German-based CIDEX Trade Fairs Pvt. Ltd., a 50:50 joint venture between Messe Dusseldorf GmbH and KolnMesse International GmbH announced a net loss of Rs.70 lakhs on a turnover of Rs.5.3 crores during 15 months of its operations in India. The trade fair company started its operations in India in January 2001 with an investment of Rs.2.1 crore.
CIDEX Trade Fairs has however projected a turnover of Rs.14.4 crores for the year 2002-2003.
Disclosing the details about the proposed trade fairs, Nobert Schmidt, managing director, CIDEX said, of the 24 shows scheduled for 2003-04, around 4 would be dedicated to the Pharmaceutical and Healthcare industry. These include HOSPIMedica India 2003 to be held from the 14-16 February 2003; Biotec India International 2003 from the 24-27 September 2003; Pharma India 2003 from 24-27 September 2003 and HOSPIMedica India 2004 from 6-9 February 2004.
On the venue where these Trade Fairs would be organized, Schmidt said that they have chosen HITEX, the newly built trade fair grounds next to Hi-Tech city Hyderabad as the destination where all the trade fairs would be organized. According to Schmidt, trade fairs are the perfect marketing tools for the Indian industry to sustain and grow in competitive international markets and with HITEX being the ideal and sophisticated trade fair grounds, the future for trade fairs in India seems to be certainly bright.
CIDEX has already organized 4 Trade shows in India with an initial investment of Rs 2.1 crores.