The country’s growing economy has led to a rise in corporate MICE spending, including international events. As Indian companies expand globally, outbound MICE travel is increasing to accommodate overseas meetings, networking opportunities, and collaborations.

India’s outbound market is set to reach USD 18,817.72 million in 2024 and grow at a CAGR of 11.4% over the following decade, reaching approximately USD 55,388.41 million by 2034, fuelling global business ventures, according to a recent FICCI-Nangia knowledge paper.

With 27 million outbound travellers in 2024, India’s demand for international travel is stronger than ever. Projections are even more optimistic. Rahul Pandit, Managing Director Valor Estate estimates, “India’s airlift will grow 200% in 5 years, adding 1,400 aircraft to the existing 771. This portends sustainable travel and RevPARs for hotels. 34% of India is in its cities, which will be 50% by 2047. Per capita, $2,600 will reach $18,000 by then. These macros of uprooted urbanisation and increased income will boost travel. Elections in 40 countries this year will unlock business expansion CapEx. This will spur inbound travel, and yield strong MICE demand FY27 onwards.”

India is the second fastest-growing outbound travel market globally

India is the second fastest-growing outbound travel market globally, following China, driven by its rapidly expanding younger and educated population, rising middle class, and increasing disposable income. A key factor behind this growth is India’s youthful demographic, with the 15-54 age group currently comprising 47% of the population. This segment is expected to grow, making up 60% of the population by 2025 and 56% by 2050, fueling outbound travel in the years to come as per The International Trade Administration.

According to a report from Booking.com, produced in collaboration with knowledge partners McKinsey & Company, travel spending by Indians is projected to rise from $150 billion in 2019 to $410 billion by 2030. Although outbound trips make up only 1% of the total trips, they account for 25% of the overall expenditure—a figure that is expected to grow to 35% within the next decade. Additionally, the total number of trips is forecasted to double, increasing from 2.3 billion in 2019 to an estimated 5 billion by 2030, as per Indian tourism statistics.

Reiterating the outbound boom is an FMI report that states that India’s outbound tourism market is expected to reach USD 18,817.72 million by 2024 and grow at a CAGR of 11.4% from 2024 to 2034. This growth is largely fueled by the growing interest of Indians, particularly millennials, in travelling to international destinations. By 2034, the market value is projected to rise to USD 55,388.41 million.

Spending on outbound tourism is expected to grow from USD 18.82 billion in 2024 to USD 55.39 billion in 2034, the ‘Navigating Horizons’ report jointly prepared by Nangia NXT and FICCI said. Indian travelers are willing to spend up to $7,000 on international trips, making a significant economic impact on the destinations they visit.

There have also been measurable benefits to allied industries such as aviation and hospitality. Outward foreign exchange remittances have surged to an average of $1.42 billion per month in 2023-24, a significant rise from $400 million in 2018-19. Overseas tourist spending is projected to reach $55 billion by 2034 as per this report.

Understanding Indian Travellers: Key trends in India’s outbound tourism market

According to FMI, key trends in India’s outbound tourism market include a rising interest in culinary experiences, such as food tours, cooking classes, and global gastronomic adventures. Technology is playing an increasingly important role in trip planning, booking, and offering personalized experiences, with virtual reality tours and AI-driven recommendations growing in popularity.

Solo travel is becoming more accepted, particularly among millennials and Gen Z travellers. Adventure tourism is also gaining traction, with activities like trekking, camping, wildlife safaris, and water sports attracting more interest. Additionally, wellness tourism is on the rise, as health-conscious travellers seek yoga retreats, meditation centres, and spa resorts for relaxation and rejuvenation.

The U.S. Travel Association’s 2019 report highlights that Indian visitors to the United States primarily engage in activities such as shopping, sightseeing, visiting national parks, exploring art galleries and museums, enjoying fine dining, and exploring small towns and historical sites. Key motivators for Indians to travel to the U.S. include adventure, visiting friends and family, shopping, experiencing diverse food and cuisine, and connecting with nature.

A range of destinations benefit from Indian outbound Travel

According to a McKinsey report, the most popular outbound destinations for Indian travellers include the UAE, Thailand, Singapore, Indonesia, Maldives, Hong Kong, the US, Nepal, the UK, Canada, and Vietnam.

The U.S. Department of Commerce’s National Travel & Tourism Office (NTTO), shares in its report that the number of Indians visiting the United States rose by 190% from 2021 to 2022. In 2022, 1,256,915 Indian travellers visited the U.S., making India the 6th largest source of international arrivals. The value of U.S. tourism exports to India reached $13.3 billion that year.

As travel between India and the U.S. continues to grow, industry experts predict that by 2024, the number of Indian visitors will surpass pre-pandemic levels, reaching around 1,556,000 travellers. This steady increase in visitations reflects the strong demand for travel to the U.S. from India, positioning India as a key player in the U.S. tourism market.

New Zealand, another long-haul destination, has reported a record high of 70,100 visitor arrivals from India in the year ending August 2023, according to data released by Stats NZ. India now ranks as the fifth-largest source of overseas visitors to New Zealand, following Australia, the United States, the United Kingdom, and China.

India is the largest source market for destinations like Dubai and Singapore. According to the Dubai Department of Economy and Tourism (DET), India was Dubai’s top source market, with 1.9 million visitors in the first 10 months of 2023. Meanwhile, Saudi Arabia is targeting 7.5 million visitors by 2030. Highlighting the vast potential of India’s outbound travel market, Indians took 26.9 million overseas trips in 2019, before the pandemic. This number is expected to rise to 50 million departures by 2030.

Danielle Curtis, Exhibition Director ME at Arabian Travel Market, noted, “India’s outbound travel surge is largely driven by its expanding middle class. In 2020, only 37 million households had an annual income between $10,000 and $35,000, but with India’s rapid economic growth, that figure is projected to soar to 177 million households by 2030. Additionally, households earning over $35,000 annually will increase from two million in 2020 to 13 million by 2030—an impressive sixfold growth!”

In 2023, Singapore saw a footfall of 1.07 million visitors from India, which is 76 per cent of the pre-Covid era. During January-March, 2024 over 2,45,380 Indians have already visited Singapore, which is an 81.8 per cent recovery from the pre-Covid period.

As an example according to a report by the German National Tourism Board: In 2023, Indian travellers undertook 15.25 million outbound trips, with 2.8 million heading to Europe, including 311,000 to Germany which ranked as the 3rd most popular European destination.

Japan has emerged as a popular destination for Indian travellers, with a 53% rise in visitors since 2019. Vietnam has also captured the attention of Indian tourists, as new direct flights have more than tripled passenger traffic to the Southeast Asian nation.

Hong Kong welcomed 21 million visitors, including 181,000 from India, reflecting a 155% year-on-year increase (January to June 2024). The MICE segment accounted for 700,000 of these visitors, making it the fastest-recovering category.

India’s MICE travel saw a 117% increase in H1 2024 compared to H1 2018. Among Indian travellers, 20% visited for business, while 31% travelled for leisure. The majority of Indian tourists were aged 26-35 (24%) and 36-45 (29%). Delhi contributed the most visitors at 38%, while 15% of tourists came from tier 2 cities.

Strong MICE demand and a significant rise in corporate spending

With a significant rise in corporate spending on international events and the country’s growing economy, India’s outbound tourism market is expected to reach USD 13.4 billion by 2031.

According to a report by HITEX, India’s outbound Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism market is projected to reach a substantial value of US$ 13.4 billion by 2031. This growth is attributed to India’s expanding economy, which has driven corporate spending on international MICE events, as highlighted in the 2023 study.

According to the Global Business Travel Association (GBTA), business travel spending in India is expected to reach $38 billion this year, with a full recovery to pre-2019 levels anticipated by 2025. The rise in outbound MICE travel is largely fueled by Indian companies’ increasing global footprint, requiring more overseas meetings, networking opportunities, and collaborations. Additionally, increased consumer spending, visa reforms, social media visibility and commercial marketing efforts have also played a role in facilitating outbound MICE tourism from India.

MICE tourism has become a major revenue generator for the travel and tourism industry today. The UNWTO acknowledges the strong potential of the MICE sector and has played a key role in identifying and promoting top MICE destinations globally.

India is set to become the fastest-growing outbound MICE tourism market globally, projected to surpass $45 billion by 2025 as per the International Trade Administration. Collaboration between the travel and MICE sectors has been a critical factor in the market’s expansion, underscoring the vibrant growth potential of India’s outbound MICE tourism industry.

