In an exclusive interview, Ajay Sarin, president, Indian Association of Amusement Parks & Industries (IAAPI) spoke to Steena Joy on the industry’s future potential
What has been the performance of the amusement park industry in India in 2015? And the expected growth in 2016?
For the first time this industry was removed from the negative list and service tax of 14.5 per cent was levied on the amusement sector which is already paying state entertainment tax ranging from five per cent to 35 per cent across the country. Inspite of double taxation, it is expected that by the year 2020, approximately 500 new projects worth US$ 1.8 billion are likely to be invested in the Indian amusement park sector. Currently, the amusement park industry is generating revenue of Rs 1700 crore and is growing at CAGR of more than 17.5 per cent and is expected to touch Rs 4000 crore in 2020.
Amusement Expo will be held from March 3-5 in Mumbai.What will be the USP of the Expo?
Amusement Expo is the only B2B exhibition on sourcing for amusement parks, theme parks, adventure parks, water parks and FEC in South East Asia. IAAPI which is the apex body for the sector in India started its initiative way back in 2001 when the need was felt to bring the industry’s buyers and suppliers together on one platform. What started as a small thought has now materialised as a big B2B global event. The 16th edition of IAAPI Amusement Expo is more promising with an increase in 25 per cent of the floor area as well as exhibitors. Being marketed at the national and international level, the event will help get one stop solutions to buyers’ requirements, give an update of technological advancements and further help connect India with 20 other countries. This year the exhibition is supported by the ministry of tourism, Government of India along with Government of Chhattisgarh as partner state promoting Naya Raipur Development Authority as an entertainment hub.
How many foreign participants are expected at the IAAPI Expo 2016?
The Amusement Expo will witness new rides and attractions developed by leading rides and equipment manufacturers from over 100 + exhibitors from India and across 19 countries including Australia, Bulgaria, Canada, China, France, Germany, Korea, Hong Kong, Italy, Philippines, Spain, Saudi Arabia, Switzerland, Luthuaina, Netherlands, Turkey, UAE, UK & USA . 50 per cent participation is from international companies and apart from rides, the safety and allied service industry is also going to be highlights of this edition.
A lot of Indian travellers go overseas to visit theme parks. Can India lure this segment with international standard parks within the country?
The success of amusement parks globally is because resorts/ hotels are an integral part of the theme park which provides comfort of hospitality coupled with entertainment. Singapore, Hong Kong, USA attract millions of tourists because their amusement/ theme parks are integrated resorts. In India, Ramoji Film City, Wonderla, Imagica, VGP Universal, World of Wonders, EsselWorld have also developed state-of-the-art amusement parks that can be enjoyed at a far lesser price.