In a significant development which would
have wider ramifications over the long-term, Ministry of Finance, Government of
India, has granted ‘infrastructure’ status for exhibitions and convention
centres.
According to a notification released by the
ministry, recently, convention and exhibition centres have been included in the
harmonized master list of infrastructure sub-sectors under the social and commercial
infrastructure sub-sector.
The notification however specifies that to
avail the benefits, venues should have minimum built-up floor area of 1,00,000
sq mt of exclusive exhibition space or convention space or both combined.
The Ministry’s move spells good news for exhibition centres, convention halls, auditoriums, plenary skills, business centers, meeting halls, among others. All such primary facilities, if they meet the criteria specified by the government, can have access to concessional funds for promotion of their projects.
Exhibitions and Conventions Now Under Infrastructure Umbrella
