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WHY INDIA?
Why hold pet trade fairs in India when there are well-established ones in other countries?
The IIPTF is the only international trade fair in South East Asia totally dedicated to the entire pet industry. Let us examine India, the largest market in the region.
Pet ownership amongst India’s 350 million strong middleclass is catching on in a big way as the economy booms and as incomes rise. For instance, there are an estimated 3.6 million pet dogs in the six major cities alone. Cat, bird, fish, reptile and rodent ownership is also growing.
The Indian Pet Industry is growing at a rapid pace. Internationally renowned
Euromonitor estimated that the Indian pet product market will grow at an annual rate of 10-15 percent between 2007 and 2010.
The focal point of the global pet market has shifted to Asia in the recent years. India is predicted to supply the world with the bulk of pet-related products in the coming years. Therefore, now is the time for Indian exporters and retailers to capture a significant share in the world market. A good number of these will be jump¬starting their worldwide penetration by exhibiting at IIPTF, where they can interact with foreign buyers.
Foreign Manufacturers and Exporters are also training their eyes on the growing Indian pet market. Owing to several changes in lifestyle trends, working culture and the emergence of more and more nuclear families, Indians are opening their doors to pets like never before. The development of the pet industry in the country is speeding up at the rate of 10-15 percent per annum. Pet ownership is still fairly new concept in India and this makes for a ground-floor opportunity for potential foreign players. The Government of India recognizes this and has introduced policies in favour of pet imports; for instance, a 10 percent reduction in tariffs. Now is therefore the right time for foreign brands looking to expand their business to enter Indian markets.
There is, therefore, scope for foreign manufacturers to set up joint ventures with their Indian counterparts and/or source potential Indian distributors for their products.
Trade Fairs in India is BIG BUSINESS. According to reliable sources there are over 175 trade fairs of all sorts held in India every year. Until IIPTF was introduced, however, there were none related to the entire pet industry. Therefore, India pet product manufactures wishing trade fair exposure were forced to exhibit in pet trade fairs abroad, which for one thing is an expensive proposition for small and medium scale manufacturers. With the IIPTF in its third year, even these smaller enterprises have a platform to exhibit their products on India soil. Foreign buyers, on the other hand, have a wider choice of Indian products and product categories from which to choose.
Long Range Plan: The organisers of IIPTF have a long range plan to put India right up there with the biggies on the International Pet Trade Fair map.
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