MICE groups are regarded as high spenders, as their travel and on-ground arrangements are typically funded by employers. These groups usually stay in premium hotels, with group sizes ranging from 30 to 700 participants. Their itineraries often span 6-7 days, covering 2-3 destinations, and include outdoor activities, soft adventure experiences, gala evenings, and shopping excursions as estimated by the International Trade Administration.

Key sectors like IT, pharmaceuticals, finance, and manufacturing are fueling growth through international trade exhibitions and conferences. Improved air connections, visa liberalization, and technological advancements like virtual meetings are making overseas MICE destinations more accessible, further boosting the industry.

Top MICE Destinations for India’s Outbound Travellers: Long-Haul No Barrier

Indian MICE travellers are exploring a wider range of destinations, broadening the industry’s scope. India’s MICE with the United States is an excellent example of long-haul MICE, demonstrating to other long-haul destinations that Indians do not mind long hours of travel when considering business or leisure activities.

Indian businesses are leading global optimism, with 72% expecting to increase spending on travel and entertainment, according to the Trendex: B2B edition survey commissioned by American Express and the Centre for Economics and Business Research (Cebr). This surge in corporate-led travel presents a significant opportunity for countries aiming to attract larger groups from India, not only for business travel but also for destination weddings.

The United States remains a highly sought-after destination for MICE travellers from India, with the potential for significant spending growth. MICE groups are considered high spenders as travel and on-ground arrangements are most often paid for by employers. Such groups mostly use high-end hotels with an average group size consisting of 30-700 pax. Typically, itineraries consist of 2-3 destinations spread across 6-7 days, with outdoor activities, soft adventure activities, gala evenings, and shopping trips. The most popular destinations in the U.S. for MICE tourism are Los Angeles, San Francisco, Las Vegas, New York, Washington DC, Niagara Falls, Miami, and Orlando.

In the long-haul destination category, Australia is a major recipient of Indian MICE travellers, with significant tourism receipts attributed to this segment. The Australian government estimates that business visitors contribute approximately AUD 7 billion annually to its economy, with a substantial portion coming from MICE activities. Sydney remains a key destination for incentive groups, especially from across Asia. While the insurance, financial, and health and beauty sectors have traditionally led the MICE market, there has been substantial growth in MICE activity from India, particularly from clients in the manufacturing and automotive industries.

Another long-haul destination seeing good MICE arrivals and corresponding receipts, South Africa has seen a marked increase in Indian corporate travellers, with around 46% of Indian visitors motivated by business travel. This sector is expected to contribute significantly to South Africa’s tourism revenue, which was projected at over USD 8 billion in 2023. South African Tourism aimed for a 35% increase in MICE travellers from India in 2023. The expectation is that this growth will continue, potentially exceeding 100,000 Indian visitors by 2024, given the rising interest in South Africa as a destination for corporate MICE.

Tourism New Zealand, a long haul destination has observed substantial growth in MICE travel from India, with multiple incentive groups already confirmed. According to the organization, attracting high-quality visitors is a priority, and this is defined by several factors: the diversity of activities they participate in, their travel across various seasons and regions, their engagement with local culture and communities, and their environmental consciousness. Indian MICE travellers fit these criteria well, as they tend to engage in numerous activities during their visits, reflecting their strong interest in experiencing all that New Zealand has to offer.

As a long-haul destination, Korea is seeing a recovery in tourism from India, with the Korea Tourism Organisation (KTO) India reporting a post-COVID recovery rate nearing 70%. By December 2023, they aim to reach 90% of pre-COVID levels, with a target of over 130,000 arrivals from India this year. Notably, MICE travel from India accounts for nearly 70% of the total inbound numbers, underscoring the significance of corporate and incentive travel in driving tourism growth.

Dubai remains a favoured destination for Indian MICE tourists due to its luxury infrastructure and services tailored for business events. The UAE’s tourism sector anticipates that MICE tourism will contribute around USD 4 billion annually, with India being one of the top source markets.

Dubai Business Events highlighted Dubai’s commitment to the Indian MICE market with the launch of its latest program. In 2023, India ranked as the top source of visitors to Dubai, underscoring the city’s appeal for business events. Additionally, Dubai has introduced a five-year multiple-entry visa for Indian travellers.

“As a key market for Dubai, India will continue to play a vital role in helping us achieve the goals of the D33 Agenda, further strengthening Dubai’s position as a hub for business, investment, and tourism,” said Bader Ali Habib, Regional Head of Proximity Markets at Dubai’s Department of Economy and Tourism.

Indonesia serves as a prime example of developing MICE arrivals with Indian tourists ranking sixth among international arrivals in Indonesia and second in Bali. Indian arrivals are largely driven by weddings, honeymoons, and MICE groups, prompting the Indonesian MoTCE to focus on these key segments. The ministry has responded to the rising MICE demand by enhancing promotions and collaborations to further develop this sector.

Indonesia has experienced a remarkable 28% growth in Indian tourist arrivals from January to July this year, welcoming 4.18 lakh visitors out of a target of 6.71 lakh. Based on current trends, the Indonesian government is confident of exceeding this target and is gearing up to host one million Indian tourists by December 2024. The government is focusing on attracting Gen Z travellers, wedding groups, educational tours from schools and colleges, as well as business professionals.

This surge underscores Indonesia’s growing appeal, particularly destinations like Bali, among Indian travellers. The increase is largely due to improved connectivity, with direct flights now operating from Delhi, Mumbai, Bangalore, and other major cities to popular Indonesian hotspots.

In recent years, Thailand has also seen a surge in Indian MICE arrivals, contributing significantly to its tourism revenue.

An emerging destination for corporate MICE travel, particularly for incentive groups, thanks to its strategic location and diverse offerings is Malaysia. According to Tourism Malaysia, the duration of stays for incentive groups has increased from three to four nights to four to five nights, highlighting the growing interest in the country. Additionally, FIT travellers are now extending their stays to seven to eight nights. MICE travel plays a crucial role in Malaysia’s tourism growth, with the country poised to attract more corporate events and incentive programs in the coming years.

Singapore has established itself as a leading MICE destination, with India being one of its top five markets for both leisure and corporate travel. The country was the first to launch its MICE programs in India, recognizing the rise in incentive travel from the region. Singapore‘s appeal as a MICE hub stems from its structured business environment, strict regulations, and status as a global financial centre, making it an ideal location for business meetings, conferences, and product launches. While Indian cuisine remains a key consideration for MICE groups, from India, there is a growing interest in exploring local cuisines during these trips.

The recent easing of visa regulations in countries like Thailand, Vietnam, Malaysia, and Kenya is anticipated to increase interest among Indian MICE travellers.

Key criteria for Indian MICE Planners when choosing destinations

In a fine analysis of the Indian MICE and corporate travel mindset, a recent Switzerland Convention and Incentive Bureau (SCIB Market Situation – India, March 2024) report suggests that while MICE is the biggest segment of the Indian outbound travel market, and has also been amongst the fastest to grow in 2022, it is important to understand what factors influence MICE decision making.

The report highlights that when shortlisting destinations for MICE travel, corporates or their MICE agencies consider several key criteria. These include essential factors such as adequate infrastructure for MICE activities, suitable event venues and high-quality hotels in the vicinity, as well as the range of activities available for the group post-business meetings.

Other equally important factors include budget considerations, flight connectivity, travel time, and ease of accessibility, particularly in terms of visa requirements. Corporates do prefer destinations that either do not require visas for Indians or offer e-visas or visas on arrival.

Currently, 50 countries offer visa-on-arrival and e-visa options to Indian citizens, while 27 nations, including Kenya, Tanzania, Myanmar, Thailand, Saint Lucia, Vietnam, Sri Lanka, Cambodia, and Tajikistan, permit visa-free entry. Over 30% of Indian travelers are choosing Middle Eastern destinations, with Dubai being a key market. This trend aligns with the fact that 70% of Indian travelers prefer destinations within a four-hour flight and with a notable Indian diaspora. South Asian destinations also remain popular.

According to a McKinsey report, Indian travellers consider flight fare, food, local experiences, and distance when choosing a destination.

