Is India’s MICE Industry Set to Become a Key Economic Driver?
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Synopsis
India's MICE industry is gearing up to transform the economy by creating high-quality job opportunities. With innovative venues and strong government support, the country is set to establish itself as a global leader in the MICE segment, enhancing tourism and regional growth.
Key Takeaways
- MICE industry as an economic engine
- Creation of high-quality jobs
- Rapid growth projected
- Investment in infrastructure
- Global positioning of Indian cities
New Delhi, May 5 (NationPress) The MICE (meetings, incentives, conferences, and exhibitions) industry in India is poised to become a significant economic engine, creating high-quality jobs, according to a statement from the government on Monday.
During an event in Jaipur, Union Tourism Minister Gajendra Singh Shekhawat emphasized that the MICE sector is swiftly evolving into a global powerhouse, supported by strong economic growth, top-notch infrastructure, and solid government support.
“States are unveiling tourism opportunities in their unique styles — it’s time for India to firmly establish itself on the global MICE landscape,” the minister remarked to the audience.
With renowned venues such as Bharat Mandapam, Yashobhoomi, and Jio World Centre, and a special emphasis on MICE, “we aim to position at least 10 Indian cities among the world's premier MICE destinations,” he further stated.
Under the visionary leadership of Prime Minister Narendra Modi, and with states like Rajasthan at the forefront through innovation and legacy, India is ready to become the world’s most esteemed tourism and events hub.
The Indian MICE market generated a revenue of $49,402.6 million in 2024 and is projected to soar to $103,686.5 million by 2030, marking a growth rate of 13 percent.
This growth is driven by new MICE-ready destinations emerging in cities like Varanasi, Khajuraho, and Kochi.
Over the past decade, India has demonstrated remarkable infrastructure growth, including the construction of over 150,000 km of roads, new railway stations, semi-high-speed trains, inland waterways, more than 150 operational airports, and over 2.48 million hotel rooms.
Moreover, hosting the G20 nations has strengthened India’s venue network and regional tourism prospects.
As per Suman Bery, Vice Chairperson of NITI Aayog, the vision articulated by PM Modi during India’s G20 presidency has paved new avenues.
“It is now the responsibility of states to build on this momentum. From deregulation to concert tourism, India has the potential to become a global hub for events and experiences,” Bery emphasized.
Dr. Jyotsna Suri, Past President of FICCI, remarked that India is no longer just a leisure destination and “we are now ready to compete globally as a leading MICE destination.”
Point of View
India's commitment to enhancing its MICE industry is a strategic move that aligns with global trends. By investing in infrastructure and promoting tourism, the nation is not only creating jobs but also positioning itself as a leading player in the international MICE market. This approach reflects a broader vision of sustainable economic growth.
NationPress
11/06/2025
Frequently Asked Questions
What is MICE?
MICE stands for meetings, incentives, conferences, and exhibitions. It is a sector within the tourism industry that focuses on organizing and hosting events.
How is the MICE industry expected to grow in India?
The MICE market in India is expected to grow from $49.4 billion in 2024 to $103.7 billion by 2030, with a growth rate of 13 percent.
What are some notable MICE venues in India?
Notable MICE venues include Bharat Mandapam, Yashobhoomi, and Jio World Centre, among others.
How does the government support the MICE industry?
The government supports the MICE industry through infrastructure development, promotional initiatives, and policy frameworks aimed at enhancing tourism.
Why is the MICE industry important for India?
The MICE industry is crucial for India as it boosts economic growth, creates job opportunities, and enhances the country’s global tourism image.
