With Informa Markets being a global leader in exhibitions, you have a bird’s eye view of the industry across various regions. What key market trends do you foresee in the exhibition sector in the next five years, both in India and globally?
Yogesh Mudras: In the next five years, the exhibition sector in India is poised for remarkable growth, outpacing many global markets, driven by robust economic expansion and increasing participation. According to the UFI’s 2024 Global Exhibition Barometer, global revenues are projected to see a substantial uptick, with a 20% increase in 2023 and a further 17% in 2024. In contrast, India’s exhibition industry is expected to achieve two consecutive years of double-digit growth, with recent reports indicating that two-thirds of exhibition businesses have already experienced profit increases in the double digits in 2023.
Moreover, while 48% of companies globally plan to expand their workforce, similar optimism is prevalent in India, where many firms intend to increase staffing to leverage burgeoning opportunities. A notable trend is the alignment of new initiatives with existing portfolios, demonstrating a tailored approach to meet market demands.
The global shift towards technological integration, especially in AI and digital platforms, is mirrored in India, where businesses are increasingly utilizing technology to enhance attendee experiences and improve operational efficiency. Overall, while the global market is steadily recovering, India’s exhibition sector stands out with its rapid growth trajectory and robust profit margins.
How do you adapt to these market challenges, and what lessons have you learned in terms of crisis management and business resilience?
Yogesh Mudras: Navigating market challenges is essential for sustaining growth, particularly during exhibitions where unforeseen issues can arise. Effective communication remains foundational; maintaining open dialogue with partners ensures swift problem-solving and alignment on objectives. While it is impossible to predict every obstacle, meticulous planning lays the groundwork for managing surprises. Collaborating closely with exhibition companies to develop comprehensive strategies—from booth design to logistics—facilitates smoother execution.
Adaptability is vital when confronting unexpected situations, whether they involve venue changes, technical difficulties, or supply chain disruptions. It’s crucial for partners to be prepared to pivot and develop innovative solutions to keep events on track. Having contingency plans in place for potential setbacks, such as adverse weather or staffing issues, can significantly mitigate risks.
Promoting a proactive culture within your team and alongside partners encourages swift action to address challenges, enhancing the overall experience for attendees. Effective resource management becomes particularly important during tough times; collaborating with exhibition companies to streamline processes maximizes efficiency, whether it’s through budget optimization or manpower utilization.
Leveraging technology is also key; using digital tools can significantly enhance the exhibition experience. From virtual showcases to comprehensive online promotional efforts, these innovative methods help reach a wider audience. Maintaining a positive outlook fosters resilience within teams, allowing them to view challenges as opportunities for growth.
Finally, conducting thorough post-exhibition evaluations with partners provides valuable insights for refining future strategies. Investing in strong partnerships builds a foundation of trust and enables businesses to navigate unexpected challenges confidently.
Sustainability has become a critical focus in the events industry. How is Informa Markets integrating sustainable practices into its exhibitions, and what steps are being taken to reduce the environmental footprint of large-scale events?
Yogesh Mudras: Sustainability is the backbone of all our endeavours. Our exhibitions bring together industry leaders and innovators to showcase solutions to global challenges, thereby promoting sustainable economic growth.
In India, there is a notable shift towards operational sustainability, driven by a collective consciousness among organizers and attendees. Innovative strategies are being adopted to minimize carbon footprints, including the use of recyclable materials and digital technologies for virtual exhibits.
Informa Markets has made significant strides in this area with initiatives like the Better Stands Initiative, which phases out single-use stands and reduces paper printing. We are on track to cut approximately 11,000 kg of CO2 emissions annually through various sustainable practices. By harnessing renewable energy sources and collaborating with eco-friendly vendors, the exhibition industry can take the lead in sustainability efforts.
While the road to sustainability presents challenges, such as infrastructural limitations and bureaucratic hurdles, it also opens avenues for innovation. A recent Nielsen study indicates that 73% of Indian consumers are willing to pay a premium for sustainable offerings, signifying a critical shift in consumer behavior. Moreover, McKinsey estimates that adopting sustainable practices could unlock economic opportunities worth $1 trillion in India by 2030.
