Indian amusement and leisure industry has expected fresh investment of Rs 10,000 crore by the year 2020

Indian amusement and leisure industry has expected fresh investment of Rs 10,000 crore by the year 2020

Mumbai to host The Largest international amusement & leisure industry Expo - IAAPI Trade Show 2008, to be held during 14 th to 16th February 2008

MUMBAI: The Rs 4,000 crore Indian amusement and leisure industry has expected fresh investment of Rs 10,000 crore by the year 2020 there would be 500 new amusement parks. Of this 50 per cent would be in terms of equipment of which 50 per cent would be indigenously manufactured. In terms of employment generation, the new parks are likely to create jobs for 6 crore man-hours per month. ," Indian Association of Amusement Parks and Industries (IAAPI), President, VGP Ravidas said.

Foreign visitors to Indian amusement parks are only as walk-in guests and there is no tapping of the potential of foreign tourists. They account for 2-3 per cent of the annual visitation. This is very low as compared to, say, the Gold Coast, Australia, where the foreign tourist visitation is as much as 59 per cent of international tourists visiting amusement parks.

The amusement and leisure industry, estimated to grow by six per cent per annum till FY-10 is on the verge of an explosive growth. In fact, the growth of Indian amusement park industry is more lucrative and faster than China. Over 150 amusement parks, water parks & snow parks are in operation, attracting footfalls to the tune of 50 million visitors annually. It also boosts tourism and infrastructure facilities in and around the parks, Ravidas said.

He further said that Indian Association of Amusement Parks and Industries (IAAPI) to organized international event for the amusement, leisure & entertainment industry – IAAPITrade Show 2008, will be held during 14 th to 16th February 2008 at Hall No.V, Bombay Exhibition Centre, Goregaon, Mumbai. This event will be held for the 8th year in succession by Indian Association of Amusement Parks and Industries (IAAPI). There will be 142 stalls in the trade show, with participation of more than 50 exhibitors from various countries like USA, UK, Argentina, Belgium, Canada, China, Dubai, Germany, Hong Kong, Italy, Japan, Luxembourg, Singapore, Switzerland, Taiwan, Thailand, India etc. More than 2000 operators, manufacturers, importers, traders, suppliers, distributors and other related industries from the amusement, leisure, entertainment & allied industries of world would come together at the trade show.

According to Mr. Suraj Muchhala, Chairman-Thriller (journal of IAAPI) Committee, all the developed countries like US, Hong Kong etc. provide free land and subsidized interest rates on capital. Hence, Indian Government should reduce entertainment tax & provide Industry Status to the Indian amusement industry and make it an integral part of tourism & development in India at the Central Government level.

Mr. N.D. Rana, 2nd Vice President-IAAPI explained the factors affecting the running of the amusement business. Factors such as monsoon, cold weather, exam duration, marriage season, cricket season etc. affect the industry. The response received during these times is very low in parks all across the country. Hence, out of 365 days in a year, only 100 days are the peak days for the parks.

IAAPI was established in the year 1999 and its existence has been essential to enfold the entire amusement industry under one umbrella to provide combined strength with united voice. Being a representative body of the industry, IAAPI provides a suitable platform for its members to present their perspective for overall healthy growth of the Industry