The SCIB Market Situation reports that most destinations from around the world are keen to get a slice of this exciting market. Many countries are wooing the Indian market constantly. From Azerbaijan and Kazakhstan in the Eurasian region to Bahrain and Qatar in the Gulf, the list of the countries is immense. Most of the new players are pitching their novelty, ease of travel as well as cost competitiveness as their USPs to attract Indian travellers. Several destinations also flaunt their experience in handling large-scale events and their modern event spaces as well as large, luxurious hotels able to handle any kind of demand volume and cater to a global audience.

Beyond traditional tourist destinations, Indian travellers are now on a quest for novelty, craving authentic and immersive experiences, as highlighted in Booking.com’s report released in collaboration with knowledge partners McKinsey & Company. Indian travellers are largely influenced by social media platforms, TV shows and Indian cinema. That explains why travel brands engage in celebrity endorsements and partnerships. Mega events like sporting tournaments (ICC Men’s Cricket World Cup 2023), diplomatic meetings (G20 Summit 2023), music concerts (Lollapalooza) and many more also influence travel decisions. YouTube is the go-to platform among social media platforms for travel inspiration, followed by Instagram.

A key insight into India’s outbound MICE preferences can be drawn from Thomas Cook’s MICE Team, which was recognized for its exceptional performance in managing mid to large corporate MICE groups, ranging from 100 to over 2000 delegates, across diverse destinations. Popular locations for Indian MICE travellers included Iceland, Switzerland, France, Italy, Dubai, Denmark, Australia, Spain, Portugal, Abu Dhabi, Malaysia, Japan, Türkiye, Thailand, Africa, and Kenya. This reflects India’s growing demand for a wide array of international MICE destinations.

The Corporate MICE travel purchasers’ mindset

Corporate MICE travel purchasers play a pivotal role in orchestrating large-scale corporate events, often managing substantial budgets with high expectations for quality and efficiency. Drawing on insights from OptiMICE Events, a leading organizer of the MTM and LLTM Travel Exhibitions, now in its 26th edition, this report shares the mindset of these expert travel managers.

By understanding their mindset and addressing these pain points, suppliers and service providers can better cater to the needs of corporate MICE travel purchasers, ensuring long-term partnerships and successful events.

Key Characteristics of Corporate MICE Travel Purchasers

Corporate MICE travel purchasers are seasoned professionals, often referred to as expert travel managers due to their extensive experience in curating events for their organizations. Their expertise extends beyond basic travel logistics to encompass:

• Emerging Destination Awareness: They possess a keen awareness of new and trending destination hotspots, carefully selecting locations that offer value, appeal, and convenience for corporate events.
• Expert Negotiation Skills: With significant budgets to manage, these purchasers are skilled in negotiating competitive rates and squeezing margins, ensuring they receive the maximum return on investment for every dollar spent.
• High Expectations for Quality and Efficiency: Corporate purchasers demand fast responses and expect optimal service delivery, from accommodations to event planning, transportation, and catering.

Information Sharing and Market Intelligence

A distinguishing feature of corporate MICE travel purchasers is their extensive network of peers and their willingness to share insights. According to OptiMICE Events, these professionals routinely exchange notes on service providers, rates, and vendor recommendations, including:

• Vendor Performance: Corporate purchasers share their experiences with service providers, including positive recommendations and warnings about underperforming vendors.
• Logistics and Destination Challenges: Information about destination-specific issues such as visa difficulties, vegetarian food availability, and safety concerns are widely shared, enhancing the collective knowledge of the group.
• Market Intelligence: This collaborative approach ensures that corporate purchasers maintain a high level of market intelligence regarding current trends, prevailing rates for flights, hotels, and event planners, as well as safety and health considerations.

Adaptability and Decision-Making

Corporate MICE travel purchasers are known for their openness to new ideas and innovative solutions. They are quick to embrace suggestions that can enhance the quality and success of their events. This adaptability, coupled with their fast decision-making capabilities, makes them efficient managers who are always updated on the latest industry trends and developments.

The Reverse Marketplace organized by OptiMICE Events showcases this decisiveness, where suppliers are often surprised by the speed and clarity with which corporate purchasers assess options and make decisions. This quick turnaround is a key aspect of their operational mindset.

Challenges Faced by Corporate MICE Travel Purchasers

Despite their expertise, corporate MICE travel purchasers face several challenges that can complicate event planning and execution. The most common concerns include:

• Flight Duration and Visa Delays: Long flying hours to destinations and visa processing delays are significant pain points that can disrupt event timelines and cause logistical headaches.
• Currency Fluctuations: Exchange rates that fluctuate unpredictably can lead to overspending, affecting the overall budget of a MICE event.
• Budget Overruns: Staying within budget is a critical concern, and purchasers are meticulous in tracking expenses to avoid overshooting the allocated funds.
• Event Execution: Poor execution of MICE events, whether due to vendor shortcomings or mismanagement, is a major frustration. This impacts not only the success of the event but also the reputation of the corporate purchaser within their organization.

Corporate MICE travel purchasers are highly skilled, knowledgeable, and well-connected professionals who play an essential role in the success of large-scale corporate events. Their ability to negotiate, share intelligence, and make quick decisions is complemented by their openness to innovation and adaptability in managing complex logistics. However, they continue to face challenges related to travel logistics, budgeting, and vendor reliability.

India’s Corporate Travel Market: Understanding Market Dynamics

Deloitte’s latest report titled ‘Exploring India’s Corporate Travel Market: Understanding Market Dynamics, TMCs, and User Preferences’. The report underlines how India’s corporate travel sector, is valued at over US$10.6 billion and how this market is rapidly evolving, with businesses leveraging new technologies to streamline travel management and improve cost efficiency and the growing role of AI-powered, personalized, and sustainable travel solutions.

Key Highlights from the Report:

• India’s corporate travel market to double to USD 20.8 billion by FY2030.
• AI-powered chatbots and real-time data analytics are enhancing traveller experiences.
• Nearly 50% of business travellers now prioritize eco-friendly travel practices.
• SMEs account for 30% of the corporate travel market in India.
• 37% of business travellers extend trips for leisure, reflecting a rise in “B-leisure” trends.
• Top industries driving travel spending include IT, BFSI, pharma, and engineering.

Industries like IT services, banking and financial services (BFSI), engineering, aviation, oil and gas, pharmaceuticals, diversified sectors, metals, fast-moving consumer goods (FMCG), and automotive have emerged as the leading contributors to travel spending. Together, these sectors account for 86% of the total travel expenditure among the top 100 companies. Notably, industries that allocate more than 1% of their net income to corporate travel include IT services, pharmaceuticals, aviation, and engineering.

The Indian travel industry is projected to maintain its momentum, growing at approximately 9% CAGR to reach around US$97 billion (in constant currency) by FY2030. Within this, the corporate travel segment is anticipated to contribute between US$18 billion and US$23 billion (in constant currency), with the base case estimate being approximately US$20.8 billion, reflecting a CAGR growth of around 10.1%.

The coming decades present a tremendous opportunity for growth in India. If leveraged effectively, the travel sector could contribute approximately US$3 trillion to India’s GDP by 2047. Additionally, the emerging startup ecosystem must harness new technologies like Generative AI, AI/ML, and IoT 4.0 to meet the diverse needs of travelers, suppliers, travel managers, and travel management companies (TMCs). This approach will enhance the corporate travel segment’s ability to drive growth in the broader travel and tourism sector.

What’s Powering the Growth of India’s Outbound MICE Tourism?

According to DPI Research report, key factors influencing India’s Outbound MICE tourism growth:

• Economic Growth: India’s booming economy has led to higher disposable incomes, resulting in increased corporate budgets for international MICE events.
• Globalization of Businesses: As Indian companies grow internationally, the demand for global meetings and networking has surged, driving outbound MICE activity.
• Infrastructure Development: Major investments in convention centres, hotels, and transport infrastructure are making India more attractive for hosting international events.
• Government Support: Policies like the National Strategy for the MICE Industry, easier visa processes, and financial incentives are encouraging outbound MICE travel.
• Rising Education and Skill Development: An increasing interest in global exposure through conferences is fueling MICE tourism, particularly among students and professionals.
• Diverse Business Sectors: Key industries such as IT, pharmaceuticals, and finance frequently participate in global trade shows, adding to MICE growth.
• Corporate Incentive Programs: Companies are using outbound MICE travel as a reward system for employees, increasing participation in international events.
• Increasing Connectivity: Better air travel options and more affordable flights have made international MICE destinations easier to reach.
• Growing Awareness: Businesses are increasingly aware of the value of international MICE events for networking and sharing industry knowledge.
• Technology Advancements: Virtual and hybrid event formats have allowed continued participation in MICE activities, even during disruptions like the COVID-19 pandemic.

