GoI has a vision statement for the segment that incorporates state and city governments to build capacity and skills. It has provided incentives for developing hospitality infrastructure through PPP and wants Indian agencies to bid aggressively for international events. It also widens the product offering by spreading capacity beyond the metros to cash in on India’s diversity, which can be converted into a big advantage. The idea is to reroute the outbound MICE market through outreach to domestic industry and stakeholders while encouraging inbound traffic through focused marketing and facilitation.
India services a mere 1% of the global MICE industry. GoI wants to double this share. Saturation in mature US and European markets, and India’s relatively enormous tourism potential among competitors in the Asia-Pacific makes this an eminently achievable target. The knock-on effects of convention tourism on local economies can be transformational. India’s growing heft and improved connectivity is likely to keep demand robust in the medium term. The country needs to address supply to be able to build critical mass in this segment. MICE tourism dampens cyclicality in the industry and lowers the cost of upgraded tourism infrastructure. It also provides a platform for India’s increasing importance in global supply chains. It should be easier to sell Made in India to a world that also Meets in India.
