Association of Event Organizers' second international Dinner of 2024 offered key insights into India's future and underscored the need for local expertise, strategic partnerships, and thorough research to thrive in this dynamic market.
On August 7, 2024, the Cinnamon Rooms in Westminster hosted the second AEO (Association of Event Organisers) International Dinner of the year, with a focus on India. The event was graciously supported by RE Rogers India, a leading logistics and freight forwarding firm. The evening was marked by an engaging program, featuring updates on India’s economic and political landscape, as well as insights into the exhibition and event organizing sectors.
Welcoming Address
The event commenced with warm welcomes from AEO International organiser group Vice Chair Damion Angus of Montgomery Group and Ravinder Sethi Chairman and Managing Director of RE Rogers, accompanied by CEO Sudhir Dhavan. RE Rogers, established in India in 1986, has grown into a global logistics powerhouse with a significant presence in various industry associations. Their longstanding support highlights their commitment to fostering international trade and industry relationships.
Economic and Political Update
The dinner featured a comprehensive update on India’s economic and political climate:
Democratic Resilience: India’s recent elections saw over 630 million voters participate from a population of 1.4 billion, resulting in a stable, minority government. This underscores India's robust democratic processes and efficient electoral systems.
Business Environment: The current administration fosters a favorable business environment with straightforward, secure procedures for setting up new enterprises. Despite India's vast diversity—encompassing 22 official languages and 20,000 dialects—the legal and taxation frameworks are uniformly applied.
International Business Climate: The requirement for a local CEO has been relaxed, welcoming international business leaders. While international exhibition participation has yet to recover to pre-COVID levels—particularly with a 35% drop in Chinese exhibitors—the regional exhibitor presence has grown, enhancing overall show sizes.
Russian and Global Sanctions: Russian industries like defense and oil & gas remain significant, though global sanctions are strictly adhered to by individual companies.
Organiser Landscape
The landscape for event organizing in India reveals dynamic growth:
Established Players: Major firms such as Montgomery, Tarsus, and Informa have long operated in India, with a growing number of mid-level organizers and associations emerging.
Opportunities for New Entrants: The sector is vibrant with numerous successful partnerships and joint ventures. Indian associations are also expanding their reach internationally.
Intellectual Property and Local Teams: Strong IP protection and effective local teams are crucial for success, with a focus on building local trust and partnerships.
Infrastructure, Demographics, and Market Dynamics
India’s evolving infrastructure and demographics offer significant opportunities:
Youthful Population: With the youngest population globally and a burgeoning middle class of 450 million, India presents a robust consumer market.
Top-tier Venues: Cities like Mumbai, Delhi, Hyderabad, and Bangalore boast world-class venues, with increased capacities accommodating new shows.
Visa and Legal Considerations: While visa restrictions for Chinese companies have started to relax, understanding local and central laws remains crucial. Price discrepancies between local and international rate cards are diminishing, with square meter sales still being a primary revenue metric.
Health, Safety, and Sustainability
Health and safety (H&S) and sustainability are becoming focal points:
Enhanced Monitoring: Major venues and organisers are prioritizing H&S, with increased on-site monitoring and sustainability efforts.
Supplier Credentials**: Established suppliers are showcasing their sustainability credentials, although research into these aspects is vital.
Mergers and Acquisitions
The Indian market remains active with notable trends:
Due Diligence: Conducting thorough research and due diligence is essential, with incumbent management often retained during acquisitions.
Legal Expertise: Employing skilled legal services is crucial for navigating mergers and acquisitions successfully.
Future Outlook
The evening concluded with an optimistic look at the future of the Indian market. The significant changes observed since Ravinder Sethi’s address on improved infrastructure, a stable government, and an increasingly mobile population set the stage for promising developments in the coming decade. Attendees left with a renewed appreciation for India’s growing role in global trade and events, bolstered by the dynamic landscape of business and exhibitions.
The second AEO International Dinner not only provided valuable insights into India's current and future prospects but also emphasized the importance of local knowledge, strategic partnerships, and thorough research in achieving success in this rapidly evolving market.
Comments