started subsidiary, Prashar added, “By creating a platform for German companies to showcase their products in India and by creating a world class exhibition and networking platform, we intend to encourage more and more companies from both the countries to present their products and solutions in India and Germany, thereby facilitating trade relations.”
NürnbergMesse is present in India with number of events such as Powder & Bulk Solids India, BioFach India, PaintIndia etc.
Messe Frankfurt India organises international trade fairs like ACMA Automechanika New Delhi, Watertech India etc. Talking on the same, Manek avers, “Besides organizing a host of successful inbound international trade fairs such as the ones mentioned above, our Indian arm is also responsible for sales and support of several outbound trade shows including held in Frankfurt, Germany. Working in this way, it helps us create a two way path.”
Exhibitions Encouraging Facilities
Furthermore, he also mentioned that Messe Frankfurt India offers domestic companies looking to expand their overseas markets powerful trading platforms across several industry verticals like automotive, textiles (technical and home textiles), technology, infrastructure and consumer goods.
Alternatively, through its shows like Electronic India, Inter Solar, Drink Technology India, IAFT, etc., MMI India facilitates exhibitors with a German pavilion. This special pavilion offers Germany-based companies the opportunity to meet their prospective clients in India and vice-versa. Indian companies can transact with the German-based companies and other international companies through it.
“A Win–Win Situation for Everyone!”
“It’s a win-win situation for everyone. To the participating German companies, India’s sustained economic-growth and competitive cost base offers long-term opportunities; whereas Indian companies can access worldclass technology and R&D through collaboration with German companies,” pointed out Singh. He further mentioned that some sectors that are already gaining with this trade relation with the help of exhibitors are automotive, defense, electronics, pharmaceuticals, clean technology, infrastructure, food processing, etc.
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.