India is set to remain the fastest-growing economy among the G20 nations

Over the last decade, India has overcome challenges like demonetization, the pandemic, and global inflation. By focusing on technology, improving manufacturing, and increasing exports, India became a top destination for global investments. Despite tough conditions, the economy stayed strong, attracting $46.03 billion in foreign investment in 2023, while its startup ecosystem grew from 471 in 2016 to over 92,000 in 2023.

India ranks 5th in the world GDP rankings for 2024, showcasing a diverse and rapidly growing economy. Key sectors such as information technology, services, agriculture, and manufacturing drive this expansion. The country leverages its large domestic market, a youthful, tech-savvy workforce, and a growing middle class.

Global rating agency Moody’s has revised India’s GDP growth forecast for 2024 to 6.8%, up from its previous estimate of 6.1%. This adjustment reflects India’s strong economic performance in 2023 and the easing of global economic pressures. Moody’s also highlighted in its Global Macroeconomic Outlook for 2024 that India is set to remain the fastest-growing economy among the G20 nations.

Industry segments investing in MICE. The following industries contribute to global MICE events:

• Government and Development agencies such UN, WHO etc.
• Environment & other SDG Goals
• Food security (iv) Healthcare & Medical
• Information Technology (AI, Big Data, Cloud, IoT)
• Engineering & Modern Manufacturing (4.0. etc.)
• Urban Mobility & Transportation
• Cyber security & Homeland Security
• Defence
• Textiles & Fabrics
• Energy, Power & Electricity
• Chemicals, Plastics & Rubber
• Engineering & Electronics
• Travel & Tourism

India’s economic landscape is transforming rapidly, with key sectors like IT, healthcare, and renewable energy set to grow significantly in 2024. The IT sector alone contributed 7.4% to the GDP in 2022, while fintech, pharmaceuticals, and the automotive industry are also seeing remarkable growth. The pharmaceutical industry, worth $50 billion, is a key global player, exporting to over 200 nations.

India’s automotive sector is the world’s second-largest for two-wheelers and is progressing towards becoming a leader in electric vehicles by 2030. The insurance industry is projected to grow at 7.1% annually, outpacing global averages, while the aviation sector is the third-largest domestic market worldwide, with a rising number of airports and increased sustainability efforts. Additionally, India’s cement industry is the second-largest globally, attracting foreign investments and positioned to become a major exporter in the coming years.

Major Indian industries and sectors which contribute to Outbound MICE travel

India’s Aviation Sector:

India’s aviation sector is rapidly growing, driven by high demand and supportive government policies. Now the third-largest domestic aviation market globally, after the USA and China, India has expanded its operational airports from 74 in 2014 to 148 by April 2023, with plans for 190-200 by 2040.

The Indian government’s policies have significantly boosted this sector, with domestic passenger traffic increasing by 19.4% and international traffic by 26.2% during April-October 2023. Sustainability is a key focus, as shown by Delhi and Mumbai airports receiving Level 4+ Carbon Accreditation for their efforts in reducing carbon footprints and promoting eco-friendly aviation practices.

India’s  Pharma Industry:

India holds a significant position in the global pharmaceutical sector, ranking among the top 12 biotechnology destinations worldwide and 3rd in the Asia-Pacific. In 2022, India’s biotechnology industry reached US$ 80.12 billion, a 14% growth from 2021. Indian pharmaceutical exports serve over 200 countries, supplying 50% of global vaccine demand, 40% of US generic drug demand, and 25% of UK medicines.

With over 3,000 drug companies and 10,500 manufacturing units, the industry is projected to reach US$ 65 billion by 2024 and US$ 130 billion by 2030. Leading Indian companies include Sun Pharma, Cipla, and Dr. Reddy’s Laboratories.

India’s  FinTech Industry:

India’s fintech sector is growing rapidly due to the rise of digital payments and smartphone usage. Fintech combines finance and technology to offer innovative financial services, helping businesses work faster and smarter. With around 87% of Indians using fintech products, the adoption rate is 23% higher than the global average, according to the Economic Survey 2022-23.

The industry is expected to reach $141 billion by 2025. Key players in India’s fintech space include Paytm, PhonePe, Razorpay, Mobikwik, PolicyBazaar, and Google Pay, contributing to the sector’s impressive growth.

India’s  Automotive Industry:

India’s automotive industry is a key pillar of the economy, ranking second globally in two-wheeler production, seventh in commercial vehicles, sixth in passenger vehicles, and first in tractors. In FY23, India exported over 4.7 million vehicles and employs around 19 million people. By 2030, India aims to become the largest electric vehicle (EV) market, with 30% of new vehicle sales being electric.

 Key companies include Maruti Suzuki, with 41.6% of the passenger vehicle market, Tata Motors, present in 175 countries, and Hero MotoCorp, the world’s largest two-wheeler manufacturer, active in South Asia, Africa, and Latin America.

India’s Cement Industry:

India is the second-largest cement producer globally, contributing over 8% of the world’s installed capacity. The sector’s growth is driven by abundant raw materials like limestone and coal, as well as rising demand from rural housing and smart city developments. Foreign investments from companies like Lafarge-Holcim and Heidelberg Cement have boosted the industry.

FDI inflows reached $5.50 billion from 2000 to 2023. India is expected to become a leading exporter of clinker and grey cement to the Middle East and Africa. Major Indian companies include UltraTech Cement, ACC, Ambuja, Ramco, Dalmia, Shree, JSW, and JK Cement.

The Indian MICE tourism market is on a strong growth trajectory, driven by a mix of economic factors, government initiatives, infrastructure improvements, and a growing recognition among businesses and individuals of the value of participating in international events. With India’s expanding global business footprint, this upward trend in outbound MICE tourism is expected to continue.

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When one thinks of some of the most prominent philanthropists in India, the name that stands out is Ratan Tata. In popular consciousness, the Tata family stands as a cornerstone of the Indian economy, a force to be reckoned with. Their impact on India’s growth and development spans over five generations, shaping the nation into what it is today.

Founded in 1868, the Tata Group stands as India’s largest private conglomerate, boasting a diverse portfolio with products spanning hundreds of offerings and a global presence in more than 150 nations. 

This remarkable success owes much to the visionary leadership of Tata stalwarts such as Jamsetji Tata, Dorabji Tata, and J.R.D. Tata.

The Tata Legacy

For over five generations, the Tata family has contributed immensely to the growth and development of India which has helped the country become what it is today. Established in 1868, the Tata Group is India’s largest private conglomerate with hundreds of product offerings and footprints in more than 150 nations across the world. The success, however, has come with the able and visionary leadership of several Tata stalwarts, including Jamsetji Tata, Dorabji Tata, and JRD Tata. 

Ratan Tata, the torchbearer of his family’s legacy, has propelled their tradition of excellence forward. His multi-billion dollar conglomerate encompasses a wide array of sectors, from IT services to civil aviation.

Beyond his business acumen, he shines as a compassionate humanitarian, untainted by the trappings of fame and success. In a nation grappling with pervasive poverty, Tata stands among the select few industrialists who are revered as much for their philanthropy as their business prowess.

The Tata Trusts

In recent years, Tata like many of his peers has taken his philanthropic spirit to the realms of environment, clean energy and community development. In accordance with the Paris Climate Agreement Goals, Tata Trusts – the philanthropic arm of the organisation – has been providing free and clean cooking energy to overcome the challenges of using biofuel.

The trust has also been empowering rural entrepreneurs to provide last-mile energy services besides upskilling them. This clean energy initiative has worked wonders for poor families in Manipur.

It has spawned a new breed of energy entrepreneurs who have immensely benefitted from the scheme, by generating livelihood activities. 

Environment Conservation

As a leading business enterprise, Tata Trusts know the value of protecting the environment. As such, the conglomerate has invested heavily in protecting fragile ecosystems and conserving at-risk species. The Tata Reef Recharge project that began in 2011 in the Maldives has seen the regeneration of coral reefs on the island.

