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Reed Exhibitions to invest $50 mn to make India biz hub

Reed Exhibitions to invest $50 mn to make India biz hub
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First Published: Mon, Nov 05 2007. 11 29 AM IST
Updated: Mon, Nov 05 2007. 11 29 AM IST
By PTI
New Delhi: Global leader in organising exhibitions and conferences - Reed Exhibitions has lined up an investment of $50 million (Rs196 cr) in the next three years in India as it plans to make the country its business hub.
“Indian market is still unstructured in terms of organising B2B exhibitions and conferences. It has a huge potential when the economy is growing at nearly 10%,” Reed Exhibition Group commercial director Nick Forster said.
The country has only few big players in B2B exhibitions, like ITPO, CII, FICCI and ASSOCHAM. He said Reed has a huge growth potential as the concept of organising B2B exhibitions is quite new to the country and the company is a global leader for the last 20 years.
Reed Exhibitions started its business in the country in 2006 by organising three events. “We have earmarked an investment of $50 million by 2010 in increasing skilled man-power and creating a strong data base to strengthen our footprint in India,” Forster said.
The company has recently acquired two exhibition brands - ‘Aluminium India´ and electronic equipment show, ‘Componex India´. “We are looking for more such brands to acquire,” Forster said, but refused to divulge any detail about it.
He also said Reed Exhibitions would invest in improving facilities of exhibition halls to make it world-class. The company had a revenue of $2 million last year. It expects to have a turnover of $4.5 million in 2007 and $10 million in 2008, he added.
Based in Gurgaon, Reed Exhibitions is opening up its second office in Mumbai next week. From its global operations, the company reported a gross revenue of around one billion dollar for the year ended 31December 2006.
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First Published: Mon, Nov 05 2007. 11 29 AM IST