India’s MICE Market to Surpass $100 Billion by 2030, Driven by Infrastructure Growth and Policy Reforms

India’s Meetings, Incentives, Conferences, and Events (MICE) market is projected to more than double in value from $49.4 billion in 2024 to $103.7 billion by 2030, growing at a robust CAGR of 13%, according to a government statement. The Federation of Hotel & Restaurant Associations of India (FHRAI) attributes this growth to supportive policies, rapid infrastructure upgrades, and the emergence of new MICE-ready destinations such as Varanasi and Khajuraho, which are becoming global hubs for cultural and business convergence. The country’s extensive infrastructure transformation—featuring over 1.5 lakh km of new roads, modernized railways, semi-high-speed trains, 150+ airports, inland waterways, and 2.48 million hotel rooms—has laid a strong foundation for this expansion. NITI Aayog Vice Chairperson Suman Bery noted that India’s G20 presidency served as a catalyst for the sector’s rise, urging states to further explore opportunities such as deregulation and concert tourism. According to Horizon Grand View Research, meetings dominated the MICE sector with a 42.91% revenue share in 2024. Experts emphasize that MICE tourism drives economic benefits by fostering business opportunities, skill development, and knowledge sharing, with destination development playing a vital role in sustaining long-term market growth.