Chennai: The conferences, conferences and occasions market in India is about to double in dimension to over $100 billion by 2030.
The Indian MICE (conferences, incentives, conferences and occasions) market, valued at $49.4 billion in 2024, is projected to greater than double to $103.7 billion by 2030, rising at a sturdy 13 per cent CAGR, as per a authorities assertion.
In accordance with FHRAI, the expansion is the direct results of daring coverage choices, infrastructure modernization, and the strategic improvement of latest MICE-ready locations like Varanasi, Khajuraho, Kochi, and others, that are quick rising as international centres for cultural convergence and enterprise trade.
India’s infrastructure transformation—marked by over 1.5 lakh km of latest roads, upgraded railway networks, semi-high-speed trains, inland waterways, greater than 150 airports, and over 2.48 million lodge rooms—has performed a vital function in enabling this development.
In accordance with Suman Bery, Vice Chairperson of NITI Aayog, India’s G20 presidency had been a catalyst for development within the MICE section. “It’s time for states to capitalize—from deregulation to live performance tourism, India can change into a worldwide epicentre for occasions and experiences,” he mentioned.
“The profitable internet hosting of the G20 Summit has additional positioned India within the international highlight, affirming our readiness to host high-level worldwide occasions whereas showcasing our regional range, functionality, and resilience,” added Pradeep Shetty, VP FHRAI.
Conferences was the most important section with a income share of 42.91 per cent in 2024, in response to Horizon Grand View Analysis.
MICE tourism advantages the financial system in a number of methods, together with opening up new enterprise prospects, spreading information, providing coaching, and enhancing expertise. MICE locations play a key function in market development.
In India, MICE locations are drastically facilitated by the central and state governments. The State Governments are tasked with offering last-mile connectivity, native civic infrastructure and companies, and facilitating core MICE infrastructure, whereas the central authorities is in-charge of selling India in worldwide markets, creating aviation infrastructure, and liberalizing the VISA regime.
The exhibition trade in India can be quickly rising, which can speed up the market development over the forecast interval.