On the site of its soda ash facility in Mithapur, Gujarat, Tata Chemicals has created a 150-acre reserve that shelters 21 species of native plants and more than 114 species of other vegetation. Additionally, TCS has been instrumental in protecting 6,000 Olive Ridley Turtle hatchlings. 

Community Development      

Since its inception, 150 years ago, the group has been involved in the development of the local community. The group works with NGOs as well as local and central governments to provide education to vulnerable communities across India.

Masti Ki Pathshala run by Tata Steel in Jamshedpur provides free education to street children and child labourers to end the scourge of child labourers in India.

Titan Kanya, one of the flagship CSR programmes of the watch company, has worked with NGOs to provide quality education to more than 17,000 girls across the country. 

While Tata may not be among the wealthiest individuals globally, his impact on the country’s progress resonates deeply.

In a society fixated on market valuations and personal fortunes, Tata’s enduring legacy lies in his significant contributions to the nation’s growth. Despite his retirement from active business, his wisdom and values persistently shape the Group’s board decisions.

Driven by a commitment to fostering positive change rather than mere profits, these directors are guided by empathy, compassion, and a strong urge to give back. As a result, the Group consistently captures the admiration and affection of millions of Indians. 

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Ajay Piramal is an Indian billionaire who is committed to bringing social change through investments in education, digital technology, and tribal welfare.

With an estimated USD 3 billion of personal wealth, he is not only one of the richest persons in India, but he is also one of the most generous philanthropists who is working tirelessly to transform the country. 

Welfare for All

He was born into a business family in Rajasthan and joined his father’s business in his early twenties. He was forced to take over his family’s mantle when he lost both his father and elder brother in quick succession. 

Over the years he has established himself as a pharma giant through a string of acquisitions, such as Nicholas Laboratories, and the subsidiaries of Roche, Boehringer Manheim, Rhone Poulenc, ICI, etc.

He also invested in Vodafone and bought an 11% stake in the company that he later sold. He is also a shareholder in Shriram Capital and currently serves as its chairman.

Beyond his remarkable success in the corporate world, he is equally dedicated to social causes that include tribal welfare, digital technology, and education. This article delves into his noteworthy efforts and accomplishments in these areas, highlighting how he combines his business acumen with a commitment to making a positive impact on society.

Tribal Welfare Initiatives

His commitment to tribal welfare stems from a profound sense of social responsibility.

In India, tribal communities often face significant challenges such as lack of access to quality healthcare, education, and livelihood opportunities. To address these issues, he has initiated and supported several projects aimed at improving the lives of these marginalized populations.

One of his notable endeavours is the Piramal Foundation, which focuses on empowering tribal communities through healthcare and education.

The foundation operates in various tribal regions, delivering healthcare services, promoting maternal and child health, and facilitating access to clean drinking water.

By doing so, he has made a substantial impact on the health and well-being of thousands of tribal individuals and families.  

Digital Technology and Innovation    

Recognizing the transformative potential of digital technology, Ajay Piramal has been a pioneer in integrating technology into various sectors to drive positive change.

In the field of healthcare, he has championed the use of digital solutions to enhance patient care, diagnostics, and healthcare accessibility. 

His initiatives have included telemedicine services, digital health records, and the development of mobile apps for health monitoring and education.

Moreover, his investments in the fintech sector have played a crucial role in expanding digital financial services across India. These innovations have improved financial inclusion for marginalized populations, including tribal communities, by providing them with easier access to banking and financial resources. 

Education for Empowerment

Education is a powerful tool for social transformation, and Ajay Piramal has consistently demonstrated his commitment to promoting quality education. He believes that education is the key to unlocking the potential of individuals, particularly those from underserved communities.

Presently, the Piramal Foundation operates in 25 states, touching the lives of more than 112 million individuals, largely through collaborations with state governments via initiatives such as Piramal Swasthya, Piramal Sarvajal, and the Piramal School of Leadership.

In partnership with NITI Aayog, India’s premier policy think-tank, the Piramal Foundation has embarked on projects in 25 Aspirational Districts spanning 7 states within India, aiming to enhance human development indices in Healthcare & Nutrition and Education among the underserved communities.

Piramal Foundation’s ‘Sarvajal’ initiative, for instance, focuses on providing quality education to children in rural and tribal areas.

The foundation has established schools, learning centres, and vocational training programs, offering children and young adults a chance to gain valuable skills and knowledge that can help them lead more prosperous lives.

Additionally, his support for educational institutions and scholarships has helped countless students from disadvantaged backgrounds access higher education, fostering a sense of hope and aspiration within these communities.

his commitment to tribal welfare, digital technology, and education showcases his visionary leadership and deep-rooted sense of social responsibility.

By combining his business acumen with a strong sense of purpose, Ajay Piramal exemplifies how corporate leaders can make a meaningful difference in society. His dedication to the underprivileged serves as an inspiring example for others to follow.

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In the world of business, where fortunes are made and lost, one name stands out not just for its wealth but for its profound impact on humanity: Bill Gates. While he co-founded Microsoft and played a pivotal role in shaping the technological landscape we live in today, his legacy is equally defined by his remarkable charity work through the Bill and Melinda Gates Foundation.  

Established in 2000 by Bill Gates and Melinda Gates, this foundation has emerged as a beacon of hope, championing numerous causes and making a tangible difference in the lives of millions around the globe, but especially in the global south.   

Rise to Prominence

As the co-founder of Microsoft Corporation, Bill Gates played a pivotal role in the personal computer revolution of the 1970s and 1980s. In 1975, he and his childhood friend Paul Allen launched Microsoft, which became a global powerhouse in the software industry. Gates’ vision and leadership were instrumental in the development of the iconic operating system MS-DOS and later the widely successful Windows operating system.  

Eradicating Diseases

One of the foundation’s flagship initiatives is its commitment to global health. Gates Foundation has been instrumental in eradicating deadly diseases like polio and malaria. Through extensive funding, research, and collaboration with other non-governmental organizations, the foundation has significantly reduced the number of polio cases worldwide, bringing humanity closer to eradicating this debilitating disease.

In the fight against malaria, the Gates Foundation has funded research for the development of innovative tools to combat the disease. The Foundation has supported the distribution of insecticide-treated bed nets in malaria-prone regions, preventing countless deaths, especially among children under the age of five. These efforts have not only saved lives but have also strengthened healthcare systems in affected regions. 

Empowering Minds

Education has always been a cornerstone of the Gates Foundation’s initiatives. Bill Gates and Melinda Gates believe that every child deserves access to a quality education, regardless of their socio-economic background.  

The Foundation has invested heavily in education reform efforts, focussing on improving K-12 education in the United States and enhancing educational opportunities globally.

Through various programs and partnerships, the Foundation has worked towards providing teachers with the necessary training and resources to deliver high-quality education. It has also supported research initiatives aimed at understanding the most effective teaching methods, ensuring that students receive the best possible education.

Fostering Equality

The Gates Foundation has been a staunch advocate for gender equality, emphasizing the importance of empowering women and girls worldwide. By investing in initiatives that provide women with access to healthcare, education, and economic opportunities, the foundation is breaking down barriers that have held back generations.

In developing countries, the Foundation has supported projects that focus on maternal and child health, ensuring that women receive proper healthcare during pregnancy and childbirth.

By addressing these critical healthcare needs, the foundation saves lives and empowers women to lead healthier, more fulfilling lives.

Tackling Global Challenges

Beyond their specific initiatives, the Gates Foundation actively supports innovative research and projects aimed at addressing pressing global challenges. The foundation is at the forefront of driving positive change, from funding research to develop new vaccines to supporting innovative agricultural practices that enhance food security in impoverished regions.

Through its Grand Challenges program, the foundation invites innovators and researchers from around the world to submit bold ideas and projects that tackle complex problems.

By providing funding and resources to these initiatives, the foundation catalyses innovation, encouraging scientists and researchers to explore novel solutions to some of the world’s most daunting challenges.

A Legacy of Compassion

Bill and Melinda Gates’ dedication to philanthropy has transformed countless lives, fostering a legacy of compassion, commitment, and positive change. Through their foundation, they have demonstrated that wealth, when used wisely and compassionately, can be a powerful force for good. 

As their charitable work continues to make a meaningful impact globally, the Gates Foundation serves as a beacon of hope and inspiration, reminding the world of the incredible change that is possible when individuals and organizations come together to make a difference.

