How the New Indian Budget Impacts the Event Industry

By Nikitha Parmar | July 24, 2024

Title: How the New Indian Budget Impacts the Event Industry

Discover how the latest Indian budget influences the event industry, from infrastructure to digital initiatives, and what it means for event planners.

Impact of the Indian budget on event industry

The latest Indian budget has introduced several changes that could significantly impact the event industry. Here’s a look at how these budgetary shifts might influence event planning in India.

Introduction

The latest Indian budget has introduced several changes that could significantly impact the event industry. Here’s a look at how these budgetary shifts might influence event planning in India.

Impact: With the government’s increased allocation for infrastructure development, more venues and event spaces are likely to be built or upgraded, providing better facilities for events.

Impact: The budget’s focus on supporting startups and small to medium enterprises (SMEs) can encourage more entrepreneurs to enter the event industry, leading to increased competition and innovation.

Impact: Continued investment in digital infrastructure and technology will facilitate the growth of virtual and hybrid events, enhancing accessibility and reach.

Impact: The introduction of tax benefits for sustainable practices encourages event companies to adopt eco-friendly measures, which can attract environmentally conscious clients.

Impact: With increased budget allocation to promote tourism, there will be more opportunities for the event industry to host destination events and attract international clients.

Conclusion:

These budgetary changes are set to create new opportunities and challenges for the event industry. Staying informed and adapting to these shifts can help businesses maintain a competitive edge.