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Governments Should Support MSMEs in MICE Industry

Apr 13, 2020

A webinar on ‘Future of Our Industry: Service, Adapt, Evolve – A Global Perspective for Exhibitions & Conventions was organised by Exhibition Showcase on April 13, 2020. The session was moderated by Mr. Raghav Khosla, Group Editor, Exhibition Showcase, MICE Showcase. Ms. Rupa Naik, Senior Director, MVIRDC World Trade Center Mumbai was a panelist among the Indian speakers at the webinar.

Ms. Naik said, “As all industries undergo unprecedented disruption in their activities due to COVID-19, the exhibition industry too is no exception to it, facing big challenges. The worst hit are MSMEs who depend on the exhibition industry to showcase their products and services and generate sales. The government of India should waive off taxes and provide a good package for a period of at least six months, so that MSMEs who are greatly impacted can survive in such trying times. Till the exhibition industry comes out of this crisis, virtual and hybrid exhibitions should be the order of the day. MSMEs need handholding by World Trade Centers globally, to build back and get stronger. There should be online buyer-seller meets and collaborative ventures. Manufacturing sector has been badly hit and is in a state of shock. At this point of time they do not know where to begin. India depends on imports. Currently since no cross-border trade is taking place, adoption of import substitution is a must. Banks should come up with a stimulus package on sympathetic grounds so that MSMEs are able to avail of loans and credit to manage during this situation.”