MICE facilities to be expanded to more cities in India: Piyush Goyal

Piyush Goyal today inaugurated the 43rd edition of the India International Trade Fair (IITF) at Bharat Mandapam in New Delhi. During his inaugural speech, the Minister said that the Government is planning to expand the India Trade Promotion Organisation into a world class agency reflecting the entire industry and the value chain at a single point so that the world looks upon India as the best MICE destination. Bangalore, Mumbai, Chennai, Lucknow, Varanasi and Noida are the places the Centre is looking to expand these facilities, he said. Iterating Prime Minister Shri Narendra Modi’s resolution to dedicate every decision of the Government to the goal of Viksit Bharat, Shri Goyal expressed his delight about the theme of IITF being based on the idea of Viksit Bharat 2047. 

Emphasising on increasing usage of digital transactions at all trade fairs, Shri Goyal said that the Centre is looking to put up kiosks around fairs to enable faster transactions. Centre is also looking at revenue sharing models with those industries seeking a market at India International Trade Fair and such events, he said. He also highlighted the need to go from local to global and facilitate convergence of buyers and sellers bringing in international exhibitors to India for consumer choice. Exhibition in India should be a one-stop shop for the world, he said. Shri Goyal also urged ITPO to consider virtual fairs particularly where look and feel of the products is not necessary.

The Minister also expressed hope of India conducting fairs across the world inviting foreign buyers, having a greater outreach and becoming outlets for goods and services in the developed countries. He also expressed hope of having innovation as an important element in the future fairs, dedicated pavilions showcasing startups, advancements in digital public infrastructure, AI, green technologies and cyber technology. 

Organised by the India Trade Promotion Organization (ITPO), this flagship event, scheduled from November 14 to 27, 2024, celebrates India’s vibrant culture, trade, and innovation, offering a platform for businesses and individuals to explore opportunities and foster collaboration.

This year’s theme, “Viksit Bharat @2047,” encapsulates India’s vision of becoming a self-reliant, prosperous, and resilient nation by 2047. The fair emphasises innovation, sustainability, inclusivity, and good governance as essential pillars for economic growth and social development. IITF 2024 provides an unparalleled platform to showcase India’s export potential and drive meaningful dialogue among stakeholders committed to this ambitious vision.

The event spans a gross area of approximately 1,07,000 square meters, with participation from over 3,500 exhibitors from India and abroad. It serves as a convergence point for domestic and international trade, fostering business-to-business (B2B) and business-to-consumer (B2C) engagements. The event is expected to attract nearly one lakh visitors daily, reflecting its status as one of the largest trade fairs in South Asia.