Event and Entertainment Management Association (EEMA) launched the first ever white paper on the events and activation industry in India on July 30, 2012 at the concluding ceremony of its 5th annual convention – EEMAGINE 2012. The paper, commissioned by EEMA, has been prepared by Ernst & Young.
Ambika Soni, Union Minister of Information and Broadcasting, unveiled the white paper amongst a gathering of leading players from the events and experiential marketing industry. Ashish Pherwani, Partner, Ernst & Young, who worked extensively on the white paper, presented the highlights of the paper to the audience. Brian Tellis, President, EEMA, shared how the release of the white paper was a momentous occasion for the entire events industry in India.
Soni informed the audience that prior to her current role as the Information and Broadcasting Minister, she had handled Ministry of Tourism and Culture for three and a half years, which exposed her to the nuances of the events business in India. She said, “I am here because of my commitment to events management services. I aggressively sold MICE Tourism during my three and a half years as Minister of Tourism and Culture. We branded Incredible India.”
She acknowledged the challenges faced by the events industry due to various tax norms, and added that she is constantly talking to the Finance Ministry to find some solutions.
While there are roadblocks, Soni pointed out that the real challenge for the events industry in India is more external than internal. “There is no doubt that there is a huge potential for the industry, given the size of Rs 2,800 crore and growth of 20-25 per cent. But I know that the international market for events runs into thousands of billions of dollars and India forms a very small percentage of that pie, barely 8 per cent. The real challenge is to capture the international market and bring it to India, to be a larger part of that pie,” she said.
Listen to Ambika Soni’s speech at the EEMA White Paper launch here: