NEW DELHI: Exhibitions play a pivotal role in driving economic growth by promoting trade, fostering entrepreneurship and attracting investments, Union Minister for Tourism and Culture Gajendra Singh Shekhawat said while launching India's first independent Economic Impact Report for exhibitions, prepared in partnership with research firm EY.
The report assesses the economic contribution of India's travel and tourism sector, with a special focus on the South Asia Travel and Tourism Exchange (SATTE) and its role in strengthening the country's travel and tourism ecosystem.
Speaking at the event held here in Delhi, Shekhawat described exhibitions as catalysts for economic development, noting that they generate business opportunities, facilitate knowledge exchange and contribute to overall economic progress. He also highlighted SATTE's position as South Asia's leading travel and tourism exhibition.
He also mentioned the government's "Meet in India" initiative and ongoing infrastructure improvements, showing their commitment to strengthening India's Meetings, Incentives, Conferences, and Exhibitions (MICE) sector.
Speaking at the launch, Suman Billa, Additional Secretary and Director General at the Ministry of Tourism, said the report provides measurable evidence of the value created by exhibitions.
"Exhibitions are not just industry gatherings; they are significant contributors to economic growth and valuable sources of market intelligence," Billa said. "While their impact has often been discussed anecdotally, this report provides credible data and measurable outcomes."
Yogesh Mudras, Managing Director of Informa Markets in India, said the study would serve as a valuable reference for policymakers, tourism boards, investors and industry stakeholders shaping the future of India's travel and tourism sector.
Describing it as the first independent assessment of the contribution of exhibitions, Mudras said the report highlights the wider economic value of business events and underscores their growing importance in supporting the country's travel and tourism industry.