India All Set to emerge as Meetings, Incentives, Conferences, and Exhibitions (MICE) capital of the world – Gajendra Singh Shekhawat
What is MICE?
Meetings, Incentives, Conferences, and Exhibitions (MICE) refer to a specialized segment of the tourism and hospitality industry focused on organizing and hosting business events. This segment has emerged as a significant driver of economic growth, creating massive employment opportunities in related sectors such as accommodation, food and beverage, convention services, transportation, tourism, and entertainment.
Why India?
India is already at the threshold of strong possibilities for this sector. With over 700 leading industry players and decision-makers attending the latest exhibition event hosted by the Union Minister of Culture and Tourism, Gajendra Singh Shekhawat, India’s role as an MICE capital is growing increasingly important.
The government and private exhibition industry have to work together to make India a centre of strong possibilities for this sector.
Key Activities at Gajendra Singh Shekhawat Event
The recent event showcased India’s growth in the exhibition market, with leading players from Mumbai, Delhi, Hyderabad, Bangalore, Jaipur, and even small cities post-G20 meetings contributing to the nation’s development. The event highlighted India as a destination that is both a global hub for travel and an emerging focus in MICE tourism.
Other Industries Gaining traction
India’s economy has also grown significantly in other sectors tied to MICE activities, including:
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Tourism: The exhibition sector continues to grow rapidly, especially post-G20 events, as the country becomes a global destination for travelers and businesses.
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Agriculture: India is expanding its agriculture market through agricultural exhibitions and trade fairs.
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Food and Beverage: The food industry’s growth mirrors the expansion of the exhibition sector.
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Conventions and Events: The rise of international conventions aligns with India’s increasing interest in MICE tourism and events.
Key Statistics from IEIA Open Seminar
The latest IEIA Open Seminar, held over two days, attracted over 700 leading industry players at decision maker levels, including heads of various trade bodies and sectoral associations. India has consistently shown growth in the exhibition market post-COVID, with a 40% increase in the country’s exhibition sector compared to pre-COVID levels.
The exhibition industry contributes Rs. 50,000 crores to the Indian economy, generating Rs. 39,822 crores through trade activities and export revenue from major players.
MICE Day – Why It Matters?
Introducing MICE Day as a national event has become a powerful tool for driving economic growth in India. This day serves as a common platform for businesses to showcase their products and services, fostering collaboration between industries.
MICE Day is not just about showcasing businesses but also about creating opportunities for the entire economy to thrive together.
Final Thoughts
India’s leadership as an MICE capital is attracting the attention of global leaders, while its expansion in other sectors mirrors this trend. As the country continues to grow, it will be crucial for companies to align their strategies with India’s needs for modern business practices.
For those interested in participating in future MICE events or exploring deeper into the MICE market, India stands as a prime example of how global growth can benefit local communities and industries alike.