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Azim Premji, the renowned Indian business tycoon and philanthropist, is a name synonymous with transformative social change. Through his unwavering commitment to philanthropy, Premji has made significant contributions to education, healthcare, and social development, leaving an indelible mark on the lives of millions. Here, we explore the various facets of Azim Premji’s philanthropy, highlighting specific examples of his impactful initiatives.

A Remarkable Journey

Azim Premji, the renowned Indian business tycoon and philanthropist, embarked on a remarkable journey that transformed him into a global icon. He inherited the family business, Wipro, at the young age of 21, after the sudden demise of his father in 1966. With determination and foresight, Premji steered Wipro, a small cooking oil company, into a leading IT services and consulting corporation. 

Under his visionary leadership, Wipro expanded its horizons, becoming a global player in the IT industry. Premji’s commitment to excellence and innovation turned Wipro into one of India’s most respected companies, creating thousands of jobs and driving economic growth.

Beyond business, he displayed extraordinary generosity, pledging a significant portion of his wealth to philanthropic causes through the Azim Premji Foundation. This organization focuses on improving education in rural India, and ensuring access to quality schooling for underprivileged children. Premji’s journey is a testament to his entrepreneurial spirit, social consciousness, and enduring legacy in the realms of business and education.

Education for All

One of Azim Premji’s key philanthropic areas is education. He established the Azim Premji Foundation in 2001, with a vision to improve the quality of education in rural India.

The foundation focuses on teacher training, curriculum development, and infrastructure support. A standout example of his commitment is the Azim Premji University, a leading educational institution dedicated to nurturing socially responsible professionals. The university offers various undergraduate and postgraduate programs, empowering students with knowledge and skills to address societal challenges.

Technology for Social Change

Recognizing the potential of technology in driving social change, Azim Premji has utilized his philanthropic efforts to bridge the digital divide. His foundation has initiated several programs to provide computer literacy and digital education in remote and underserved communities.

Through initiatives like the Wipro Digital Literacy Van, equipped with computers and internet connectivity, the foundation has enabled access to information and digital skills, empowering individuals to participate in the digital age.

Healthcare Initiatives

Premji’s philanthropy extends to healthcare, aiming to improve the overall well-being of communities. The Azim Premji Foundation has collaborated with various healthcare organizations to establish primary healthcare centres and provide medical services in rural areas.

Additionally, Premji’s foundation has supported vaccination drives, maternal health programs, and disease prevention initiatives, contributing significantly to reducing healthcare disparities in marginalized communities.

Disaster Relief and Rehabilitation    

In times of natural disasters, Azim Premji has demonstrated swift humanitarian response. His foundation has been actively involved in disaster relief efforts, providing immediate aid, shelter, and rehabilitation support to affected communities. Whether it’s floods, earthquakes, or other calamities, Premji’s philanthropic initiatives have offered hope and assistance to those in need, helping them rebuild their lives.

Support for NGOS And Social Enterprises     

Azim Premji’s philanthropy also extends to supporting non-governmental organizations and social enterprises working towards social welfare. His foundation provides grants, mentorship, and capacity-building support to grassroots organizations, enabling them to expand their reach and impact. By nurturing these initiatives, Premji fosters a culture of collaboration and shared responsibility in the social sector.

Azim Premji’s philanthropic journey stands as a testament to the power of giving. His multifaceted approach, spanning education, healthcare, disaster relief, and support for grassroots organizations, showcases the breadth and depth of his commitment to social change. It is evident that Azim Premji’s legacy goes beyond business success; it encompasses a profound dedication to improving lives and creating a more equitable society.

As a beacon of philanthropy, Premji continues to inspire others to join the noble cause of making the world a better place for everyone.

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In the glitz and glamour of the global entertainment industry, few stars manage to shine as brightly. Beyond her cinematic accolades, Priyanka has emerged as a formidable force in the realms of community development, environmental conservation, and sustainability.

Her commitment to making the world a better place extends far beyond the silver screen, setting an inspiring example for her fans worldwide. While people mostly know her for her on-screen glamour, her beauty-queen status, and her million-dollar wedding, she has been long involved in charity and philanthropy working closely with organisations like the UN. However, it is only recently (more specifically after her move to Hollywood) that the world has woken up to her contributions and her deep impact.

CHAMPIONING CAUSES

Through her foundation, “The Priyanka Chopra Foundation for Health and Education,” Chopra champions the cause of underprivileged children in India, focusing on their educational and health needs. She allocates ten per cent of her income to support the foundation’s initiatives, directly covering educational and medical costs for seventy children within the country, ensuring that fifty of these beneficiaries are girls.

Chopra is a fervent advocate for women’s rights, consistently raising her voice against practices like female infanticide and foeticide, and championing the cause of education for girls. As a staunch feminist, she actively promotes discussions around women’s rights, gender equality, and the gender pay gap.

In a notable gesture of philanthropy, Chopra’s “day with Chopra” experience was auctioned on eBay in 2006, with the proceeds benefitting Nanhi Kali, an NGO dedicated to the education of girls in India. Beyond this, she has lent her support to various charitable causes, including participating in the 2005 HELP! Telethon Concert, aimed at gathering funds for the victims of the 2004 Indian Ocean earthquake.

Since 2006, Chopra has collaborated with UNICEF, engaging in activities such as recording public service announcements and participating in media panels to advocate for children’s rights and the education of girls. Her involvement also marked the 20th anniversary of the Convention on the Rights of the Child. In recognition of her efforts, she was appointed the national UNICEF Goodwill Ambassador for Child Rights on 10 August 2010, a role through which she continues to make significant contributions to the welfare of children around the world.

FOCUS ON EDUCATION:

Chopra’s journey in community development began in her homeland, India when she established the Foundation for Health and Education, focusing on providing support to unprivileged children across the country.

Through this foundation, she has spearheaded numerous initiatives, including building schools, providing educational resources, and promoting healthcare in underprivileged communities. Her foundation’s efforts have touched the lives of thousands, giving them access to quality education and healthcare, and empowering them to break the cycle of poverty.

ENVIRONMENTAL CONSERVATION:

Recognizing the urgent need to address environmental issues, Chopra became a UNICEF Goodwill Ambassador for Child Rights in 2010. In this role, she worked tirelessly to raise awareness about climate change and its impact on children worldwide.

She actively participated in various campaigns aimed at promoting environmental conservation, emphasising the importance of sustainable practices to safeguard the planet for future generations. Chopra’s advocacy in this area has been instrumental in galvanising public support for eco-friendly initiatives and policies.

A CONSCIOUS BUSINESSWOMAN

Priyanka Chopra has also been a vocal advocate for sustainability, advocating for conscious living and responsible consumerism. She has been a champion of eco-friendly fashion, supporting designers and brands that prioritise sustainable practices and ethical production.

By leveraging her influence in the fashion industry, she encourages the adoption of sustainable materials and ethical manufacturing processes. Priyanka also invests in and promotes sustainable startups, like Anomaly, fostering innovation in the field of green technology and renewable energy.

GLOBAL IMPACT:

Chopra’s dedication to community development, environmental conservation, and sustainability transcends borders. She actively participates in global forums, engaging with leaders and organisations to drive meaningful change. Her work with the United Nations and other international bodies has elevated crucial issues onto the global stage, inspiring collective action. Through her advocacy, she continues to emphasise the interconnectedness of humanity and the planet, urging people to unite for a more sustainable future.

Chopra’s multifaceted efforts in community development, environmental conservation, and sustainability have established her as a beacon of hope and inspiration. Her unwavering commitment to making a difference serves as a reminder that celebrities, with their influence and resources, can be powerful catalysts for positive change.

MILESTONES

Crowned Miss World in 2000, Chopra has ascended to become one of India’s most esteemed and well-compensated actresses, amassing a collection of accolades that includes two National Film Awards and five Filmfare Awards. The Government of India bestowed upon her the prestigious Padma Shri in 2016, a testament to her indelible impact on the arts.

Further cementing her global influence, Time magazine recognized her as one of the 100 most influential people in the world, an honour followed by her inclusion in Forbes’ list of the World’s 100 Most Powerful Women. In 2022, her remarkable journey and contributions were acknowledged once more as she graced the BBC 100 Women list, solidifying her status as a trailblazer and icon on both national and international stages.

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Nita Ambani is just not another First Lady – a plus-one to a powerful and rich industrialist in India. She, in her own right, is a visionary philanthropist working tirelessly to uplift millions of artisans, artists, women and children across India.

