Bangalore, 26 May 2021: Indian Machine Tool Manufacturers’ Association (IMTMA) and Bangalore International Exhibition Centre (BIEC) welcome the decision of the Ministry of Finance, Government of India to accord ‘infrastructure’ status for exhibitions and convention centres.
The ministry has included exhibitions and convention centres in the Harmonised Master List of Infrastructure sub-sectors by insertion of a new item in the category of Social and Commercial Infrastructure.
Speaking about the development, V. Anbu, President, UFI – the Global Association of the Exhibition Industry and Director General & CEO, IMTMA and BIEC said: “Exhibitions are enablers of industrial development, trade, economy, and employment generation. They are an important link to the value chain of MICE, tourism, hospitality and other peripheral industries.”
He further added: “Granting of infrastructure status will help projects to avail funding from banks and financial institutions without encountering major hassles. It will also lead to increased government spending on infrastructure projects akin to what we see in Europe, America and other parts of Asia. This would encourage venue development in not only metropolitan cities but in Tier 2 and Tier 3 cities as well, leading to more exhibitions in these regions.”
“Furthermore, this will encourage stakeholders to upgrade existing infrastructure and increase capacities to attract more shows in future. All this will spiral the growth of the exhibition industry and firmly place India as a top destination in MICE tourism. The Indian exhibition industry is happy that one of its long-standing demands has been met,” Anbu concluded.
IMTMA was formed in 1946 when 19 machine tool manufacturers joined hands to form an Association. In 75 years, the Association has grown in size to have over 450 members representing around 90% of the organized machine tool and allied equipment manufacturers as of date.
IMTMA is the apex body and single point of contact for the entire machine tool industry of India and plays a key role in the development of the metalworking industry.
A not-for-profit association, IMTMA’s initiatives range from government advocacy to industry and export promotion, trade fairs and events, training and seminars, technology missions, publication of various industry and technical writings, structuring of regional councils, and development of clusters.
BIEC is India’s premier exhibition-cum-conference facility. Spread across 57 acres of lush-green area BIEC infrastructure comprises five exhibition halls, a conference centre, a food court, an amphitheatre, an entrance plaza and a large outdoor area.
BIEC is India’s first LEED-certified Green Exhibition and Conference Facility. It is a member of UFI, IAEE, AFECA, ICCA and IEIA, globally recognized associations of the exhibition industry. Exhibitions from diverse sectors such as construction equipment and technology, woodworking solutions, machineries, exposition of the start-up ecosystem, digital business, architecture and building materials, electrical, agriculture, IT, textiles, and so on have been held at the venue. The government of India, as well as the Government of Karnataka, have patronized BIEC for various events organized by them.
The Global Association of the Exhibition Industry: UFI is the global trade association of the world’s trade show organisers and exhibition centre operators, as well as the major national and international exhibition associations, and selected partners of the exhibition industry.
UFI’s main goal is to represent, promote and support the business interests of its members and the exhibition industry. UFI directly represents more than 50,000 exhibition industry employees globally and also works closely with its 60 national and regional association members.
More than 800 member organisations in 88 countries around the world are presently signed up as members. Around 1,000 international trade fairs proudly bear the UFI-approved label, a quality guarantee for visitors and exhibitors alike.
UFI members continue to provide the international business community with unique marketing media aimed at developing outstanding face-to-face business opportunities.