As stakeholders in India’s vibrant exhibition ecosystem, we share a collective responsibility to drive positive change. Operating nationwide, Informa Markets in India is committed to supporting industries and creating opportunities for impactful connections, shaping a sustainable future and advancing progress.
Maintaining long-term relationships with exhibitors is critical to the success of any exhibition. How does Informa Markets ensure strong, ongoing engagement with its exhibitors, and what innovative approaches do you use to add value to their participation?
Yogesh Mudras: At Informa Markets in India, nurturing long-term relationships with exhibitors is fundamental to our success. For instance, our flagship campaign, “Festivity of Business,” now in its fifth year, exemplifies our commitment to fostering business connections. This initiative aligns with India’s impressive economic growth trajectory, which is set to thrive in the coming years.
To ensure strong engagement, we implement a variety of innovative strategies. One key approach is the introduction of tech-enabled hybrid solutions that enrich the overall exhibition experience, allowing exhibitors to showcase their products more effectively while reaching a wider audience. Our events feature comprehensive product showcases and innovation incubators that highlight the latest trends and provide exhibitors with valuable exposure.
Our recently launched corporate film, “MILAN,” reflects our vision of transforming business opportunities through meaningful connections. By focusing on the theme of “Starting the Right Conversations,” the film showcases how we act as a catalyst for collaboration among businesses, inspiring both emerging entrepreneurs and seasoned professionals.
We have created several dedicated spaces where exhibitors can share their challenges and aspirations. This open dialogue enables us to gather insights that inform our strategies and enhance customer relationships. By prioritizing communication and understanding the needs of our exhibitors, we can offer tailored support and solutions.
Furthermore, our commitment to sustainability aligns with global trends toward eco-friendly initiatives, adding value for exhibitors who prioritize sustainable practices.
This holistic approach not only drives immediate business outcomes but also positions us as a leader in the Indian exhibition landscape, ready to support the growth of businesses in this rapidly evolving market.
Exhibitions have always played a pivotal role in fostering economic growth by providing platforms for business networking and deal-making. How do you view the contribution of exhibitions in supporting industries and economies?
Yogesh Mudras: At Informa Markets in India, we are proud to be a catalyst for industries to connect, conduct business, and grow. As the leading exhibition organizer in India, we are dedicated to helping specialized markets and customer communities trade, innovate, and prosper through our exhibitions, digital content, and conferences.
Every year, we host over 25 large-scale exhibitions and 40 conferences, alongside industry awards and training sessions across the country. These events enable trade across multiple verticals, fostering connections that drive innovation and economic growth. The global exhibitions industry is a significant economic contributor, generating over $325 billion annually and supporting approximately 3.2 million jobs worldwide. Exhibitors typically report an impressive ROI of 3 to 5 times their initial investment, demonstrating the tangible benefits of participating in trade shows.
Furthermore, these events boost local economies by attracting attendees from various regions, resulting in increased tourism, higher hotel bookings, and a surge in revenue for local businesses, from restaurants to transportation services. The exhibition sector not only drives economic growth but also fosters cross-border innovation and collaboration.
Through our exhibitions, we unite industry leaders and innovators to showcase solutions to global challenges and create pathways for sustainable economic growth. We believe in the power of face-to-face events to foster collaboration, inspire new ideas, and build a thriving global community.
Finally, what message would you like to share with the industry at large?
Yogesh Mudras: To the industry at large, I encourage a mindset of boldness and strategic collaboration. In this transformative and growth-focused landscape, it is imperative to embrace innovation and adaptability. By forming strategic alliances, businesses can leverage each other’s strengths, navigate challenges effectively, and seize new opportunities for expansion.
Let us explore uncharted territories and pursue ambitious goals with confidence. The future is bright for those willing to take risks and engage in meaningful partnerships. Together, we can harness the collective potential of our industries, fostering a thriving environment that not only drives economic progress but also nurtures a culture of collaboration and innovation. Let’s commit to building a vibrant exhibition ecosystem that empowers businesses to grow and succeed in this dynamic market