Therefore, in the realm of philanthropy and social initiatives, Ambani stands out as a beacon of inspiration, making remarkable strides in areas such as sustainability, community development, and the promotion of Indian culture.    

As a beacon of inspiration

At the helm of Reliance Foundation, she’s on a mission to transform millions of lives across India, igniting hope and opening doors to endless possibilities. Her role as the visionary owner of the Mumbai Indians—cricket giants of the Indian Premier League—and as the pioneering force behind the Indian Super League, through Football Sports Development Limited, cements her position as a titan in the world of sports. Beyond the field, her passion extends to nurturing young talents with the Education and Sports for All initiative, shaping the champions of tomorrow.

Her commitment to societal welfare shines brightly through the Sir H N Reliance Foundation Hospital and Research Centre in Mumbai, where she envisions affordable, world-class healthcare for every Indian citizen. Breaking new ground, she stands as the first Indian woman to join the International Olympic Committee and the first Indian to be honoured as an Honorary Trustee at the Metropolitan Museum of Art, New York, marking her influence on a global scale.

Celebrated by the US’s Town and Country as one of the world’s foremost philanthropists, lauded by Forbes among the 50 most powerful businesswomen in Asia, and named by Fortune India as India’s Most Powerful Woman, she is a beacon of empowerment, innovation, and philanthropy. Through her dynamic leadership and compassionate vision, she is not just creating a legacy; she’s crafting a brighter future for India and beyond.

The Head of Reliance Foundation

As the founder and chairperson of the Reliance Foundation (operating since 2010), her unwavering dedication has touched countless lives, reshaping communities and fostering a brighter, more sustainable future for all.

Sustainability

One of Nita Ambani’s pivotal contributions has been in the realm of sustainability. Recognizing the urgent need for environmental stewardship, she has championed various initiatives to promote eco-friendly practices and raise awareness about environmental conservation.

Under her guidance, the Foundation has implemented large-scale projects focused on renewable energy, waste management, and water conservation. By harnessing the power of sustainable technologies, these initiatives have not only reduced the carbon footprint but have also empowered local communities to adopt green practices in their daily lives.

Rural Transformation

In the sphere of community development, Nita Ambani’s efforts have been nothing short of transformative. She has spearheaded numerous programs aimed at enhancing healthcare, education, and overall quality of life in rural and underserved areas. These initiatives include building healthcare facilities, providing access to clean drinking water, and establishing schools that offer quality education to children who previously had limited or no access to schooling.

Two of Reliance Foundation’s initiatives have shown wonderful results.

While the Bharat India Jodo helps rural communities take collective action towards sustainable livelihood, Reliance Foundation Information Services offers crucial data to communities on weather, fishing, farming, livestock rearing and management.

Promotion of Culture

Furthermore, Nita Ambani’s commitment to preserving and promoting Indian culture is truly commendable. Through various cultural initiatives, she has revitalized traditional art forms, music, dance, and crafts, ensuring that the rich heritage of India continues to thrive in the modern world.

By supporting local artisans and organizing cultural events, she has not only preserved the cultural fabric of the nation but has also provided artists with platforms to showcase their talents globally.

Perhaps the best expression of this support has been the opening of the Nita Mukesh Ambani Cultural Centre in Mumbai which offers a safe space for artists, musicians and actors to showcase their talent.

Nita Ambani says: “An ode to our nation, the Cultural Centre aims to preserve and promote Indian arts. I hope our spaces nurture and inspire talent, bringing together communities from across India and the globe.”

In a statement she said, ” At the age of six, I chose to learn Bharatnatyam, a classical Indian dance form. It was a choice that empowered me, gave me confidence, and helped shape the person I am today. It became a form of devotion. Even today, dance is my meditation, my connection with the Divine.

“As someone so deeply touched by the arts, it has been my greatest honour to have worked with artists and craftspeople for a long time through our Reliance Foundation. I have seen first-hand the magical transformation that art makes possible. It gives hope, creates solidarity, nurtures imagination, and embraces divergence.

“The time has come to mark a new beginning for our longstanding commitment to art and culture. With immense joy, I am delighted to present to you the realization of a life-long dream – the Nita Mukesh Ambani Cultural Centre. The NMACC is a space that hopes to bind the community through the common thread of the arts. It is a tribute to India’s glorious legacy, traditions, and heritage. 

“For the last few years, my daughter Isha and I along with our team have immersed ourselves in this dream project. The NMACC is envisioned as a platform to spotlight Indian arts and culture at its best, both for the audience and the artists. A truly inclusive centre for performers and visitors, for dreamers and creators, for one and all. With world-class infrastructure and robust programming, our aim is to make the arts accessible to everyone. 

“An ode to our nation, the NMACC is our commitment to preserve and promote Indian arts. I hope our spaces nurture and inspire talent, bringing people together from across India and the world. I look forward to seeing you at the Nita Mukesh Ambani Cultural Centre. And I hope that you make memories of a lifetime when you visit!”

Transforming Lives

Ambani’s philanthropic efforts extend beyond mere charity; they represent a holistic approach to societal development.

By addressing key issues such as sustainability, community development, and cultural preservation, she has laid the foundation for a more inclusive and harmonious society. 

Her work serves as a testament to the power of compassion, dedication, and vision, inspiring individuals and organisations alike to contribute meaningfully to the betterment of society.

Needless to say, Ambani’s multifaceted initiatives in sustainability, community development, and the promotion of Indian culture have left an indelible mark on society.

Through her relentless efforts, she has not only transformed lives but has also set a shining example for others to follow.

As a visionary leader, she continues to illuminate the path toward a more sustainable, equitable, and culturally rich world, reminding us all of the incredible impact that one person’s dedication and passion can have on the lives of many.

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In the realm of corporate social responsibility, few names shine as brightly as Shiv Nadar’s. Renowned as an industry titan in digital technology and could computing spaces, Nadar’s legacy extends far beyond the boardroom. His commitment to philanthropy has left an indelible mark on countless lives, reshaping communities and fostering a brighter future for generations to come.

SHIV NADAR FOUNDATION

At the heart of Nadar’s philanthropic endeavours is the belief that education is the cornerstone of societal progress. His vision led to the establishment of the Shiv Nadar Foundation in 1994, a non-profit organization dedicated to transforming education in India. One of the foundation’s flagship initiatives, the Shiv Nadar University, stands as a testament to his commitment to nurturing young minds. Located in Uttar Pradesh, this multidisciplinary university provides world-class education to students, fostering innovation and creativity.

HEALTHCARE

Nadar’s philanthropic efforts are not confined within the walls of educational institutions; they extend to healthcare as well. The Foundation’s healthcare initiatives focus on providing accessible and affordable healthcare services to underserved communities. Through numerous medical camps and initiatives, thousands have received medical aid, ranging from basic check-ups to life-saving surgeries. Healthcare initiatives extend to the Shiv Nadar University campus as well. The university has a healthcare centre with 24×7 paramedic staff and an ambulance on standby for emergencies.

EDUCATIONAL INITIATIVES

One of the most notable examples of Nadar’s impact on education can be seen through the Vidya Gyan schools, a chain of institutions established by the Shiv Nadar Foundation. These schools aim to identify and nurture exceptional talent from rural areas, providing them with high-quality education, mentorship, and exposure to a world of opportunities. By breaking the barriers of privilege, these schools empower bright minds to dream big and achieve their goals.

ART & CULTURE

Nadar’s philanthropic influence also extends to the realm of art and culture. The Kiran Nadar Museum of Art, named after his wife Kiran Nadar, stands as a beacon of artistic expression. Housing an impressive collection of contemporary and modern Indian art, the museum not only preserves the country’s cultural heritage but also promotes emerging artists, providing them with a platform to showcase their talent.

WOMEN EMPOWERMENT

Additionally, Nadar’s commitment to social change is evident through his support for initiatives promoting gender equality and women’s empowerment. The Foundation’s programmes focus on providing education and skill development opportunities to women, enabling them to become financially independent and contribute meaningfully to their communities.

GLOBAL IMPACT

Beyond the borders of India, Nadar’s philanthropy has made a global impact.

He has contributed significantly to charitable causes around the world, supporting initiatives related to education, healthcare, and social welfare.

His generosity knows no bounds, transcending geographical barriers to uplift lives on a global scale.

