India’s exhibition sector takes a hit with loss of Rs 3,570 crore

By

Maverick Martins

Published
Apr 7, 2020

The Indian Exhibitions Industry Association (IEIA), the apex body of exhibiting and trade show industry in India, has said that it has incurred an estimated loss of Rs 3,570 crore ($469 million) due to the lockdown imposed to curb the spread of the coronavirus pandemic.
 

The association has sought an economic stimulus support package from the government, which includes a ten percent incentive to Indian exhibition management companies to organise shows in the country to help the industry recover the losses.
 
Due to the coronavirus outbreak, the trade show industry has been hit hard as multiple global and national events have been postponed or cancelled in the country.

"In last few weeks more than 90 shows have been reported to be either postponed or cancelled due to Covid-19 with a resultant estimated loss of Rs 3,570 crore for the entire sector and this may increase if Covid-19 crisis lingers on," IEIA president, S Balasubramanian, said in a statement.
 
“The exhibition industry sector enables trade/business transaction of over Rs 3,00,000 crore, boosting and supporting the growth of various spectrum of industries while also being a colossal employment provider with nearly 1,20,000 people employed in this industry,” he added.
 
IEIA has said that the size of the Indian exhibition industry is Rs 23,800 crore with more than 550 events conducted annually in the organised sector.