Cabinet approves land transfer to DIPP for exhibition centre

The government today approved transfer of 89.72 hectares of land in Dwarka to DIPP for setting up of a world class state-of-the-art exhibition-cum convention centre.
The decision was taken by the Union Cabinet chaired by Prime Minister Narendra Modi.
"The Cabinet has given its approval for transfer of land measuring 89.72 hectares in Sector 25, Dwarka, New Delhi, free from all encumbrances, to the Department of Industrial Policy and Promotion for creation of a World class State-of-the-Art Exhibition-cum Convention Centre in Dwarka, New Delhi," an official statement said.
A committee comprising secretaries from various ministries, including DIPP, Urban Development, Expenditure, DEA and Niti Aayog CEO would steer the project including project structuring and development options in a transparent, competitive manner.

The transfer will be done at a nominal sum of Re 1 within six weeks of the decision by the Cabinet, it said, adding the ownership of the said land will vest in and remain with the DIPP.
The Exhibition-cum-Convention Centre would comprise a host of independent facilities like exhibition halls, convention centres, banquet halls, auditoria, arena, financial centre, hotels, Food & Beverage (F&B) outlets & retail services.

Project structuring, initial expenses of non-PPP trunk infrastructure costs will be borne by the government. This may be central government's contribution by way of equity in the project, the statement said.
The project will be developed in Public-Private Partnership mode.

"Permission is also granted to DIPP to lease/sub-lease the land and grant concession to the private entities for development and operation of various facilities. Permission for mixed land use in the project site will be accorded by DDA/ MoUD expeditiously," it said.
The exhibition-cum convention facility is expected to
generate spending of more than Rs 2 lakh crore per annum after commissioning of the second phase of the project and are estimated to generate over five lakh employment opportunities.
India currently lacks an integrated world-class facility which can meet the requirements of global exhibition-cum- convention operators in terms of space, project facilities, transportation linkages, etc.

Only a few centres in terms of organised space are available in the country. The exhibition ground at Pragati Maidan has been the only organised large space for years which too is facing severe capacity and traffic constraints leading to great inconvenience to citizens and visitors to the centre in particular.
Further, the huge constant demand for exhibitions and related activities puts immense pressure on the existing facilities resulting in lesser time available for maintenance to hold large sized events and maintain international standards.
In order to capitalise on this vast market and to drive India's industry, commerce, trade and tourism, the DIPP has taken the initiative to develop an exhibition-cum-convention centre at Delhi, the statement added.