Cumulative Value of Govt Events is Over Rs 4 Lakh Cr, and This is Growing at 25% YoY: Lalitt Gattani
by Komal Parmar Industry Watch | December 16, 2020 | Interview
Congregations India EEMA Showcraft Productions Lalitt Gattani
With the virtual ‘CONGREGATIONS INDIA: Government, Political & Religious Events Summit’ by EVENTFAQs Media coming up on Thursday, December 24, 2020, we reached out to co-curators of the event for their valuable views on the scale of Government events as well as the expertise required by event industry professionals to manage them.
In this interview, Lalitt Gattani, Chief Executive Officer, Showcraft Productions, a well-known marketing solutions and event management agency, and also a co-curator of the #CongregationsIndia event, shares his insights.
Scale of Government events
Talking about Government events in India including cultural, religious and sporting events, and how the segment is growing, Lalitt Gattani says, “As per some estimates issued by the Government of India, Rs40,000 crore was spent by various Government departments across the country in the year 2019. Government events has become a huge vertical in itself and is growing at phenomenal speed. Cultural, religious and sporting events are the other major growing verticals, and as per our estimate, the cumulative value should be over Rs4 lakh crore and growing @25% year on year.” Religious events are the most under-rated in terms of value, Gattani says, adding that the Durga Puja celebrations in West Bengal alone has been valued at over Rs1.25 lakh crore in 2019,i.e., amounting to almost 10% of the West Bengal GDP.
Growth of political events
“Political events have been growing manifold in India, specially since the General Elections of 2014. BJP, under the leadership of PM Narendra Modi, has shown the way and used events in the most effective manner to communicate with the people. Since then, every political party has realised the importance of events, which are professionally managed and executed. The organised and unorganised sector in Political events is estimated to be close to Rs1 lakh crore and the figure quadruples during the General Election Year,” comments Gattani.
Commenting on his portfolio comprising Government and political events, Gattani says, “Government events offer a huge potential for event managers. In the last six years, the Government at every level has realised the importance and need for getting their events managed and produced professionally. This has opened a huge set of opportunities for event managers in India. At Showcraft, 75% of our portfolio is Government and political events, and it has grown substantially over the last six years.”
What event managers should know
“Perseverance, patience and the ability to deliver at very short notice are the most important skillsets required to handle Government and political events. One also needs decently deep pockets as the Government doesn’t pay any advances and the payments usually take 4-6 months to come by. Additionally, one has to invest in Earnest Money Deposits (EMD’s), Bank Guarantees and Performance Bank Guarantees which add extra pressure on one’s pocket. Extensive research is also required for these events and we at Showcraft have a dedicated team for this. Since all Government events need a proper tender process, it is very important to have a dedicated team which understands the technicalities,” explains Gattani.
Talking about the return of large-scale congregations, he says, “Definitely, the rebound for large scale congregations post-COVID shall be much faster in the Government/political space over corporate/private events. Government/political events are recessionproof and shall see an increase of over 25% Year-on-Year. We can already see huge traction in the Government events, while political events had never stopped. They have surely adapted to the virtual format and the large congregations have converted to smaller congregations and will get back to pre-COVID levels very soon,” he adds.
Working on Government events
Talking about his own experience of working on Government events, Gattani says, “We have had a great experience working on Government events as it has given us an opportunity to manage and produce large format productions with super large congregations. We have been able to execute mega-events involving major production and other elements with the Government as access to the resources is huge. One only needs to understand and have adequate knowledge of these available resources and with the right ideas, they can be effectively used for great results.”
Gattani adds that Government events are changing the face of the events industry as this sector is recession-free and has a year-round calendar. “There aren’t any lean periods in Governmentevents and the scale and size of these events have really helped the events industry grow at a much faster speed compared to other industries. This sector alone gives a huge business opportunity to the events industry and there is enough space for everyone to not just survive, but also grow on a good scale,” he adds.
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Lalitt Gattani, CEO of Showcraft Productions, a prominent marketing solutions and event management agency, and also a co-curator of the #CongregationsIndia event, shares his insights