In order to give a boost to trade exhibitions, the India Trade Promotion Organisation (ITPO) has proposed to invest close to Rs 2,000 crore for the upgradation of Pragati Maidan, New Delhi.
Malay Shrivastava, executive director, ITPO, said that the largest centre at Pragati Maidan is currently spread over one lakh sq mt. ITPO is planning to add another 40,000 sq mt to this.
"This expansion would cost us around Rs 2,000 crore," said Shrivastava.
Speaking on the sidelines of 29th India International Leather Fair, he said ITPO has a corpus of Rs 800 crore and the rest of the fund requirement would be met through loans from banks and financial institutions.
For nearly three and half decades, ITPO has been managing India's world-class exhibition complex that is being constantly upgraded.
According to Shrivastava, capacity utilisation of the exhibition area is currently at around 90% during the peak season, which is between November and March, during semi-peak season (April-June) it is around 40%.
Meanwhile ITPO is also planning to set up a new convention centre at Vigyan Bhavan with a seating capacity of 4,000-8,000.
ITPO, a government of India enterprise, is also looking at setting up a new exhibition centre in Kochi. The Kochi trade centre will have stakeholders like Coffee Board, Tea Board and Spice Board.
“ Since the Kochi project will have more stakeholders, ITPO’s participation could be around 20%. Land for the project has also been identified and now will be put up for government approval”, he said.
In Karnataka, ITPO is looking at utilising its trade centre for IT-related fares, leveraging the state’s prominence as IT hub.