“Transformation And Innovation Of The Exhibition Industry In India”

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  • The current scenario in the industry is reflecting growth for smaller exhibitions and organizers but for bigger exhibitions to grow we need better arrangements. There are small changes that we need to make, and big positive results will follow. With better infrastructure and government support the size will only grow in the upcoming years.
  • The Exhibitions are transforming into a new paradigm, focusing on sector specific shows with immense efforts in terms of collaboration and Mergers and accusations, with an initiative to consolidating the highly fragmented organizers.
  • Growing young population with high disposable income has been an enabler in terms of changing lifestyle and buying pattern- hence opening new avenues for Life style shows.
  • Impact of globalization has facilitated new entrants with new and innovative exhibition formats.
  • The new trend which is emerging are Media and Publishing houses are looking at Exhibitions as an extended arm of value proposition.
  • The challenges we face today are global in scale and scope-delivering superior service should be imbibed in the mind of employees at all levels in an organization.
  • We live in an extraordinary times, we have technological and social ability to connect and serve each other as never before.
  • Businesses are now changing, divesting, transforming & growing, it is no longer enough to deliver services, but it is also necessary to understand and be able to “touch and see the business impact, outcome and services delivered by such system”, as the shift that is occurring is that such systems have to able to understand the business domain, the customers operating model, Service is taking action to create value for the eco system- crisis of service  is felt all over the world.
  • Huge economies are transforming from manufacturing base to service based at record speed, and our business economies are largely unprepared.
  • Service is present in every aspect in an organization as business environment is completely depended on other people.
  • We live in a world that is completely infused with service, that include customers, supplies and other support systems and service is all around.
  • All over the world organizations are taking practical steps to understand their customer better, create more positive experiences, generate greater value, deepen loyalty and build long term relations for the future as businesses everywhere want to be confident that providers will deliver on time and to the required level of quality.
  • Improve your top line through unprecedented personalization at scale. It can do this by helping you acquire new customers, retaining and up-selling to your existing customers and through customer support service.
  • Companies are undertaking strategic shifts to adapt to changing customer needs as they alter service offerings and enhance our business share at global stage and sustain there in wake of tough business environment both at the domestic & international level, it is imperative build on Mutual strength and its gain are equitable with a win – win attitude.
  • Huge economies are transforming from manufacturing base to service based at record speed, and our business economies are largely unprepared. The challenges we face today is global in scale and scope- delivering superior service should be imbibed in the mind of employees at all levels in an organization.
  • To enhance our business share at global stage and sustain there in wake of tough business environment both at the domestic & international level, it is imperative for us to enhance our levels of competitiveness and also give due importance to technology & innovation. Build on Mutual strength and its gain are equitable with a win – win attitude.

Trade fairs indeed play a pivotal role in the economic revival

If we analyze the trade fairs per say, it not only boosts trade and business of the specific industry/sector intended to, also boost a whole lot of economic activity around like Banking, Construction, Employment, Hospitality, Tourism, Telecom, Logistics and works as a value chain enhancer.

The Functionality of Trade Fairs & Exhibition Industry :

As purely an instrument of communication, a trade fair appearance really belongs on the test bench. There are less-expensive but more-spectacular alternatives. But if you want to open new markets or reach new groups of customers, then there are still good reasons for attending— seeing that strategically conceived publicity aimed at specific target groups is continuing to gain in importance all the time, and many trade fairs can still be used as an opportunity for initiating new business deals.

The Role of Exhibition Industry in Indian Economy :

  • The last few years have witnessed the exhibition industry evolve and grow exponentially. The exhibition sector helps to market the products and provides a platform for the manufactures to launch their products and get distributors for various markets. It is one of the best platforms to showcase products to consumers as well as businesses for development of the market.
  • Unlike International expos, the Indian expos mostly remain a marketing and branding event and a source of networking opportunity. But there is an imminent need for expos to innovate, re-invent on regular basis, to freshen up the event and the audience.
  • One good thing about the Indian expos is that the year-on-year growth has been better and the future looks still better. The impediments to growth need to be removed, so as to create a conducive environment for growth of the trade fair sector.
  • With the industry witnessing moderate growth rate, it is anticipated that the Exhibition Industry market will exhibit higher growth in the forecast period as well. Gradual upsurge in the investments by various governments will drive higher growth rate in the future.

Why do we need an ecosystem to foster a culture of innovation in the Exhibition industry?

  • Back in the old days, most R&D was capex-driven. You needed large investments to have the latest and the greatest gizmos and co-located teams to conduct research and drive them into innovative products. Innovation was something typically led by large companies. However, globalization and the Internet have made it possible for talent to be located anywhere and yet collaborate in real-time.

 

What we are seeing today in India is a strong early sign of a growing innovation ecosystem. There are over 800 start-ups today. Over 50 venture capital/private equity firms have India presence, funding local start-ups

  • Last but not the least, established, global players need to have a system in place that not only harnesses but fosters the growth of local ecosystem. This is the reason companies like Yahoo! have opened their APIs so local tech community can build applications on top of that. We do see lot of other companies having large developer network programme, but most are way too regulated with a tight agenda.

Some of the latest technologies that are changing the way exhibitions are being organized in India today

  • I believe digital technology has had a big role to play in the way not just exhibitions are being organized but also being accessed too. Today, the registration process for entry into exhibitions for both delegates and participants has completely changed and it’s been more efficient. You can simply fill an online form and your seats can be reserved, badges can be printed without having to physically move. Only those, who have seen the exhibition industry in India since its beginning will realize such a big change it is. I see digital media not as a competition but as a compliment to the exhibition industry.

The writer has over two decades of experience in the exhibition industry

 

 

 

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