T he International Monetary Fund is ex pecting the Indian economy to grow by 7 per cent this year on the back of ex ports and robust consumption The In dian trade fair industry is set to exceed even that Foreign organisers are increasingly thinking about bringing offshoots of well known trade fairs to India Already estab lished events are also growing on the sub continent according to the decision makers at the Bangalore International Exhibition Centre BIEC currently India s largest trade fair centre which offers 77 000 square me tres of indoor space The venue s flagship event the metalworking trade fair Imtex at tracted almost 92 000 visitors in January The number of business deals struck at Imtex was 46 per cent higher than at the compara ble event in 2017 and there was also a sig nificant increase in business enquiries Among the drivers of growth are future tech nologies Imtex has evolved from a typical machine tool trade fair into a showcase for Industry 4 0 and additive manufacturing The numbers of exhibitors visitors busi ness deals and enquiries have also increased at other trade fairs held at the BIEC These include IndiaWood Stona the International Granites and Stone Fair or the construction equipment machinery and materials trade fairs Excon and Acetech Whereas the sum mer months used to be a quieter period that is no longer the case at all A wide variety of conferences and trade fairs have taken place between May and September The National Productivity Summit an event that is passed around between major Indian major cities was hosted in August The summit addresses the competitiveness of India s manufacturing industries which is a hugely important fac tor if the ongoing economic upswing is to continue the government is making great ef forts to reach its target of raising GDP to 5 billion dollars by 2025 Manufacturing has a key role to play in this The positive business climate resulting from the economic boom is also boosting oth er types of events at the BIEC For example the Chinese manufacturer OnePlus launched its latest smartphone the OnePlus 7 there putting the BIEC firmly in the spotlight of global attention But while the thriving econ omy is clearly having a positive impact on the event industry it is by no means a one way street The Indian economy also benefits from a flourishing MICE sector and trade fairs have an accelerating effect on growth Ac cording to the BIEC annual growth potential of 12 per cent is forecast for exhibitions and trade fairs This and other developments will be discussed by the delegates at the tenth IEIA Open Seminar which is organised by the Indian Exhibition Industry Association Held annually the seminar is taking place at the Bangalore International Exhibition Centre in 2020 and will feature a wide range of presen tations and panel discussions Speakers and experts from all over the world are being in vited www biec in PB 52 TradeFairs Internation al 3 2019 INTERNATIONAL INDIA Showcase for the economic boom The outlook for India s economy continues to be very promis ing The trade fair industry is also benefiting from the positive business environment The BIEC in Bangalore provides a good example of this Das gute Geschäftsklima im Zeichen des Wirtschaftsbooms beflügelt Messen und andere Veranstaltungsformen in Bangalore The good business climate in the wake of the economic boom gives a boost to trade fairs and other types of events in Banga lore Ph ot o B IE C

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