The Meetings, Incentives, Conferences, and Exhibitions (MICE) sector plays a pivotal role in driving tourism, fostering business collaborations, and generating significant economic impact. As the Union Budget of India 2025 approaches, stakeholders in the MICE industry are likely to have the following expectations:
Increased Budgetary Allocation for Tourism and Infrastructure
- Upgraded Facilities: Enhanced allocations for tourism and hospitality infrastructure, including convention centers, exhibition halls, and transport networks, to make India a global hub for MICE events.
- Tier-II and Tier-III Cities: Focused investments in developing MICE-ready infrastructure in smaller cities to promote regional growth.
These measures, if introduced in the Union Budget 2025, could transform the MICE sector into a key driver of economic growth, strengthen India’s position as a preferred MICE destination, and contribute significantly to tourism and allied industries.
M Q Syed
Editor-in-Chief, TradeFairTimes
Tax Incentives and GST Rationalization
- Lower GST Rates: A reduction or rationalization of GST on services related to MICE activities to make the sector more competitive internationally.
- Tax Breaks: Incentives for companies and organizers hosting large-scale domestic and international MICE events in India.
Ease of Doing Business
- Simplified Approvals: Streamlining of permissions and licenses required for hosting MICE events to reduce bureaucratic hurdles.
- Single-Window Clearance: Introduction of a single[1]window clearance system for event approvals to attract more international events.
Incentives for Global Promotion
- Marketing Campaigns: Increased funding for initiatives like “Incredible India” and “Dekho Apna Desh” to market India as a preferred MICE destination globally.
- Subsidies for Event Organizers: Financial support to Indian organizers bidding for global conferences and events.
Skilling and Workforce Development
Programs and budget allocations for skilling professionals in event management, hospitality, and related services to enhance service quality in the MICE sector.
Technology Integration
- Digital Support: Investment in technology-driven solutions like smart convention centers, digital ticketing systems, and AI based event management tools.
- Promotion of Hybrid Events: Support for hybrid event models (physical + virtual) to cater to global audiences.
Support for Sustainability Initiatives
- Green Initiatives: Encouragement of sustainable practices in the MICE sector with subsidies or incentives for eco-friendly event planning.
- Carbon Credit Benefits: Introduction of carbon credit systems for events following green protocols.
Visa Facilitation
- Simplification of visa processes for international delegates and organizers to encourage higher participation in Indian MICE events.
Policy Framework for MICE Tourism
- Introduction of a dedicated national policy for the MICE sector with actionable guidelines and objectives to position India as a global leader.
These measures, if introduced in the Union Budget 2025, could transform the MICE sector into a key driver of economic growth, strengthen India’s position as a preferred MICE destination, and contribute significantly to tourism and allied industries.