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Hitex sees more trade expos despite slowdown
Our Bureau
Hyderabad, Nov. 18 Hyderabad International Trade Expositions Ltd (Hitex) is quite upbeat on attracting global expos to Hyderabad, despite the current slowdown.
“We have lined up at least 10 big shows during April 2009 and March 2010,” said Mr Sanjay Kapoor, Chief Operating Officer (COO) of Hitex.
Funds
An investment of Rs 1-1.5 crore would be required for these shows. Hitex was also in the process of signing an agreement with two British organisers, who will bring seven shows, he told newspersons here on Tuesday. Hitex, a joint venture between Larsen & Toubro and the Government of Andhra Pradesh, has been averaging about 18-20 fairs and exhibitions a year since inception in 2003.
This year it would be the same, but during 2009-10, about 30-35 shows are expected, Mr Kapoor said.
Pragati Maidan renovation
The growth driver would be, in addition to the advantage of the infrastructure at Hitex and Hyderabad, the closing down of Pragati Maidan, New Delhi, for a year for renovation.
Hitex is best positioned to attract shows from Pragati Maidan compared to the other options of Mumbai or Bangalore, he claimed.
The trade fair and exhibitions company had a turnover of Rs 13.5 crore last fiscal (minus service tax). It expects to close around the same this fiscal but scale to Rs 20 crore next year, Mr Kapoor said.
The Hitex COO said exhibitions offered the best opportunity and advantage to companies, vis-À-vis advertising, to benefit during a slowdown. He cited the recent heavy machinery exhibition where attendance was high and the exhibitors could sell most of their equipment.
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