What sets Nadar apart as a philanthropist is not just the magnitude of his contributions but also the holistic approach he adopts.

By addressing various facets of societal development, from education to healthcare and beyond, he creates a ripple effect that transforms entire communities.

His initiatives not only offer immediate relief but also sow the seeds of lasting change, fostering self-reliance and resilience among those he touches.

In essence, Nadar’s philanthropic journey is a testament to the transformative power of generosity and vision.

Through his unwavering dedication to education, healthcare, and social causes, he has become a beacon of hope, illuminating the path toward a brighter and more equitable future for all.

As his initiatives continue to flourish and inspire, Nadar’s legacy as a visionary philanthropist will undoubtedly endure, reminding the world of the immense impact one individual can have in shaping the destiny of nations and the lives of millions.

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Cvent, a market-leading meetings, events, travel and hospitality technology provider, published the latest instalments of the Cvent Travel Manager Report. It provides in-depth insights into current corporate travel trends and activity. Regional editions with localised data sourced from hundreds of corporate travel decision-makers were published for Asia, Australia & MEA.

Collectively, the reports reveal significant levels of optimism amongst corporate travel managers and highlight the pivotal role technology will play in the corporate travel sourcing process.  82% of respondents expect corporate travel volumes at their organisation to increase in 2023 relative to 2019 in MEA, followed by 75% in Australia and 74% in Asia. 

In addition, the report shows the increasing impact sustainability has on the choice of venue, highlighting the critical importance of hotels showcasing not just their unique facilities and points of difference, but their sustainability efforts and initiatives to better attract today’s corporate travel buyers. The findings also reveal that organisations in Asia and Australia will witness an increase in travel to Asia and Europe. For corporate travel decision-makers in MEA, the regions where travel managers are most likely to increase travel volumes for their organisation are the Middle East/Africa (61%), and Asia (47%). 

Graham Pope, Vice President of International Sales, Cvent, said “The results in this report illustrate that because corporate travel momentum has continued to grow and needs have evolved, hotels must understand their buyers’ decision-making processes, preferences and budget expectations to attract them to their properties and stay ahead of the competition. The travel resurgence has also manifested higher expectations from the clients, with sustainability at the top of the list. With many hotels operating with smaller teams than pre-pandemic, this report offers critical insight into where hospitality professionals can focus their efforts and leverage technology to work more efficiently and maximise impact.”

Additional highlights include:

Interest in Dual and Dynamic Rates Increasing –

• The report reveals that 84% in Asia, 81% in Australia and 82% in MEA say their interest in such an approach has increased for the 2023 RFP season. To win business in 2023, hotels must understand their potential customers’ rate strategy and expectations and establishing a willingness to engage and offer dual and dynamic rates offers venues the opportunity to also award discounts for loyalty, and flex prices depending on demand and availability.

Trip Prioritisation and Sourcing Needs Have Evolved:

• With budgets under pressure due to rising costs, travel managers are increasingly asking whether trips are truly necessary, and how each one fits into a new formula of cost versus value. Almost half (46%) of travel managers in Australia followed by 45% in Asia and 42% in MEA, are taking this approach. Once the trip is approved, travel managers rigorously compare hotels on a shifting set of priorities including cost savings, rate flexibility and sustainability.

Rising Costs Spur Budget Increases:

• Approximately 80% across Australia, MEA, and Asia say their travel budgets will rise in 2023, including 34% who predict it will increase significantly. However, travel managers are proactively looking for ways to reduce and accommodate budgets to help offset the rising cost of travel. Hotels can highlight unique experiences and offer incentives to encourage additional spending onsite.

About the Study

Cvent commissioned Censuswide, an independent research company, to survey 250 corporate travel decision-makers in   Singapore, China, Japan, Thailand, and   India, and   100   in Australia, 150 from UAE, Saudi Arabia, and South Africa between 4 and 17 November 2022.

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Today’s Traveller: How has your journey been with Trance Hotels after working with a large well-known hospitality company like Taj for nearly 40 years?

Veer Vijay Singh: I must admit that I was very used to the Corporate world with a large number of associates sharing responsibilities in my earlier days with the Taj.  In my new avatar, we have a small Corporate team and we encourage multiskilling of our team members.   

Today’s Traveller: What are some of your learnings as an entrepreneur?

Veer Vijay Singh: We need to be seen by the owners as partners, who are equally interested not only in creating our brand but ensuring consistent profits through better selling and cost management.  Entrepreneurship opens different needs and challenges and one has to prove himself from scratch. Most important is to focus on finance and relationships. 

Today’s Traveller: What is unique about Trance Hotels?

Veer Vijay Singh: The word “Trance” means the highest level of meditation before you achieve Nirvana, Moksh, Mukti or Salvation, and hence we endeavour to bring the highest levels of hospitality to our hotels.    As per the acronym of “TRANCE”, our beliefs are: Tranquility, Relaxation, Adaptable, Natural, Contemporary, Exceed Expectations.  

At Trance, we strongly believe in providing “Bespoke” services suiting our owner’s requirements.  Our strengths are in professional hoteliering, cost management and bringing in unique concepts suiting the environment. 

Today’s Traveller: Describe the USPs of your properties in Hyderabad and Goa?

Veer Vijay Singh: If Covid had not played the havoc that it has played, we should have been having nearly 10 properties as of now.  However, we are presently managing three properties (two in Hyderabad and one in Goa).  At  Trance Greenfields Resort & Convention Centre: we are managing this Resort since its inception in 2016.  It is spread over 15 acres of land with  48 rooms, 2 Restaurants and large Banqueting facilities.

 Virendra Giri and his family are the owners and take a lot of pride in the highest quality of maintenance and also work hand-in-hand with Trance to make it one of the best resorts in Hyderabad.  It is ideal for Weddings, Corporate Day Outings and Weekend leisure stays.  The landscape is most beautiful with a large expanse of gardens and one of the largest Banquet Halls which is pillarless.  The personalised services and food has been mostly complimented by our guests.

We manage the Anahata Retreat, Goa, a quaint retreat in Ashvem Beach (Morjim North Goa) which has been running for a couple of years by the discerning entrepreneur couple Rishal and Angela Sawhney who have an eye for high-quality interiors, passion for environment and Wellness.  Anahata in Sanskrit means “ Pure” and is also the name of the heart chakra.

The location is ideal and it is besides a beautiful beach.  The Yogashala is very popular with our guests and it serves some of the best contemporary Continental and Goan dishes. 

We also manage Trance Babylon Executive Stays, Hyderabad. Suranas are the owners of the property who ensure that they bring in all the required facilities for a high standard Service Apartments.  It is a very centralized location in the hi-tech city with spacious rooms, good housekeeping and warm services. 

Today’s Traveller: Describe your new challenges, especially post Covid in the last few years?

Veer Vijay Singh: Covid has heavily impacted the hospitality industry and Trance Hotels were not spared either.  Though the financial performance of the existing hotels has been good, the expansion program got a setback as our financial partners delayed their participation. 

Some of the owners prefer giving their properties on lease as they are happier to get a fixed amount, but do not realise that this may result in the lessor doing poor maintenance of the property, which is not good in the long term.  Some owners who may have had a bad experience with unprofessional management operators want to know what is the “skin in the game” and ask for monetary involvement or guarantees for achieving budgets which are not possible due to various prevailing conditions.  

Presently, one finds a lack of trained professionals being available as many of them have either become entrepreneurs or chosen different fields for their profession.     

Today’s Traveller: Where do you see Trance in the next 5 years?

Veer Vijay Singh: We have made a strong vision with a clear mission and strategy.  I see Trance Hotels managing and operating at least 20 unique hotels and resorts along with providing Consultancy services to at least 10 hospitality projects. 

We are also seeking financial partners who will look at the lease models in the future.  Overall our strategy is always to be asset-light and not just look at adding properties but find like-minded owners who value good management and believe in customer delight/satisfaction apart from financial results.   

Today’s Traveller: Will Trance only concentrate on Management/Operation? What are your other services?

Veer Vijay Singh: As mentioned earlier, Trance would like to be an asset-light organization which is known for its professional hoteliering and technical skills.  Our main concentration would always be on Management/Operating Hotels, however, we are also specializing in Consultancy services for New Hospitality projects/Market studies; Running Hotel Operations/Sales & Marketing; Asset Management and Wellness Centres, F&B Outlets, and Restaurants.

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