More than 200 Events Lined up at Yashobhoomi in the Next 2 yrs: DPIIT
Prime Minister Modi Inaugurates India's Largest Complex, Aims to Boost MICE Industry
More than 200 exhibitions and conventions are on the horizon for the India International Convention and Expo Centre (IICC) – Yashobhoomi – located in Dwarka over the next two years, according to a senior government official.
These events will span various sectors, including digital innovation, hospitality, entertainment, healthcare, automobile, infrastructure, travel and tourism, and smart manufacturing.
Kinexin Convention Management Pvt Ltd, a consortium comprising Korea International Exhibition Centre (KINTEX) and eSang Networks Company Ltd, is actively conducting global marketing initiatives to attract events to this recently inaugurated center. Prime Minister Narendra Modi officially opened the IICC on September 17.
KINTEX has been entrusted with the role of operator for the exhibition and convention center, overseeing its management for the next 20 years.
Prime Minister Modi unveiled Phase 1 of the IICC, an investment totaling Rs 5,400 crores. He also extended the Delhi Metro’s Airport Line to terminate at YashoBhoomi Dwarka Sector 25 station during the same event.
Rajesh Kumar Singh, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), expressed that the IICC is India’s largest complex, poised to contribute to the flourishing MICE (meetings, incentives, conferences, and exhibitions) industry. Currently, India’s share in this industry is less than 1 percent of the Rs 25 lakh crore sector. The Bharat Mandapam at Pragati Maidan and Yashobhoomi are expected to increase India’s presence in this sector.
In 2019, India was ranked 28th on the International Congress and Convention Association (ICCA) list, hosting 158 meetings, primarily due to the relatively lower number of events held in the country. Delhi was positioned 75th out of 475 cities.
Singh also discussed the future phases of the ICC project, indicating plans to use Yashobhoomi to attract private sector participation in Phase II of the IICC project. This will be initiated through a public-private partnership (PPP), commencing with the development of hotels.
The upcoming Phase II project includes the construction of nine three- and five-star hotels, as well as retail space.
Phil Chung, CEO of KINEXIN, emphasized the growing interest of numerous countries in India, anticipating heightened customer demand driven by the IICC project. Marketing initiatives are actively being conducted worldwide to support this endeavor.
Sumita Dawra, Special Secretary and IICC Dwarka Managing Director and Chief Executive Officer, revealed that Phase I of the project has incurred a cost of over Rs 5,400 crores, with plans for over 100 exhibitions and conventions at Yashobhoomi within the next two years.
The IICC is designed as a contemporary center to promote MICE activities, attracting and fostering business and industry. The project is divided into two phases, with Phase I encompassing a convention center and two exhibition halls, along with adjacent foyer and support facilities. Phase II includes three exhibition complexes, an arena, hotels, retail outlets, and office spaces.
The comprehensive project is spread over 221.37 acres in Dwarka Sector 25, with an estimated cost of Rs 25,703 crore. This exceeds the size of Bharat Mandapam, which spans 123 acres.
The project is expected to propel New Delhi into the league of Shanghai, Hong Kong, and Singapore within the exhibition market, according to the commerce and industry ministry. While Bharat Mandapam falls under the Department of Commerce, the Department for Promotion of Industry and Internal Trade (DPIIT) is responsible for executing the convention and expo center project through its wholly-owned entity, IICC.
Comparatively, within Asia, China dominates with over 68 percent (4.1 million sq m) of the total available space for exhibition facilities, while India accounts for only 0.3 million sq m, making up 4.9 percent of the Asian market share. In terms of hosting events across Asian markets, Chinese venues lead, hosting over 515 (28 percent) events annually, whereas Indian venues host 131 events (7.1 percent). The absence of world-class exhibitions and conference facilities had previously hindered India’s capabilities in this sector.