SME Times News Bureau | 24 Dec, 2019
In an exclusive interview with SME Times,
Yogesh Mudras, MD of UBM India, the country’s leading exhibition organizer of B2B exhibitions, said exhibitions are the
most effective tool for SMEs in the public and private sector, as they play the
role of a catalyst for the progress and vision of the respective industry and
nation, by constantly providing platforms for industry players to collectively
ideate, innovate and sport trends in India’s ecosystem.
Excerpts of the
interview …
Please tell us about UBM India and its
entrepreneurial journey?
Yogesh Mudras: UBM India
is the country’s leading B2B exhibition organizer, deriving its value through its rich worldwide and Asian legacy. Since its
establishment in 2006, UBM India has risen magnificently to the challenges and
changes in India’s socio-economic landscape, and hasn’t just stopped there.
Through the experience garnered, we now host over 25 large scale exhibitions,
40 conferences in 16 different verticals and 7 industry awards each year in
harmony with the organization’s vision to be an innovator, a community builder
and one that intricately connects people and industries through its initiatives
and events.
Over the
span of 12 years, we have enabled trade across multiple industry verticals
including Pharma & Bio Pharma, Travel, Tourism, Food & Hospitality,
Renewable & Nuclear Energy, Jewellery & Gem, Safety & Security,
Construction & Building, Beauty & Lifestyle and Occupational Health
& Safety, amongst others. While the
requirements and verticals are different, the objective is the same; to provide
a professional realm for exhibitors, key delegates, business experts, and
visitors to connect, network, share knowledge and associate with each other in
a bid to enter into potential, strategic tie-ups.
UBM is now
a part of Informa Plc, becoming the largest exhibitions organizer around the
world with a market cap of £10bn and 11,000 team members which will help us add
to the experience our attendees have at our exhibitions. Driven by a culture of
growth, UBM has always looked at broadening its businesses, be it organically
or through acquisition. This growth strategy keeps the organisation agile and
ready to face the future confidently, while at one reshaping customer
experience.
How and in
which areas you help MSMEs to take part in exhibitions?
Yogesh Mudras: As
mentioned earlier, UBM India operates across multiple industry verticals and
niche segments.
MSMEs
within these industries take part in our exhibitions either as exhibitors or
visitors. Through their participation, they’re exposed to an international
audience and an array of technological and innovative advancements, which micro
organizations may not be aware of or have
access to, due to their business scale and
capabilities.
The number
of SMEs is estimated to be around 42.50 million in India, employing about 106
million people, making them key players in the economy and the wider eco-system of
firms. We believe in enabling them to adapt and thrive in a more open
environment and participate more actively in the digital transformation which
is essential to boost economic growth and deliver a more inclusive
globalisation.
For
instance, UBM India’s trade exhibitions support MSMEs through the inclusion of
features such as special pavilions for them, along with the presence of venture
capital firms to provide seed investments for captivating ideas, job fairs and
insightful seminars by industry thought leaders. Our Industry awards also
handpick, recognize and reward fledgling organizations for innovations and
excellence and help publicise the work being done by their sectors at large.
What is the
importance of SMEs to take part in exhibitions?
Yogesh Mudras: Exhibitions
are the most effective tool for SMEs in the public and private sector, as they
play the role of a catalyst for the progress and vision of the respective
industry and nation, by constantly providing platforms for industry players to
collectively ideate, innovate and sport trends in India’s ecosystem. Every
year, multiple trade shows are organized in India, giving SMEs an opportunity
to showcase their products and services to key players in the industry while
generating multitude of leads and deals. Besides, meeting industry leaders can
facilitate exchange of ideas and knowledge and which can lead to visions and
projects that may give a new spin to these organizations.
Isn't it bit
costly for SMEs to take part in such events, compared to other forms of
promotions?
Yogesh Mudras: It is true
that exhibitions can be an expensive tool for small businesses, even though they
provide a platform for companies to engage and meet potential customers
face-to-face. It is therefore important to take time in due diligence to
strategically plan the costs for marketing at a chosen trade show. After all,
to be ahead of competition and add value to their offerings, exhibitions are a
marketing tool that cannot be ignored as they generate approximately 10x more
impact on the business of the companies.
Besides,
the Government of India is also keen to increase their participation at exhibitions
by introducing several schemes in the SME industry, touted to be a $25.8
billion market for emerging technologies by 2020, and currently employing 40
per cent of the Indian workforce, second only to the agricultural sector. The
National Small Industries Corporation under Ministry of MSME provides a scheme
for organizing and participating in exhibitions and supports co-sponsoring of
it. Through the scheme, exhibitors who are engaged in the promotion &
development of MSME will also be provided with space at exhibitions at
subsidized rates.
To play our
bit in the augmentation of this industry, UBM India, features dedicated
pavilions for the SMEs and start-ups and also provide various engagement
platforms for them to showcase their offerings to the venture capital firms
participating at our expos in order to provide seed funding for attractive and
engaging ideas. As facilitators, we seek to play a proactive role in enabling
these smaller, fledgling organisations drive key governmental initiatives such
as ‘Make in India’, ‘Start-Up India, Stand Up India’, and ‘Skill India’,
connecting the global community to bring out solutions to challenges, and
establish superior standards within it.
In the larger context, the cost incurred for participating in an exhibition
is a very small portion of what could lead to be a big business driver through
quality interactions and showcasing the company’s products first hand to the
who’s who of industry and thus facilitating growth.
Does direct
customer contact give a boost to SME prospects in such events?
Yogesh Mudras: Direct contact with your target audience still
makes a huge difference compared to emails and cold calling, especially in
India. Although B2B exhibitions are BTL marketing activities, they provide a
realm for face-to-face interactions, encouraging comprehensive customer
engagements, paving the way for collaborations, trust and voluminous business
deals. Exhibitions organizers are also going out of their way to add more value
and features to these interfaces. For instance, not only do our shows provide
space for exhibitors to showcase products, but also cater to their needs by
hosting Buyer-Seller Meets. Recently, UBM India through one of its signature shows, IFSEC
India, introduced a novel concept with the creation of the Regalia Lounge, an
exclusive 5-star lounge that aimed to encourage vital interactions between key
exhibitors and big ticket buyers on a ‘By Invitation Only’ basis to very
impressive results. These add the exclusive and formidable touch to
buyer-seller face to face interactions.
With
opportunities for partnership and exposure to global brands, these companies,
no doubt have a lucrative chance to test domestic and international waters. We
facilitate B2B meetings for companies and professionals to maximize the time
our visitors and exhibitors spend on the show floor.
Please share
your future plans with our readers.
Yogesh Mudras: 2018 was
one of our busiest years with the launch of 5 preview shows catering to
Beauty and cosmetics, jewellery, food and hospitality and packaging along with
three due diligence initiatives.
Post the
combination of UBM and Informa, a new vertical; Maritime with the INMEX SMM India
expo has been an addition to our portfolio this year, and we are looking
forward to expanding our wings to the SAARC region by launching two new shows
in Bangladesh; OSH & IFSEC. Through this merger, we will always be on the
lookout for new show launches, developments and interesting initiatives that
can benefit the industry and boost the Indian economy.