The Budget Doesn’t Hold Anything Specific For The Event Industry: Roshan Abbas, Ex-President, EEMA
Despite being one of the significant contributors to the GDP, the recent Union budget presented by the Finance Minister has very little to offer to the event industry.
Roshan Abbas, former president of EEMA shared his views on the budget for not having anything specific for the event industry..
Sharing his thoughts, Abbas said, “The budget doesn't hold anything specific for the event industry. I wish that we had become a focus. There seems to be a little ray of sunshine and the fact that tourism is being promoted, and of course, tourism can only be promoted by doing events and building experiences. Indigenous tourism is something that we should look at.”
It must be mentioned that the event industry is still struggling to get the status of an organised industry. The industry with a market valued at USD 3,674.95 million in 2022, is expected to reach USD 7,550.05 million by 2027, and currently generates employment to more than 20 lakh people.
Abbas further added that adding 20 per cent tax on money being sent abroad for anything apart from medical and children’s education is a little bit of a downer.
“When people have to do events, international conferences you're straight away adding a large amount of money, a cost to doing this. So while this may force companies to do events within India, and therefore a lot of the corporate events, etc, might end up happening within India, now it will be a little bit of a blow to all those people who wanted to do events and weddings, internationally”, he shared.
