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Since when did you start your exhibition business in the Indian exhibition market?
Todi: 10Times.com was launched on 24th Jan 2014 as a global platform for eventgoers to discover business events. We have recorded multiple breakthroughs in this journey in the last 5 years, recently crossing over 50+ million professional users. Started as a simple discovery platform, 10Times has grown to become an important networking platform for professionals who want to meet other professionals in-person to do business at events.
While global in nature, we have been serving organizers both in India and interested in tapping the Indian market. We work with over 250 organizers in India to promote their shows. Being a part of IndiaMart, an Alibaba alternative in India, 10Times has deep access and understanding to the Indian market.
From your perspective, could you share with us the advantages and challenges it faces in comparison with that of China?
Todi: At this point, it would be hard to even compare the Indian market with that of China. So, instead of comparing the two giants on the scale, I would like to answer this question in terms of potential and current progress.
The biggest advantage India currently has is that there is a growing demand. With a young population, growing entrepreneurship, improving mobility, the scope for development is tremendous. At this point, India has hardly scratched the surface for what is needed in terms of business events, for both local and international demand. With the government’spush on industrialization and rising service sectors, there will be a great need for a large number of shows. With over 1.3 billion population and projected$5trillion economy, its a great opportunity to launch shows in almost all verticals.
With limited events, and smaller venue size compared to countries like China, one big advantage is that space utilization has to be maximized. While most don’t consider this as an advantage, rather a challenge, with changing event formats and booth size shrinking, we might need more venues in more locations, rather than massive venue in a single location like the Shenzhen World.
Another advantage India has is lowcost semi-skilled labor force. If utilized correctly, India can become the hub for business events in South-East Asia. Lastly, as a growing hub for technology and innovation across industries, India can leap frog in how tech enabled the event is. What do you think is the growth engine of the Indian exhibition industry?
Todi: Latent demand from businesses looking to grow and infrastructure development push by the government is ideally the growth engine of the event industry in India and it is expected to grow exponentially due to its ability to adapt & adopt innovative technology.
Demand for products in India with its huge appetite would drive exhibitors from around the world to come to India. Along with that, the push on manufacturing would open possibilities for international exhibitors eying the Indian market, has opened the market for launching new shows across different parts of India. This trend can be guaged from the fact that the events industry in India is expected to cross Rs 10,000 crore ($1.5 billion) mark by 2020-21. The industry, which was at Rs. 5,631 crores ($800 million) in 2016-17 overall, has been growing at a 16% CAGR, even overtaking the Indian media and entertainment (M&E) industry, which is growing at 11-13% CAGR.
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How should the Indian exhibition industry pose itself in the global market?
Todi: At this point, India is demand driven economy which is highly attractive for all exhibitors around the world. Currently the Indian Exhibition Industry should showcase itself as global buyer and encourage Exhibition companies to launch new shows here or partner with established local partners to bring international exhibitors here.
What is your cooperation plan with the Chinese market? Or how do you think ChinaIndia exhibition industry can cooperate?
Todi: We work with over 200 organizers in China, driving international audiences there to shows across most industries. Currently, we are exploring helping Chinese organizers looking to get into India with their own shows or partnerships in the form of local joint-venture of Chinese pavilions in Indian shows.
Being the worlds two biggest economies in terms of demand, its certain that this decade would see massive growth in both China& India. With close co-operation, IndiaChina can revive the age-old relationship we have shared over centuries. The formats of cooperation include: Bring Exhibitors from China directly to India to tap massive demand; Launch joint-ventures in with show organizers in India; Give preferential rated to Indian exhibitors & pavilions in Chinese show to encourage partnership; Make special arrangements for participants on both side of the border to address challenge like food and translation.