Meetings, incentives and conferences comprise 60% of India’s MICE industry, 22% is international: MOT

As per a MICE study carried out in 2019 sponsored by Ministry of Tourism, the market size of the India MICE industry is at Rs.37,576 crore, 60% of which is attributable to Meetings, Incentives and Conferences. The international MIC in this accounts for 22% of the market size. 65% are business to business events, and the Meetings & Incentives form roughly 70% of the entire MICE segment for 5-star properties. Ministry of Tourism identified MICE as one of the important segments of Tourism. Ministry has also formulated a National Strategy and Roadmap for MICE Industry to promote the growth of MICE industry in the country including Haryana and Delhi NCR.